Bitcoin Adoption in Africa Up Due to Trading, Remittances, Freelancing, Mining Remains Low

7 May

Bitcoin users in parts of Africa have an almost non-existent mining practice yet the virtual currency’s level of adoption is driving more Africans to its trade. Aside from a Ghanaian firm, Ghana Dot Com (GDC), which claimed it has launched the first Bitcoin mining facility in Africa in March, most mining efforts in parts of Africa are usually done on an individual basis or crowd mining with little or no chance of profitability. This is due to several factors.

Power problems

“I don’t think anyone’s doing any mining,” says Tim Akinbo, CEO of Nigeria-based TimbaObjects to CoinTelegraph. “Not with the power situation in the country. I can’t see how they intend to compete. Well, at least, if their objective is profitability.”

http://cointelegraph.com/news/bitcoin-adoption-in-africa-up-due-to-trading-remittances-freelancing-mining-remains-low

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: