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10 Reasons Why Africa Will Set the Pace for Bitcoin Adoption

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bitcoin adoption

As it stands at the moment, Africa is lagging behind the rest of the world when it comes to the adoption of Bitcoin and other cryptocurrencies.

While the term “Bitcoin” is one of Africa’s most searched terms, the continent’s interest in the currency is not translating into real-life use, and there are a variety of reasons why this is the case.

But crypto experts are noticing something that could change this current start of cryptocurrency and there are even some economists who are predicting that these currencies will be the next big economic innovation that will have a positive disruptive influence.

And the many advantages that the average African will experience are the exact reason why the widespread adoption of Bitcoin is a likely reality.

Open a Free Bitcoin Wallet here!

1. Pegged against the dollar

Even the strongest currencies in Africa struggle against the US dollar, the primary currency in which Bitcoin is traded. The Rand, in particular, is struggling more than ever, depreciating as the country tries to solve its current economic woes by simply creating more. Many Africans are looking for a way to add more value to their money and by converting cash into cryptocurrency, or by taking the extra step and mining it themselves, they can do just that. View Bitcoin Price to Rand.

2. Instant payment between people

Awaiting payment slows down businesses and often some of the biggest banks on the continent have a delayed payment protocol while they do offer instant payment at an additional cost. Instant payment benefits both the payer and the payee and with cryptocurrency, this aspect is greatly beneficial to e-commerce in particular, which in emerging economies can go a long way towards encouraging entrepreneurship.

3. Secure encrypted wallets

More than 2 million people already have a secure Bitcoin wallet, which means there are already 2 million people ready to trade. Unlike the risks involved with cash and card transactions, not to mention the limiting geographical distances associated with these kinds of transactions, Bitcoin and other cryptocurrencies are safe to transact with and cannot be stolen or lost.  

4. Bitcoin is fast becoming a part of many stock and wealth portfolios

Bitcoin and similar currencies are being used by all kinds of traders to diversify their portfolios and in most cases, they are enjoying a fairly good return on their investments. For many traders, Bitcoin has become an investment alternative as it generally does pretty well and despite a few bumps over the years, it generally remains profitable. Global Stocks hasn’t outperformed bitcoin in 10 years.

5. Africa already uses instant mobile payments

Africans are no strangers to mobile currencies, which are just one step away from cryptocurrencies. Zimbabweans use EcoCash for just about all of their payment needs, continuing to buy and sell even though the country’s currency has collapsed. The framework is for the most part already in place for cryptocurrency to swoop in and make its mark.  

6. Bitcoin is down 60% from its all-time high price

This means that there has possibly never been a more affordable time for Africans to invest in Bitcoin. Since past trends have shown that Bitcoin normally picks up again, and despite what the naysayers believe, the currency shows no sign of disappearing completely or becoming financially unviable, any time soon.

7. Supply and demand

Unlike other currencies that tend to supply a nearly limitless amount of notes and coins, Bitcoin is governed by a supply and demand set up. There are only 21 million Bitcoins in existence and so demand has the power to drive up the currency value, especially when those with Bitcoin hold onto their money.

8. Crypto is becoming mainstream with Bitcoin in the forefront

Although not everyone knows or understands the complexities of these currencies, if you were to ask anyone what cryptocurrency is, their answer is likely to be Bitcoin. This is because Bitcoin has become the name synonymous with cryptocurrencies of all kinds and when people hear that there is money to be made, they take an interest.

9. Bitcoin is decentralised and not governed by any government institution.

This is arguably one of the most appealing things about Bitcoin. A decentralised currency of this kind protects users from bank collapses, bank fees and various bank policies that affect the value of their currency or determine how and to whom they may make transactions. A decentralised currency is also untouched by geographical borders and will enjoy cheaper international transactions. This type of currency is also unaffected by both inflation and deflation because it doesn’t belong to one single country.

10. Bitcoin is unaffected by global recessions

The global economy is on the brink of collapse as a massive amount of debt and economic downturn characterise many economies. And numerous economists are expecting a crash bigger than that of 2008 to come sooner rather than later. Centralised currencies are certainly in the firing line when this happens, but the decentralised cryptocurrencies are at the moment the safest option for anyone wanting to protect their wealth.

Africans can open a FREE Bitcoin wallet here!

Disclaimer: This is a paid press release. Readers should do their own due diligence before taking any actions related to the company, product or service. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in this press release.

Press Releases

Millennials Make 25,000% Returns on New Crypto and Gaming

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Crypto and Gaming

During the pandemic, the blockchain game Axie Infinity attracted a large number of millennials. The firm’s token currently boasts a market worth of over $2.5 billion

So far, the gaming token, which was introduced in November 2020, has risen over 25,000 percent, implying that a $1,000 investment would have grown to Rs 2.5 lakh in just 9 months. It is a trend that is widely expected to continue, as more gamers prefer the indoor experience, as you can play online pokies or any other game from wherever you are. Jackpot City Casino, for example, is a leading online brand renowned for its wide array of impressive gaming offerings for people from across the globe.

Axie InfinityThe cryptocurrency AXS is one among the few exceptions, having weathered the storms of May and climbed to a new all-time high, hovering around $42. After China started a major crackdown on the crypto industry in May, the crypto market saw aggressive selling in the larger and more popular coins.

The ecosystem has half a million daily active consumers, according to Vikram Subburaj, CEO and co-founder of Giotto’s Cryptocurrency Exchange, and new customers are coming from developing nations like the Philippines and Indonesia.

“For the gaming group though, AXS represents rather more than only a cryptocurrency, and therefore, it stays worthwhile in that ecosystem. The true problem that AXS will face can be in scaling each day’s lively customers to manifold,” he mentioned.

Axie, based on the Ethereum community, uses blockchain technology to entice participants. Axie Infinity Shard token (AXS) and the opposite in-game token can be earned in a variety of ways. Its universe may be quite similar to Pokemon, which many millennials can connect to.

Everyone wants to buy Axie to begin the game, and the digital pets in the games may be purchased with this digital currency. The possibility for financial gain is what has made the sport so popular, particularly in developing nations.

Siddharth, WazirX‘s COO, feels that crypto in the gaming space is one of the most significant markets. He praised cryptocurrency for its contributions in this field.

“Players spend countless cash in shopping for belongings, however are usually not capable of resale or carry that belongings to different video games. Crypto video games are a real worthy addition to video games,” he added.

Axis Infinity offers a whitepaper outlining its roadmap and goals. Staking will be introduced soon. This allows token owners to invest their money for a specified length of time and receive interest.

Crypto-related video games, according to experts, will be a big trend in the near future, with players not only exchanging NFTs within the game but also selling them to cult members. Gaming as a career is gaining momentum in the Western world, and children’s gaming expenses have increased.

New use cases for blockchain and cryptocurrencies, according to Subburaj of Giottus, will continue to revolutionize the larger world of gaming. He said that AXS had transformed gaming from a money-losing and time-consuming pastime to a money-making venture.

“When a recreation grows larger, gamers are usually not benefited aside from extra gamers to play with,” mentioned Menon. “It is superb in this area as the sport community grows and gamers develop with them.”

However, not everything is perfect for the Axie Infinity. The highly expensive Ethereum community has significant limits, and it needs reliable technology to help it progress.

Disclaimer: This is a press release. Readers should do their own due diligence before taking any actions related to any company, product, or service mentioned in this article. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product, or service mentioned in this post. 

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Press Releases

Bitzlato Extends Free Withdrawals Until the End of August!

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Bitzlato Free Withdrawals

Users from Africa really liked the free withdrawal campaign and Bitzlato decided to continue it! Trade at 0% escrow fee and get vouchers for a free withdrawal all August on Bitzlato.

What do you need to do?

On Bitzlato P2P you can withdraw your crypto for free with our vouchers for a free withdrawal!

How to get them? Very simple! 

Make at least 1 trade using one of the African local currencies (NGN, KES, ZAR, DZD, EGP, ILS, AOA, BWP) and on the next day, you will find a voucher in your cabinet. 

Trade without commission:

  • Buy and Sell cryptocurrencies at 0% escrow fee.
  • Create buying and selling ad offers at 0% escrow fee.
  • Transfer cryptocurrencies within Bitzlato users for free.

Bitzlato P2PAlso, Bitzlato has disabled the commission for transactions with USD, EUR, as well as more than 60 other currencies! Read more here.

How to use vouchers you can read on Bitzlato blog.

Follow Bitzlato on Twitter, Facebook, Telegram, Instagram, and YouTube to get the latest updates and take part in their giveaways.

Disclaimer: This is a press release. Readers should do their own due diligence before taking any actions related to any company, product, or service mentioned in this article. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product, or service mentioned in this post. 

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Press Releases

Tokentracker Launches BSC Telegram Wallet Bot

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Tokentracker

Tokentracker just released myBSCbot, a wallet on Telegram that allows you to send and receive BSC tokens easily. It is their goal to do more than help investors control the tokens they invest in. Tokentracker is also making crypto accessible to everyone! As a part of their innovation, they’re bringing you a decentralised wallet on Telegram to encourage mass crypto adoption.

The myBSCbot lives on the Telegram app and allows you to send tokens directly to addresses in or outside Telegram. It eliminates the need to go back to your external wallet apps to make a quick transaction. Anonymity is assured on myBSCbot as your name, tax identification number, or other personal information are not needed to operate your wallet.

Opening your wallet is fast and easy! Just head to https://t.me/mybscbot, and in 30 seconds, your wallet is ready.

We’re giving out 1,000 TTK to the first 10,000 people that sign up and fill the airdrop form at http://bot.ttk.finance/ Hurry, so you don’t miss out.

Benefits Of Using myBSCbot Wallet

1 It is user-friendly: You won’t be asked to go through any technical process to get started. You can sign up at the click of a button and start sending and receiving your cryptocurrencies.

2. It is safe to use: myBSCbot is safe and secure. Their goal is to make the wallet secure and easy to use, even for a 5-year-old.

3. It is easily accessible at no cost: Do you have a smartphone? Of course, you do! Then, you can use myBSCbot— anyone with a working smartphone connected to the internet can use our wallet at no cost—the only fee is a small gas fee paid to miners in BNB.

4. Available at any time: With myBSCbot, you can send and receive cryptocurrencies anytime and everywhere where there is internet coverage. What you need to do is just head to the bot and follow the process.

5. myBSCbot lets you send and receive BNB, TTK, BUSD, and USDT on Telegram, with more tokens coming soon.

PS: Currently, our airdrop program is ongoing, and we are using the opportunity to give 1,000 TTK to the first 10,000 people to sign up for our BSC wallet. Sign up now at http://bot.ttk.finance/, so you don’t miss out.

How To Use myBSCbot?

myBSCbot

We have made it super easy to get your wallet, deposit cryptocurrencies, transfer funds, and check your balance. Just follow the steps outlined below.

  1. Go to https://t.me/myBSCbot
  2. Click on “Sign up”, and immediately your account is auto-created, linking your
  3. Telegram username to a unique BSC Address.
  4. Click on “Main menu” to see options to Topup your wallet with TTK, BNB, BUSD or USDT.

To Deposit

  • Click on “Main menu”
  • Select “Finances”
  • Select “Deposit”
  • Select “Currency”
  • Your BSC Address would be generated for you to Deposit to.

To Transfer

  • Click on “Main menu”
  • Select “Finances”
  • Select “Transfer”
  • Select “Currency”
  • Enter “Receiver Address”
  • Enter “Amount to send” and complete the transaction.

To View Balance

  • Click on “Main menu”
  • Select “Finances”
  • Select “Balance”
  • And the balances of your assets would appear.

Note:

  • To view the list of available shortcuts, Enter “/help,” and you will find all the features you can use on the myBSCbot.
  • You must hold a minimum of 200,000 TTK to transact with myBSCbot.
  • Our wallet only lets you send and receive BNB, BUSD, TTK, and USDT on the Binance Smart Chain. Other BEP20 tokens are currently not supported. To list your token, visit http://bot.ttk.finance/.

Follow Tokentracker updates on:

Twitter: https://twitter.com/TTKfanpage

Instagram: https://www.instagram.com/tokentracker

Telegram: https://t.me/tokentrackerfinance

myBSCbot website: https://bot.ttk.finance

Tokentracker website: https://ttk.finance

Disclaimer: This is a press release. Readers should do their own due diligence before taking any actions related to any company, product, or service mentioned in this article. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product, or service mentioned in this post. 

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