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The Importance Of BCH in Africa

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Written by   822
4 months ago

There is no doubt that Bitcoin Cash is the best form of payment in the world and in Africa it is no exception.

Africa has more than 1.2 billion inhabitants spread over more than 50 nations many of them living in the Linear of extreme poverty, the majority being young and active, children and women the most affected by this scourge. Unemployment and corruption are the major social problems that affect the African people, often referring to crises that arise from this.

With the development of the world and the spread of new diseases, such as the case of COVID-19, difficulties increase and make the search for a viable solution increasingly bigger.

As the level of unemployment is high and increasing steadily due to conflicts, pandemics (as in the case of COVID-19), climatic factors that make it impossible for once promising tourism regions today to suffer erosion, causing investors to give up investing for fear of losing their their funds, young Africans must find means of support that will allow them to support their families.

A new direction

  1. The Internet

As time went by, the internet became more visible and notorious among dynamic young people in Africa and with, use it to manage and support their families. This interest in the internet as a source of income increased even more after the emergence of COVID-19, which removed the few jobs that still existed among young people, causing the number of Internet users to increase almost doubling in search of an online way of life.

This demand and interest in the online market has led many people to study more about means of payment in which the government could not obtain taxes from it and the bet was on cryptocurrencies.

Cryptocurrencies are not illegal in Africa and in many countries there is no clear legislation on the subject, further increasing interest within the youth of Africa and making currencies such as Bitcoin Cash highly valued in the 'cradle of humanity'.

  1. Not all currencies are favorable

...of course, young people's interest in Bitcoin Cash currency has not always been this way at all!

In the past, Bitcoin Core (BTC) was the currency appreciated and desired in almost all Africa because it was believed that it served the interests of the people and with it could bridge the high level of economic imbalance registered in various parts of Africa, but over time, this 'demand' has been decreasing and has given way to a more realistic analysis of what can really work in Africa:

  • It's not possible, as much one wants to have Bitcoin Core (BTC), to trust that at any time the young peaceful African can use the currency, since it is demanding high transaction fees and has slow confirmations.

The demand for a decentralized currency favorable to Africa's standards (which in many parts has a base salary starting at $37 to $316) had a lot of impact after the COVID-19 era, where it made no sense to continue to depend on expensive currencies to move.

Awakening interest in Bitcoin Cash

As is known, BCH is Bitcoin and taking this note as a starting point and with the fundamentals behind it (low handling fees, security, speed of transactions) the demand for it started to increase.

This increase is due to the fact that Bitcoin Cash is a secure form of payment and also an effective source of value reserve. It does not suffer from inflation as there are only 21 million coins, it is still possible to earn it on several online sites and the most important works worldwide.

The name 'Bitcoin' has also led many people to consider adopting this form of payment, as it is already famous in the world and its blockchain has advantages that really work for the African people.

The interest of the currency is not only growing, but it is also highly appreciated because behind it there is a community so strong and powerful that it works tirelessly to see the development of the currency reach levels never seen in Africa.

Another point that is no less relevant is the fact that many young people in Africa are unable to obtain BTC for the price that this asset shows on the market and feel that they have 'lost' the opportunity to acquire at least one currency, but different from Bitcoin Cash that it is still accessible and anyone can still have more than one coin on their pose.

Bitcoin Cash is the best bet

Without a doubt that Bitcoin Cash is the best bet in Africa and in the world in general, the currency is accepted in more places than any other decentralized asset, merchants love to receive the currency because they know that it has a bright future in the basket of global payments.

In an increasingly growing world where it connects with the outside world, young entrepreneurs need to purchase merchandise & Bitcoin Cash may well be the means of payment increasingly used in these transactions as both, the buyer and seller, would have peace of mind, security and instant confirmations during negotiations, sending trips to the stock point in the background and focusing more and more on their business.

Endpoints

In a continent where the standard of living is quite worrying for the various reasons mentioned above, Bitcoin Cash overlaps this and may well be the lifeline for many young people who really need to support their families.

Obtaining Bitcoin Cash and using it for this purpose, this young men are not only using it to change their life, but are also giving a great value to it and ensures greater visibility of the currency making it increasingly popular.

If every young African has BCH and it is used daily, whether for basic needs, its use is an asset because it shows that it serves the assumptions for which it was created:

  • P2p electronic cash system for humanity and a true source of universal value distribution.

Africa still on the start with the use of Bitcoin Cash and the future on the continent is increasingly bright.

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Written by   822
4 months ago
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