When a difference Bitcoin and Africa seem in a sentence, a word remittance customarily follows. When Bitcoin initial strike a mainstream in 2013, a low-cost income send underline was hailed as a resolution to a overly costly remittance costs charged by a vast income send operators (MTOs), Western Union and MoneyGram. This is generally loyal when it comes to transferring supports to Africa.
However, in a 8 years given Bitcoin was initial launched, bitcoin remittances in Africa have not unequivocally taken off.
Bitcoin’s Challenges in Kenya
Bitcoin is an attention that frequently likes to hype itself up. This has also been a box when it comes to Bitcoin adoption in Africa. As highlighted in a new essay by VICE Motherboard, a arise of Bitcoin in Africa is mostly a myth, primarily propagated by Western enthusiasts and stakeholders. The existence is that Bitcoin adoption opposite a continent is growing, though during a rather delayed pace.
The trend, however, is really positive, that can be seen by looking during trade volumes for Kenya on a peer-to-peer exchange, LocalBitcoins.com. But altogether volumes are still tiny compared to other tools of a world, and mainstream Bitcoin adoption is effectively non-existent.
Bitcoin users in Kenya and other