Why African millennials can't get enough of Bitcoin

in #life7 years ago

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Bitcoin's eye-watering price surge over the past year is proving too tempting to resist despite fears that cryptocurrencies are a bubble floating towards an inevitable burst. One group for whom it holds particular appeal is African millennials, writes the BBC's Catherine Byaruhanga from Uganda.

Thirty year-old Peace Akware in Kampala is a convert to the cryptocurrency craze.

Like any self-respecting middle class millennial here her smartphone is always within reach and with it her digital wallet.

"I check my Bitcoin every day and any chance I can get.

Any minute, any hour, anytime, as often as I can," she tells me from the small bungalow she rents on the outskirts of Kampala.

http://www.bbc.com/news/world-africa-42582343

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This really does show the power of cryptocurrency as providing unique solutions to fast transactions across the globe without expensive middle men and charges - something which is in huge need in third world countries with struggling currencies. I think the acceptance in those countries will be faster than in countries with stronger and more established financial systems, despite the technological advancements in those countries.