Cradle of Cryptocurrency: Digital Money and Africa
Posted: Wed Nov 29, 2017 8:52 am
Yesterday, the price of one bitcoin hit $10,000 for the first time, which was big news in the West. However two weeks earlier, while the coin was trading at around $8,000 at most exchanges, it had actually reached $14,000 in Zimbabwe as political crisis and economic turmoil caused people to turn to Bitcoin as a safe haven asset lest their savings be wiped out by hyperinflation.
This news was certainly headline worthy, but not typical. What is the general state of cryptocurrency in the African continent?
Cryptocurrency has become very popular across Africa, although its legality is a mixed bag. Nigeria ... (read more)