Cryptocurrencies in Northern Africa: Lack of Awareness

Blackmoon Crypto (BMC) offers their platform in Africa, where they are currently expanding, but they might not be as prominent there as they are in the Western world. There is a lack of awareness of cryptocurrencies in Northern Africa, and BMC would like to address this by educating potential crypto investors on how they can use BMC to invest in other crypto coins easily and securely. They have already done so by partnering with new economy in Northern Africa; however, they need to do more to raise awareness about the convenience and safety that their crypto services provide.


The Difference Between Bitcoin, Ethereum, Ripple and Litecoin

Bitcoin (BTC) is the best-known cryptocurrency and is sometimes referred to as the ‘father’ of crypto. It is decentralized, meaning that no person or organization controls it. Bitcoin operates on a peer-to-peer network, with transactions verified by Bitcoin Miners and recorded on blockchain, which are then stored on a distributed ledger.

Ethereum (ETH) is an open-source, public blockchain platform for building decentralized applications and smart contracts based on the Ethereum Virtual Machine. Unlike Bitcoin, Ethereum can process significant amounts of code – something needed for applications to be truly revolutionary. Ripple (XRP) has been rapidly expanding into the market due to banks trusting its stability more than that of other cryptocurrencies. The price of one XRP was about $0.48 USD on January 1st 2018, but rose dramatically in December 2017 reaching a peak at $3.84 USD per token; this shows how volatile crypto currencies can be and how they can fluctuate so quickly between high and low prices. Litecoin (LTC) is similar to Bitcoin but with faster processing times of 2.5 minutes compared to 10 minutes for BTC; this enables transactions much quicker while also allowing greater volume per block because there are four times as many coins generated daily in comparison to BTC’s 24 blocks per day. However, there is not yet a widespread awareness of crypto currencies such as BTC, ETH, LTC and XRP in Northern Africa and this may hinder their future growth


What Is a Blockchain?

A blockchain is a decentralized ledger technology. It is an ever-growing list of blocks that contains the history and records of transactions, starting from the first block created which is the genesis block. There are only two rules on how to be added to this list: the data has to be verified, and a digital signature must be obtained by whoever submits it. Blockchain was originally created for Bitcoin in 2008 by Satoshi Nakamoto. The same framework can be used for other crypto currencies as well such as Ethereum or Litecoin. Future predictions have bitcoin going up to $2 million by 2022. Businesses around the world need crypto currency investing knowledge now more than ever before. Crypto currency values are unpredictable, but there’s always risk with any investment decision. Northern Africa should stay up-to-date with crypto currency trends because they could see increased business opportunities if they adopt these technologies early on. Bitcoin itself is not limited to Northern Africa, so many countries in the region would benefit from adopting it into their business systems. Bitcoin and other crypto currencies also carry risks just like all investments do, so it would be important for businesses to do their research before making a move into this new technology.


How Did Crypto Become So known?

In 2009, an individual or group under the pseudonym Satoshi Nakamoto created Bitcoin. Satoshi, who never revealed his/her identity, developed a system that allowed peer-to-peer transactions to be done without the need for any financial institution or central authority, with each transaction verified and confirmed by other users on the network through cryptography. Bitcoin reached $100 billion market cap in early 2018 and many projects followed suit with cryptocurrency offerings, such as Ethereum and Litecoin. Today people can buy crypto assets through investment funds like hedge funds that invest in both crypto and traditional assets, use crypto currencies to pay for goods and services (albeit with high volatility), as well as mine them using devices like GPUs. Altcoins like Bitcoin Cash and Ethereum are following suit. Investors are rushing into crypto investing in droves because it’s been difficult to earn returns from traditional investments due to low interest rates; this has led some observers to believe that crypto is filling a space traditionally occupied by stocks and bonds . In order to continue building momentum and promote awareness of crypto currencies in northern Africa, regulators should focus on improving their understanding of crypto. One example of how regulators could improve their understanding would be by focusing on cases where there was clear money laundering and fraud committed using crypto currency.

In order to continue building momentum and promote awareness of crypto currencies in northern Africa, regulators should focus on improving their understanding of crypto. One example of how regulators could improve their understanding would be by focusing on cases where there was clear money laundering and fraud committed using crypto currency. These types of violations offer a more tangible way to see how crypto is used for illicit purposes. By doing so, regulators will be able to identify better ways to prevent illicit activity in the future and implement stricter regulations on crypto exchanges and trading platforms. Furthermore, if regulators were more knowledgeable about crypto they would be able to tell when businesses were not complying with regulations like reporting requirements. Regulators also need increased understanding of what are considered virtual currencies versus digital currencies (or vice versa). With increased regulation businesses will feel safer investing in emerging markets such as Northern Africa where there is currently very little knowledge about cryptocurrencies . Increased regulation means companies would have to meet certain standards before they can invest in crypto projects which may increase trust among investors. For example, companies must publish their audited financial statements at least once every year and file all necessary documentation with local authorities. They must also publish an annual report containing details of their business operations including management’s assessment of future developments and prospects for profit growth, together with the company’s key performance indicators such as turnover, profits after tax and cash flow figures for at least the last three years – plus explain whether these expectations have been met.


Are Governments Actually Attacking This Form of Currency?

It’s unclear what kind of government interference the Egyptian government had against crypto currencies, but their plans may have been that bitcoin would be illegal.

The Nigerian Central Bank released a notice on December 12th stating that the Central Bank does not guarantee the safety and security of those who are dealing with virtual currencies. The Bank did not release more information as to what this means, but it could suggest future actions against crypto currencies such as enforcement by law, criminal charges or increased risk warnings for customers doing business with banks operating in Nigeria.

In addition to this, Algeria had also banned bitcoin mining within their country as well. The future of crypto currency investment is looking grim. Bitcoin has been recently trading at $8,000 per coin and the other crypto currencies like Ethereum (ETH) have fallen significantly over the past few months too. Most people don’t know about crypto currencies because they aren’t discussed in mainstream media channels. With the introduction of new ways to buy and trade bitcoin, cryptocurrencies will soon become easier to use. However, people need to be aware of these dangers before they invest any money into them. The lack of awareness in Northern Africa can lead to many problems when people invest and then realize how unregulated crypto currencies are. The future of crypto business involving crypto currencies in Northern Africa seems bleak. Bitcoin prices have been going down since September 2017 and altcoins seem to be falling too – businesses that only take bitcoin are now struggling because bitcoin has decreased so much since last year.

Investing in crypto currencies seems risky now that they’re down so much, but the future may provide better opportunities for investors with interest rates going up instead of down. More people might start investing if they knew how crypto currencies work and if there was more transparency from the companies themselves. When bitcoin starts rising again, things might start turning around for businesses in Northern Africa that offer crypto services – Bitcoin is still worth investing in for future business purposes. People in Northern Africa should educate themselves about crypto-currencies and learn about bitcoin, eth, and btc to make sure they don’t get scammed. Crypto-currency education needs to happen on a global scale in order for all countries to avoid scams and protect investors while avoiding strict regulations that hurt business . If you want to invest in crypto-currencies, be aware of where you are investing your money. If you are living in Northern Africa, try educating yourself about bitcoin and eth to avoid future regret due to lack of knowledge.


Should You Get Involved With Crypto Now?

Crypto is a hot topic these days, and not without reason. Billions of dollars have been lost because people thought bitcoin was overvalued at one point. For crypto, the key is to invest in those currencies that you actually understand. Instead of buying altcoins such as Monero or Ethereum, research Bitcoin first then learn about Ethereum, Litecoin and Monero later on if necessary. Once you’ve learned more about Bitcoin, then find a trading platform such as Coinbase where you can buy and sell them based on supply and demand. As mentioned before though; only invest what you’re willing to lose. Investing in bitcoin has been seen as risky business by many. However, it’s possible that this new technology will become ubiquitous across the world in just a few years from now – which would mean big business for investors who are currently making their own predictions about the future of bitcoin. Crypto currency could potentially replace cash and credit cards due to their security features like transparency and faster transaction times. Bitcoin is a decentralized cryptocurrency so there isn’t an overseer controlling the value of bitcoin which makes it susceptible to price volatility but also prevents any kind of price manipulation. There are no barriers in crypto markets so everyone with internet access can invest and trade bitcoin, litecoin, monero etc. Crypto assets provide an easy way for anyone to participate in the growing global economy. Bitcoin rose over 1,000% between November 2017 and December 2017 while some crypto experts claim bitcoin is headed towards $1 million each in the future. Investing today is highly speculative so please make sure you do your research and invest wisely. Bitcoin may be worth $10,000 in five years or it may be worth nothing. It all depends on how much bitcoin ends up being used by businesses worldwide. Crypto investing is all about speculating on the future, so don’t invest anything you aren’t willing to lose. But crypto also offers plenty of potential rewards too. Some crypto experts believe bitcoin will end up being valued at $1 million per coin. That would put bitcoin’s market cap close to $9 trillion USD, surpassing Apple’s current market cap of approximately $870 billion USD. Bitcoin (BTC) has gained notoriety partly because it’s largely anonymous and untraceable outside of law enforcement agencies. With privacy coins such as Monero (XMR) gaining popularity among criminals, governments may soon take action against these types of currencies by regulating them out of existence. The problem is that most people living in Northern Africa are unaware about crypto currencies and its applications – particularly when considering using bitcoin in business transactions . Crypto is a complicated issue, and most of the population in Northern Africa doesn’t know enough about crypto to invest. But this lack of awareness is something that can change quickly. And it might not take long for bitcoin to overtake fiat currency in countries in northern Africa either.

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