Join 46,971 users and earn money for participation

African Digital Currency Revolution and BCH Challenge

0 1 boost

According to a new report from Arcade Research, Africans have the highest rate of digital currency ownership in the world. South Africa ranks third in the world. About 13% of Internet users worldwide own or use cryptocurrencies, and in this fifth-ranked West African country, 11% of Nigerian Internet users own digital currencies. Africa is becoming the most potential soil for global digital currencies. At the same time, BCH has also been hit by the fire of African digital currencies. As projects such as Bitcoin Cash House and EatBCH continue to advance in Africa, more and more Africans have learned about BCH. Africa is expected to become a Bitcoin Cash continent like Northern Queensland in Australia.

Difficulties in Africa and USD 48 billion in remittances

Arcane Research believes that the lack of infrastructure (such as full nodes for mining, merchants that support payments, smartphone penetration and Internet connectivity) will slow down the development of digital currencies in Africa. Due to the large rural population in some countries, most of the land on the continent is not powered, which limits the coverage of Bitcoin Cash and other digital assets.

But this cannot ignore the potential of Africa. The report concluded: "Africa is one of the areas with the most potential even if it is not one of the most promising areas for digital currency."

Uganda, Nigeria, South Africa, Kenya and Ghana are listed in the report as the "cryptocurrency" in the top 10 countries searched on Google. The economic challenge is two-way. Essential requirements such as digital currency networking and mobile devices have slowed the adoption of Bitcoin Cash, and the high transaction fees make Bitcoin Cash an attractive option.

Africa is one of the world ’s highest-inflation economies. In addition to government policies, external factors such as US economic sanctions and war conflicts also threaten the safety of citizens ’deposits, which makes digital currencies such as Bitcoin Cash a safer investment fund.

Sub-Saharan Africa has $ 48 billion in remittances every year, but transaction fees are as high as 9%, while some mobile payment transfer services have transaction fees of about 11%. Using bitcoin cash is a way to eliminate centralization while eliminating high remittance costs. BCH can greatly reduce the cost of these 48 billion US dollars and improve the transfer efficiency. Africans can use BCH to transfer money to friends in any corner of the world at a very low cost.

Bitcoin Cash House's work in Africa

@Koush Bitcoin Cash House Ghana

The Bitcoin Cash House was established by BCH enthusiasts, and introduced BCH to locals through the charity BCH House. The main contents of the Bitcoin Cash House include: how to immediately send money to friends and family around the world at a negligible fee; the advantages of BCH compared to Venezuelan fiat currency glass Val and the US dollar; best practices for storing and using digital currency; Coins (including USDH stablecoins) protect assets and prevent fluctuations; work-how to find work and pay in digital currency; and how developers and future developers participate in BCH. At present, the Bitcoin Cash House has been established in Ghana, Venezuela and other third world countries and continues to heat up.

At present, due to the epidemic, the Bitcoin Cash House has to make changes. All the work of the Bitcoin Cash House is temporarily digitized, and the BCH is displayed to the locals through the Internet. 

By helping Africans to adopt BCH, they can receive remittances from relatives and friends in any country in the world at a negligible handling fee; through the promotion of BCH, they can help support paid merchants to advertise to obtain global customers; The advantages of BCH help companies gain a competitive advantage. Enterprises and companies that accept Bitcoin Cash are more technologically advanced than other companies and have higher profit margins.

EatBCH

At present, EatBCH has helped thousands of Africans solve the current poverty through BCH. Bitcoin Cash is for everyone. With BCH, we can do something that makes Africa better.

1
$ 0.00
+ $ 2.63 in other submissions
Sponsors of arslankhalid
empty
empty
empty
Enjoyed this article?  Earn Bitcoin Cash by sharing it! Explain
...and you will also help the author collect more tips.

Comments

I have never imazine africa ro be so much advance in cryptocurrency. It such a mind blowing to read suvh good article abiut africa

$ 0.00
7 months ago

The volatility of cryptocurrency is of concern. But the realization of an effective infrastructure will definitely put Africa in a good position.

$ 0.00
7 months ago

The volatility of cryptocurrency is of concern

$ 0.00
7 months ago