Kevin Nyango
TechInAfrica – Getting services or making purchases by the use of Bitcoin seems to be expensive than the current services like WorldRemit. High transaction charges rates and inability to change it into the local currencies have been a barrier when it comes to Bitcoin usage in Africa. The adoption of the Bitcoin into the local markets has been at a slow rate. The leading countries whose citizens have embraced the Bitcoin currency into their economy are only in Kenya, Nigeria, South Africa, and Ghana. The four mentioned countries have the highest internet level and strong economy in Africa.
Availability of internet service is key to the Bitcoin absorption, and it has played a major role in the currency adoption within the continent. As much as the adoption of mobile phones is on the rise, mobile data has remained expensive and inaccessible in some areas leave alone even in South Africa, and Kenya believed to have the best infrastructure in the region.
Bitpesa is the most outstanding Bitcoin startup on the continent. Bitpesa is a Nairobi based company launched back in 2013 and the fact that the Kenyan mobile data is on the rise, it has made the company to outshine other startups in its operations. The company has expanded its services to most African customers and has linked Africa to China with Bitcoin operating as the market link.
Sun Exchange is another Bitcoin startup found in South Africa. The company deals with an online solar market place that gives investors a chance to purchase solar panels for business and communities in Africa using Bitcoin. Investors are in apposition to receive rental incomes after buying solar panels for schools, factories, and hospitals.
ICE3X startup operates in Nigeria and South Africa where users can purchase goods using Bitcoins instead of the local currencies. Golix found in Zimbabwe enables locals to buy Bitcoins using the local money which is US dollars. Bitland found in Ghana is a startup that allows the citizens to secure their lands by recording their lands serial numbers onto the blockchain to prevent the loss of the land through the wrong ways. NairaEx is located in Nigeria, and it gives users a chance to exchange Bitcoin with the local currency.
Be warned of scammers who will lure you to good deals to con your money. There are so many scam groups on social media that have referral links citing Bitcoin as the methods of payment.
