Cryptocurrency trading has been going on for years. Some companies like Amazon, use crypto coins for online transactions and to facilitate payments. Most virtual currency dealers believe that cryptocurrency is the legal tender of the future. They believe that the existing financial system will transit.
Cryptocurrency interest, adoption, and use continue to grow in Africa. In 2018, Africans conducted 6.5 million trades — an average of 17,000 daily. Cryptocurrency economy in Africa marked its 10-year anniversary in 2018, reaching a total market capitalization of approximately $138.6 billion.
Despite the adoption of online currencies, many people are still skeptical about the authenticity. Their indifference is mostly due to a lack of understanding of how it works and how to trade fiat money. In a bid to educate Africans on Bitcoin (a decentralized cryptocurrency whose operations does not rely on any government), Paxful has launched a series of educational workshops across the continent.
Paxful is a bitcoin trading company that offer payment services through their wallet. They provide over 300 different payment options for purchasing bitcoins from gift cards to credit cards. The workshop kicked off this in South Africa and Kenya this month. Subsequently, other workshops will take place in Nigeria, Ghana and other countries.
Speaking about the initiative, Ray Youssef, CEO, and co-founder of Paxful said that they desire to make bitcoin economy accessible to every African youth. This is because youths are at the forefront of peer-to-peer finance adoption. They want to reach more youths and help them understand the digital currency market and how to safely transact.
More on TechGist Africa:
- SKYWORTH Electronics Launches Voice Controlled Television in South Africa
- Microsoft Launches Africa Development Center in Lagos Nigeria
- UNICEF and Safaricom to Improve Information Access in Kenya Here’s How
- MTN Ghana Commences Payment of Q1 Customer’s Mobile Money Interest
- South Africa Reserve Bank to Launch Digital Legal Tender
Get real time update about this post categories directly on your device, subscribe now.