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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.

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Introducing the Next Generation of Trading: EmpireChain Announces Unique New Feature That Makes Profitable Peer-to-Peer Crypto Exchange a Possibility

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Empirechain

EmpireChain platform is a breakthrough development in the cryptocurrency and blockchain space. The new platform allows users to exchange currency and form a reliable trading community while earning profits by selling cryptocurrency at their own rates.

EmpireChain is now offering people a unique chance to enter the crypto space with confidence and start earning profits with little to no experience. The platform has introduced an innovative peer-to-peer crypto exchange feature that will break many boundaries, and open many doors for people who previously felt like they didn’t have enough money to invest in crypto.

In many African countries where people face a lack of online payment sources, EmpireChain will fill a big gap in the market by allowing easy online payment access to all users. By empowering a new generation of traders from all across the world, EmpireChain will diversify the cryptocurrency market with users who bring new dynamics to the table, thus becoming a stepping stone for the evolution of crypto.

Empirechain MabhenaEmpireChain founder Elson Mabhena has been proactively involved in the blockchain and crypto space since 2014.

He is passionate about helping people enter the crypto space and aims to spread his knowledge, skills, and his expertise to a large number of future crypto experts. Over the years, he noticed limitations in the crypto space that stopped some people from investing in cryptocurrency and making a profit. These limitations range from lack of money to be in a geographical location where reliable online payment options are not available, and many more. This gave Mabhena the idea to create a platform that is not only available to users from all across the globe but also allows them to exchange crypto, create a community and forge friendships with crypto enthusiasts.

A spokesperson for EmpireChain made an official statement for the press: “EmpireChain is an easy and innovative solution to the limitations and challenges that come with making a profit from cryptocurrency. For a long time, cryptocurrency has only been available to those who have a large amount of funds to invest, or those who have reliable online payment and crypto platforms available to them. With EmpireChain, a large demographic of people from many parts of the world will finally have access to crypto trading. They will also be able to take advantage of the peer-to-peer exchange feature to easily buy and sell currency.”

The spokesperson further explained the peer-to-peer exchange feature “Our peer-to-peer currency exchange feature is a profitable opportunity for traders who want to earn money daily by exchanging crypto or fiat on their own rates. EmpireChain gives users the freedom to use their trading skills to maximize their profits, which means ordinary people with no crypto background can enter the platform. By forming a community with like-minded traders, users can increase their trading knowledge while creating long-term business relationships that will be highly beneficial for them.”

With Arbitrage trading and convenient payments in local currencies, EmpireChain is also protected by Escrow to ensure that all users get their payments on time, without any delays or hassle. Furthermore, the company is also offering a unique giveaway for new users.

During its Pre-launch offer, EmpireChain is giving away free Shiba Inu coins to users who register on the company website and verify their details. This gives new users an opportunity to kickstart their crypto journey and start earning profits from the very first day.

Interested people can register now on the official company website at https://empirechain.net.

Twitter: https://twitter.com/EmpireCryptoTv

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

Youtube: https://www.youtube.com/c/EmpireCryptoTv

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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Conflux Labs x ChainIDE: Hydra Developer Bootcamp

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Hydra Developer Bootcamp

Co-hosted by the Conflux Network and ChainIDE, the Conflux Labs x ChainIDE: Hydra Developer Bootcamp is launching its opening ceremony starts on April 2nd at 1 p.m. UTC+1. In providing cutting-edge knowledge to African developers, the Bootcamp is free to participate with a 7000$+ prize pool to be claimed.

The event is expected to provide African developers with a four-week free course, covering topics from in-depth Africa crypto industry analysis to intensive developer courses for all-level developers. The topics of the courses also cover the most trending fields like Metaverse, Web3.0, and multi-chains, providing both theoretical and practical knowledge to future Web3ers.

Guest speakers of the event include industry pioneers of blockchain technology and the African crypto market, amongst them, will be present the CEO of White Matrix, Global Expansion Manager of Conflux Network, founder of ChainIDE, founder of Lead Wallet, founder of Cassava Network, CTO of Quidax, founder of Blockchain Nigeria User Group, as well as the co-founder of GIGx. More industry pioneers are to be discovered in the short future.

ChainIDE is the world’s first cloud-based multi-chain blockchain IDE and has hosted multiple bootcamp events in collaboration with industry leaders including Binance. ChainIDE supports more than 10 well-known blockchain ecosystems including Facebook Diem, AntChain, Ethereum, and Huawei Kunpeng. So far, ChainIDE has helped developers in more than 185 countries, providing over 8.5 million smart contract compilation services and 70 million blockchain middleware traffic.

Conflux is committed to building next-generation blockchain infrastructures, and the Conflux network uses a scalable consensus algorithm based on the tree-graph structure. This solves the problem of wasted computing resources and reduced security caused by forking in highly concurrent networks so that consensus is no longer a bottleneck for blockchain performance. It is worth mentioning that the Conflux network has achieved a high throughput of 3000+ TPS without sacrificing any degree of decentralization, making it an industry pioneer.

Event Registration:

https://docs.google.com/forms/d/e/1FAIpQLScx-OzoePNhf4-w7uo6SAEPT_Ckw9JH7VccyuIq_9askqWF9w/viewform

Latest bootcamp info:

https://t.me/ChainIDEAfrica

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Amber Group Strengthens Management Team with Ehsan Haque as EMEA General Counsel

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Ehsan Haque

SINGAPORE, 21 March 2022Amber Group, a leading global digital asset platform, is proud to announce the appointment of Ehsan Haque as its General Counsel for the Europe, Middle East and Africa region (EMEA). Amber Group’s latest appointment comes amid the company’s global expansion plans and its ambitious licensing and regulatory roadmap. The company, now valued at US$3 billion following two successful Series B and Series B+ rounds, has since been expanding with new offices worldwide and regulatory licenses secured in Europe, Latin America and Asia.

As Amber Group’s General Counsel, Ehsan will work closely with Chief Operating Officer (COO) Wayne Huo to lead Amber Group’s legal and regulatory risk management in the EMEA region, and ultimately deepen the company’s relationship with regulatory authorities in these markets.

Ehsan joins Amber Group after an illustrious career as an in-house counsel at various established investment banks, broker dealers, private equity firms and fintech start-ups. Ehsan trained at renowned international law firm, Slaughter and May, before joining Deutsche Bank as an in-house counsel, overseeing Equities Sales Trading and Global Markets Derivatives. He later joined Royal Bank of Scotland (RBS) Global Banking and was part of the senior management team at Nomura’s EMEA Legal Department where he led the Equities legal product coverage for the region.

Ehsan was most recently a General Counsel at two different fintech start-up businesses, including Lendingblock, a cryptocurrency borrowing and lending platform. He served as Global General Counsel at a private equity firm that has US$13B AUM across the fintech and digital assets space prior to joining Amber Group. Ehsan also acts as an advisor to a leading fintech accelerator and was featured in The Lawyer Hot 100 2022 list.

“I am excited to be joining Amber Group at this stage of its incredible growth journey so far. The regulatory landscape for digital assets is ever-evolving and these coming few years will be defining ones for the industry as we work towards securing eventual regulatory clarity across the EMEA region and the world. I look forward to supporting the company’s growth and to guiding the legal and regulatory risk management as part of Amber Group’s strategy in the EMEA region,” says Ehsan Haque.

“The EMEA region has long been a strategic market for Amber Group as the region has led a variety of neobank and neobroker-related innovations for the global financial ecosystem. We are proud to be welcoming Ehsan who makes a great addition to our team at Amber Group. With his strong track record in both traditional finance and emerging fintech start-ups, we are excited to work with Ehsan and build a strong regulatory framework that supports the viability and utility of new industry innovations in the EMEA region and accelerate the company into the next phase of growth,” says Amber Group Global COO, Wayne Huo.

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Media Contact

Stella Wang

pr@ambergroup.io

About Amber Group

Amber Group is a leading digital asset platform operating globally with offices in Asia, Europe, and the Americas. The firm provides a full range of digital asset services spanning investing, financing, and trading, servicing over 1,000 institutional clients and a growing number of individual investors worldwide.

For more information, please visit www.ambergroup.io.

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