Africans benefit the most from Bitcoin and they are quick to realize this fact and get the word out. Most know that our corrupt “leaders” will not take the path to prosperity that El Salvador has embarked on in their own interest. By signing out of the fiat-based old financial systems that are holding us back, we will make the change we want to see.
Bitcoiners in Africa are building and actively participating in this peaceful currency revolution. Let’s examine topics that will see more Africans adopt the Bitcoin standard in 2022.
Trailblazer
Orange pill Africans are leading the hyperbitcoinization push by building the infrastructure needed to attract other Africans to this idea whose time has come.
Ejara founder Nelly Chatue Diop is an inspiration for the world class platform she is building while empowering women and girls on the continent to do everything they can in this new industry. The Ejara wallet complies with the Bitcoin ethos of “not your keys, not your cheese”. Self-custody will shift the mindset of Africans towards self-sovereignty and ensure they don’t give their hard-earned wealth in unsecured loans, including deposits, to banks.
Own Internet
New infrastructure enables talented African artists, content creators and musicians to completely avoid the middlemen who often take a large portion of their revenues.
Lightning payments on social media platforms like Twitter allow people to actively grow their community while getting paid directly for the value they bring to the world.
Great minds like former Twitter CEO Jack Dorsey, who works full-time on Bitcoin at Spiral, are sure to give Africans better opportunities to reach international markets from which they have traditionally been excluded.
Initiatives by Africans for Africans, such as Fodé Diop’s Bitcoin Developers Academy, aim to teach African youth the skills they need to work with Bitcoin.
Get paid in Bitcoin
The new normal has resulted in African teenagers and young adults switching more to remote work as there are very few job opportunities on the continent, especially for the former, who make up the largest population group. “Number go up” technology has made them aware of the opportunity to get the most out of their time and efforts by getting paid in the best store of value in the world, Bitcoin.
On December 6, 2021, Bitwage made the world’s first salary payment through Lightning. This is revolutionary because Africans who now work remotely can get paid instantly without the heavy service fees imposed by Western Union, the inconvenience of using PayPal once they have chosen to block access to their funds , or the banks need several business days to process transfers with exorbitant fees.
Getting paid with Bitcoin will ultimately allow Africans to save more as nobody wants to sell their sats. You will sell the amount you need on P2P exchanges and keep the rest safely in affordable cold stores or hardware wallets like Coldcard yourself.
Free online courses with accreditation from the Saylor Academy already give Africans the opportunity to obtain a higher education and thus very good international jobs in the Bitcoin ecosystem. With unemployment very high in Africa these are just some of the ways people will be exploring in order not only to make ends meet but to thrive in this new industry.
As a full scholarship alumni of Pomp’s Crypto Academy, I know firsthand how valuable it is to learn from world-class coaches. Being part of a value-focused network will empower like-minded Africans to advance and make meaningful contributions in this area.
user friendliness
Applications developed by Bitcoiners that specifically enable the onboarding of people with all technical aspects, all of which run securely in the backend, such as the Hexa wallet, will make it easier for millions of Africans across the continent to buy and hold Bitcoin.
Sending and receiving sats through an experience without mini-heart attacks due to very long addresses guarantee that “Wanjiku” or “Akinyi” can use Bitcoin in the village without feeling intimidated.
Africans living in the diaspora can send sats to their friends and family just as easily and cheaply as the numerous video or voice calls they use to communicate with them via WhatsApp, Signal or Zoom. The world becomes a global village as the value of money is instantly moved through space.
Don’t trust, check
Rug pulls like “Squid Game” prove to Africans that they must walk down the bitcoin rabbit hole while exercising due care to avoid scams in the crypto space that can cause them to lose their money as various Pyramid schemes have done.
Source: CoinMarketCap
Reputable publications that innovatively provide legitimate educational content (e.g., 21DaysOfBitcoin), along with consistent coverage of countries, companies, leaders, and celebrities who choose Bitcoin on a daily basis, will encourage Africans to explore the legitimacy of Bitcoin as the that best fortune they can ever have.
Level up
Buying and holding is the most recommended strategy, however those with a slightly higher risk tolerance can make and borrow money from their phone using the blockchain. This is a strategy that many Africans can make money with, especially because of the compound interest that leads them to a better financial position.
After Dan Held’s two year journey to generating returns with strategies like covered calling, another great way that Africans can quickly use is to learn from legitimate industry leaders and earn more sats.
Wakanda forever
From the golden era when Mansa Musa was the richest person who ever lived to the current richest person and Forbes person of 2021 who is from South Africa and owns Bitcoin, Africans know they will be during the on the must be on the right side of history Greatest transfer of wealth in modern times.
This is a guest post by Guantai Kathurima. The opinions expressed are solely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
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