Author: David Itopite

El Salvador made history (and headlines) after becoming the first nation to endorse and approve the world’s most popular cryptocurrency, Bitcoin, as a legal tender. The move makes Bitcoin acceptable for transactions within the Central American country alongside the U.S dollar, which has been serving as the paper currency since 2001. This comes after the so-called “Bitcoin Law” came into force after passing legislation in June of 2021. El Salvador’s government announced that it had purchased 400 Bitcoin in 2 tranches of 200 each and plans to get more in the future. The move to adopt Bitcoin has been justified…

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Many nations have taken cues from the world of crypto and its resounding successes over the last decade. In order to avoid getting left behind, governments worldwide are increasingly turning their attention towards implementing some form of digital currency, a CBDC which in full is Central Bank Digital Currency. Although inspired by cryptocurrencies, CBDC’s are quite different from traditional crypto platforms. The main differences are that CBDC’s are unlikely to be decentralized, the supply of this currency regulated by the host’s country’s central bank as the CBDC is designed to operate as a sovereign legal tender, the digitized form of…

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Crypto Wild West. Source: Decentralize Africa Bitcoin is big in the crypto world and for good reason. It’s the first real world application of blockchain tech, has been around the longest, and has received the most trust and attention. As a result, it is more valuable than every other cryptocurrency out there. This is evident with Biitcoin’s market cap of $874 billion, compared to the next contender, Ether, whose market cap is $378 billion. Therefore, it’s not misguided to choose to judge the health of the crypto market using Bitcoin as a yardstick, just as one could, in certain cases,…

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The African crypto market has seen a tremendous boom in the last few years. Driving this growth are a myriad of factors among which are economic inequality, volatile fiat currencies, low financial inclusion as well as high unemployment rates. These drivers of market growth are also greatly intertwined with Africa’s unique demographics which entail the distribution and categorization of the population. The goal or aim of many cryptocurrency projects and the movement of the community in general is to get to a point where they’re widely used and accepted by individuals, corporations and governments. This implies mainstream adoption, much like…

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Image Credit: Kabiru Yusuf It goes without saying that cryptocurrencies are quite popular in Africa’s largest country. This popularity exists quite pervasively amongst a demographic of the young, internet surfing section of Nigeria’s population. Obviously, access to information and particularly the internet are key to the penetration of any cryptocurrency in any society, and this informational access isn’t particularly lacking in Nigeria. Nigeria has an internet penetration of about 50% amounting to around 104 million people with internet access according to DATAREPORTAL. 15.8% or 33 million people use social media in Nigeria with 61.4% of that figure using the micro-blogging…

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