Best Ways to Use Bitcoin in Africa
So you’re in South Africa, Nigeria, or somewhere in Africa. Time to actually use bitcoin. You’ve started trading Bitcoin on iceCUBEDX. Maybe you’ve earned some profit in Bitcoin. You want to try it in the ‘real world’.
What are the best ways to use bitcoin, in Africa, today? Here are some ideas.
- Buy Something Online: There are a few stores that accept Bitcoin payments directly. But that Shouldn’t limit you. With third party services like purse.io and all4btc you can buy anything online with bitcoin. This is ideal for our Nigeria clients. Or those that don’t have a credit card. There is no hassle with conventional online payment methods. With bitcoin it’s easy and hassle-free. It just works.
- Donate to a Charity: Why not take some of your profits and help those in need. You’ll make the world a better place. There are many charities, representing a wide range of causes, accepting bitcoin. And through the power of the fully transparent blockchain, you’ll have better knowledge of how your funds are ultimately used.
— Blockchain (@blockchain) May 13, 2015
- Send Money to Friends and Family: Bitcoin is great for foreign remittances. Do you have friends or family overseas? Are you sending them money regularly? Maybe you can get a better deal. Those remittance fees can really add up, over the year. Sending them the bitcoin is obviously the cheapest way. Then they can turn it into cash, at their end, as they like.
- Lend for Microfinance: There are services like BTCJam that will take your Bitcoin and lend it out. Just like a bank, you earn interest on your Bitcoins. Obviously there is risk. But it can be a great way to leverage your earnings. The receivers of the loans are often small businesses who find it difficult to raise finance through conventional means.