Solving Real World Problems - How Crypto Is Empowering Youth In Africa

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Despite the numerous use cases that have shown the potential of cryptocurrencies and the technology that underpins them, they have consistently faced strong opposition from detractors who frequently take into account the drawbacks. Like any investment, crypto can be risky especially if you have not learned much about it before venturing, however it can also be quite profitable. Similar to the many other technologies, like the internet, which may be used to engage in various criminal activities , blockchain technology can as well be used for criminal activities but that doesn't make it evil or bad. Despite its flaws, crypto has benefits that potentially outweigh the negatives.

Years ago, cryptocurrencies were only known to a small set of people who had expressed interest and had understood their operations. They were the ones that became early adopters of the technology and had always believed in its capabilities. Previously, blockchain technology was only known to many as the technology that underpins digital currencies like Bitcoin. Today, blockchain technology is used to assist a wide range of businesses and in addition to powering digital currencies. Others will only discuss the negative aspects of cryptocurrencies, but we can start talking about how they are changing lives around the world, particularly in Africa.

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Unemployment, which is a serioissue in many nations especially Africa, is been solved with the power of crypto. The emergence of cryptocurrencies has fueled an increase in occupations associated to them helping a lot of young people to find work to do for a living.
With many coins now listed on various crypto exchange platforms and numerous trades that take place, it has become necessary for traders to trade directly with one another without the use of a third party or intermediary. People can now earn money while trading cryptocurrency, thanks to peer-to-peer trading. For many unemployed youth, particularly in Africa, this has become a good option that allows them to make income for living.

Again, with the kind of revolution that the blockchain has brought into social media, blogging has now been one of the best career option that people are beginning to consider. Social blockchains are increasingly offering content creators a lot of control over their data and assets. We can talk about Web 3.0 blockchains, like Hive, How It has transformed social media and has defined how blogging should be done. On Hive, content creators are rewarded as they share their contents and as they engage actively with other users in a variety of ways. Many young people have been able to earn crypto and have giving the chance to a lifetime investment and insurance through this.

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Many young people in Africa have always had wonderful ideas , but have often lacked the funding to make them a reality. Without the collateral that traditional banking systems frequently demand, access to loans is difficult in the most African nations. With the help of cryptocurrencies, a large number of young Africans with access to digital technologies can join various crypto platforms and take advantage of several chances that are frequently provided to those who deal with financial institutions. People who participate in the majority of cryptocurrency-based sites or platforms can earn passive income in the form of tokens that they can stake or invest and watch their value grow over time. This can be an excellent source of funds for any project.

We could continue with a list of additional opportunities that cryptocurrencies are creating for many people in Africa, but even with these areas highlighted, we can see the opportunities that cryptocurrencies are presenting to individuals and how, as a result, people have been empowered to do more and to live a better life.

Many people in Africa and across the globe are now aware of how they may be able to improve their lives by giving cryptocurrency the necessary attention. Initial perceptions of cryptocurrency were that it was a business only for the rich and those who dared to take calculated risks. Today's storylines are different, and anyone who is committed to learning about cryptocurrencies may successfully find a path to financial freedom.

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25 comments
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There's the need to learn more about how cryptocurrency works and making it your top investment policy is such a great deal. Thank you for this today bro.

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crypto learning and investment is important considering the many benefits

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(Edited)

Cryptocurrency and web3 as a whole ago have provided an opportunity that needs to be explored by a lot of people in different parts of the world.

I'm from a developing country so I know how this works and I genuinely believe that many people from similar places need to take this seriously because it is an equal opportunity for all.

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Cryptocurrency has the potential to transform many people's lives, particularly in underdeveloped countries. Those who take cryptocurrency trading and investment seriously continues to profit from it. Giving time and attention to cryptocurrency can help us achieve tremendous success with it.

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Yep. That's the fact and I've seen many people from developing countries who choose to get into Crypto full-time. The have seen the opportunity attached to it and they are not ready to let go

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I like the constant growth of crypto even in Africa and the vast knowledge of web 3... this is a great write up and a good thing going on.. Hive truly has created lots of opportunities and still doing that for years now..

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Without the collateral that traditional banking systems frequently demand, access to loans is difficult in the most African nations.

Better to avoid loans anyway. People can easily get into huge debts. I am not from Africa, but this is personal family experience. In my country (in Hungary) people can easily get a loan three times bigger as their income.

My brother have huge debt. Around 600 000 Hungarian Forint (HUF), which is currently $1555.37 USD, because $1 USD is currently 385.76 Hungarian Forint (HUF). If everything will go right, then he will pay this debt in two years.

And this is only one example. I heard about people, who take loan after loan.

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Yes, loans can put you in serious debt, but you can still benefit from them if you have solid plans in place before applying for one. Loans should not be used to buy assets that will not generate income for you; instead, you should only use them for purposes that will enable you to pay back the loan. It is a good idea to take out a loan for any lucrative venture since you can eventually make enough money to pay off the debt and acquire the assets. That's what Many rich people do; they borrow money from banks and invest it in their businesses before quickly repaying the loan to avoid accruing interest.

I started my first business with a loan and was able to pay it off fast while keeping the firm running and bringing in more profits, all because I had strong plans in place before receiving the loan. I was able to acquire the loan since I was a government employee, and receiving a loan as a salaried worker in Ghana is not difficult. It is not the same for those who have great ideas but lack the financial resources to bring them into reality; a loan could help them in some ways, but lacking what it takes to secure.

So a loan is not always a bad thing; it all depends on how you work around it and what you want to accomplish with it. With cryptocurrency, there are now various ways that users can generate passive income and subsequently invest without having to take out loans for any endeavor.

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Awesome my friend @collinz great that people in your country are experiencing how crypto can help them keep spreading the word mate have a wonderful day.😎
!ALIVE
!BBH
I will be including this content on the @heartbeatonhive curation collection

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This always makes me smile. I don't know of any other crypto that has done this.

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Cryptocurrency and blockchain have come to stay and people that don’t adopt it and hop on the train will be left behind.

Surprisingly, Ghana seems to be a lot behind Nigeria, ranked the most crypto curious country in the world! I know right?

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Hive blockchain has definitely provided lots of job for unemployed and employed youths in Africa. It also saved some tertiary institution students educationally, financially and otherwise.
Thanks for sharing this wonderful article.



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Like any investment, crypto can be risky especially if you have not learned much about it before venturing, however it can also be quite profitable.

This is so true.

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Hive does amazing things! You make these things real in your country! That's awesome!
!ALIVE

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It is good to hear that the Youth from Africa is adapting the blockchain technology for the better life. Mass adaptation in the world will bring more positive results.

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!PIZZA

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PIZZA!

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The blockchain, especially Hive has given the youth who can blog the right alternative to earn money...passive income. Thanks for sharing this piece.

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