Overview Of: The crypto Future of Africa
The crypto Future of Africa In Nigeria, Africa, the Central Bank issued a circular addressed to banks and other financial institutions with the instruction that transactions in crypto currencies and that the facilitation of payments for crypto currency exchanges were prohibited.The central bank further instructed all banks and other financial institutions to identify individuals or entities that transact in crypto currency or operate crypto currency exchanges and close their bank accounts.This happened in February 2021 This restriction and other prior ones are temporary setback for crypto currency trading in Africa. Since the enforcement of such cutback,
Crypto currency trading has bounced back in terms of volume and has proven to be what it was designed for – a decentralized currency, free from the control of regulators.A lot of countries in Africa grapple with unstable economies and currencies. Some of these countries also restrict access to foreign fiat currencies, making it extremely difficult for people there to hedge their money against inflation. This is a problem solved by crypto currency. People can purchase stable coins which are pegged to foreign fiat currency, and use this to insulate their money against inflation.Setting up crypto mining farms for network confirmations is another way Africans add value.
More Africans now learn how to become programmers. They become blockchain experts, and as a result add value to the cryptocurrency ecosystem.This is helping to create a lot of value and creating opportunities for wealth creation. Today, more than ever, Africans contribute to worldwide development of , one of such contributions is Lotucrypto, a cryptocurrency exchange developed in Africa.This is a unique and powerful exchange, which helps people profit from cryptocurrency. The exchange helps users convert giftcards to cash (fiat),
and also into cryptocurrency.Lotucrypto exchange offers escrow services, this means that it solves the problem of trust in all forms of transactions. Utility bills can be also be settled with the aid of Lotucoin. Lotucoin was developed as a means of linking fiat with cryptocurrency, aiding liquidity.By accepting Lotucoin, as a payment medium, a merchant will have substantial benefits. One of such benefits is having swift and secure transactions on the blockchain. Another benefit is having coupons and vouchers for customers who pay with Lotucoin.This will boost the volume of transactions of the merchant. Developments like this and many more, go on to show that the future of cryptocurrency in Africa is very bright, there are a lot of gains to be made,
and it pays to get in early.Lotucoin is still in its infancy, in a short while early investors in the project will reap the rewards of making wise informed decisions