Crypto Is Booming In Africa Regardless Of Government's Hostility.

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A couple weeks ago, I talked about how Africans were taking crypto affairs quite seriously. I made emphasis on how citizens from countries like Nigeria, South Africa and Central Africa Republic were going all out on cryptocurrencies, NFTs, Web 3.0, Defi and it seems like this is just the beginning.

Cryptos have been quite popular in many African nations for over a decade but in the early stages, some people didn't really understand the tech, some felt it was a scam especially since many Ponzi schemes used cryptos particularly Bitcoin as form of payment on their platform and also many who had invested in the early stages didn't get in first with Bitcoin, hence why many had really terrible experiences with cryptos at first. But after a while, people began to understand the tech wasn't the problem but how it is being present, what it had been used for and how it was exploited were infact the problem.

The 2017 bull market had alot of returnees as usual, but now, more people stayed back and since cryptos were offering more opportunities and paid higher than the minimum wage in most countries, many people joined the train to ta from the opportunities cryptos could offer to make their lives better.

This wasn't restricted to just buying cryptos, there has been a rise in people's interest for IT skills especially those related to the blockchain tech. This is because alot of people also realised that it having cryptos or buying NFts is just one step to securing their future, developing themselves in high demand skills especially those that would be useful in the future is a better way to secure their future and they'd really not to wait until prices of cryptos go up before making money.

African countries are topping the list of the most cryptos traded daily and most crypto holders. More business are beginning to accept cryptos as a means of payment, people enrol their kids to learn crypto/ blockchain related skills/ courses and almost everyone is really just into cryptos in one way or another. Although crypto has become a global phenomenon, all eyes are on Africa right now.

The issue however is that the government still doesn't recognise cryptos and treat it as a threat. But that seems to be reducing now as even government officials are beginning to see that they may just be missing out on some great opportunities if they keep acting like crypto is their doom.



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