Post
Topic
Board Bitcoin Discussion
Re: Bitcoin's Role in Africa
by
Zaguru12
on 06/04/2023, 21:57:31 UTC
Over the past three years, the Nigerian cryptocurrency market has become so significant that it has caused worldwide stare. Compared to any of the central African countries, Nigeria's market is much larger. Even the largest exchange in the world, Binance, took advantage of the Nigerian market and created an avenue for it.

I would say this can easily be associated with the fact that Nigeria (200 Million) has a larger population than the Central Africa Republic (approximately 6 Million). If we look at the percentage of the youths in Nigeria which is around 60% and almost all the youths are involved with bitcoin then it is logical that this number will actually cause more stare to the than the entire CAR using bitcoin.
Op there is clause in your thread I might have question, which kind of business are you talking about? If you mention the business then the aspect will be very easy to discuss but as for now, I really don't know the specific business it has created. Is it trading, investment or selling and buying of goods and services?

The easiest business opportunity that bitcoin could create in Africa is the ability of businesses to expand due to the use of bitcoin as a gateway for transactions. This could bring in customers from various countries mostly African countries which in the past have found it hard to trade due to the lack of a central exchange currency in the continent. Bitcoin as a means of payment could save the customers from the unnecessary hassle of the banks.