According to my friend, she’d say Africans have carried Cryptocurrency on their head lol.
Ps. My friend has a video after the conclusion. A lot of crypto enthusiasts gave a vote of confidence on it, don’t miss it.
Well, the truth is that as an African I believe we love to explore new things, and Cryptocurrency shouldn’t be an exception, aside from it being the newest amazing thing down the block it is also a good innovation.
Well, this article might get to your screen when we are still having the Crypto crash or when it’s over, but whichever way cheers to bitcoin and all alt coins we are still going bigger.
Yes, Crypto is the new oil but it’s that oil that’s taking the control out of the hands of various governments and Africa is still learning democracy so you’d agree with me that it’s a though one for Crypto innovators, Crypto lovers, and Crypto enthusiast with the laws and bans by various African governments.
With that in mind, here are the top Cryptocurrency friendly nations in Africa.
10 Cryptocurrency Friendly Countries In Africa
Some of the criteria for the countries on this list are those countries that have no ban on Crypto activities, or those that have only slight regulations on Crypto-related activities.
1. South Africa
Having South Africa on the list would be shocking to a lot of people but let’s call a spade a spade right?. When I mentioned South Africa I am referring to the country and not the region, but even the region has a wide acceptance to Crypto.
South African country is the hub of cryptocurrency in Africa with the highest number of its population possessing bitcoin.
On the streets of SA bitcoin ATMs are visibly seen, and at the time of writing this there are no sanctions on Crypto related activities in South Africa.
Even Luno, the most popular exchange in South Africa confirmed this: $4 million worth of bitcoins are traded for the South African Rand each day on Luno.
Well in Africa the southern region is playing a good role in cryptocurrency, not to forget that in Botswana there are also visible bitcoin ATMs on the streets.
The satoshi center in Botswana is also an open place for an enthusiast or a newbie in Crypto to go there and meet like-minded folks.
So let’s take a swing to the west side of Africa and here we have Ghana, another big hub for cryptocurrency. Ghana alongside Nigeria is amongst the countries of the world with massive adoption of Cryptocurrency.
Crypto Exchanges founded by Ghanaian entrepreneurs include CryptoBitz, Payplux, Ewalletgh.com, BtcGhana, Vhcex, BitAfrika.
Currently, you can find two Bitcoin Atms in Accra, Ghana.
4. Saint Helena:
This country might not be familiar to you but guess what! It ranked 3rd in the list of countries with the highest online search volume for bitcoin as of 2019.
Today in Saint Helena I can proudly tell you that a lot of local stores accept bitcoin as means of payment.
5. Eswatini (Swaziland)
Another beautiful country in the southern region of Africa.
There aren’t any Crypto Exchanges in the country but Cryptocurrency has a strong foothold in the country to the extent even the CBN governor Majozi Sithole made this statement.
“it may not be wise to dismiss virtual currency and as the CBS we are learning, and we want to accept and support innovation”.
it’s amazing to note that this small country in Eastern Africa also has a good number of Cryptocurrency enthusiasts, users and early adopters.
Today, this country can boast as one of the countries where Bitcoin ATMs are located in the world.
Cryptocurrency adoption in this country has a high range of factors and one that picks interest is due to the low salary earnings in the country.
And in the city of Kampala Spe Taxi Club, local taxi services accept bitcoin as one of their methods of payment.
Not to dismiss the history that the country is the first African nation to host the largest African Blockchain Conference in 2018 and 2019.
And if you’re to list countries with bitcoin ATMs, leaving Uganda out of the list would be a crime to bitcoin, because they also have bitcoin ATMs on the streets of Kampala.
The operations of Cryptocurrency in this country is regulated and monitored but it’s financial body.
That’s not to say that Cryptocurrency in this country is under any ban, as of the 1st of March 2019, the Mauritius International Financial Centre (IFC) became the first jurisdiction to provide a regulated environment for the custody of digital assets.
This has prompted a lot of Cryptocurrency based businesses around the world to be registered in Mauritius.
Cryptocurrency adoption in this country based in the Northern region of Africa is pretty broad considering the fact that there is no single Crypto exchange in the country.
But if you are in this country by any chance your best bet to buy Cryptocurrency is by using etoro or Binance.
The governments of this nation are futuristic and have a good mindset towards digital currency and as such in 2017, the Central Bank of Tunisia set up a committee to deliberate on the prospect of using crypto to de-cash and resuscitate the ailing economy.
This little independent region that is located towards the northwest coast of Africa also has a huge Crypto adoption.
Bitcoin in this country is quite favourable and the amount of local businesses and individuals that accept bitcoin as a means of debt settlement is quite on a good scale.
Bitcoin in Africa is still in its early stage, and we hope for it to keep growing. Some countries were not on this list not because bitcoin doesn’t exist there but due to government sanctions and heavy ban we can’t place them on this list else we’ve made void of our own listing rules.
Remember my friend I talked about in the beginning of this article? She has an interesting video on Cryptocurrency – it would be a Crypto sin if you don’t watch it.