5 Popular Cryptocurrencies in Africa

People in Africa have started to adapt to the world of cryptocurrencies, due to many notable reasons. Therefore, many organizations that deal with cryptocurrency investing and trading are contemplating the decision to take their company to Africa. As they think that there is a very large potential in an untapped market which can be beneficial for the growth of their company.

This limelight has made many cryptocurrencies popular in Africa, where people have started to realize their worth and how they can invest in cryptocurrencies to gain enormous profits in a small amount of time. Although many types of cryptocurrencies are popular around the world, there is a particular list that has seen more popularity in Africa recently.

KOBO COIN

This coin works by utilizing the mechanism of peer-to-peer currency transfer and payment systems. KOBO was developed by Felix Onyemechi Ugoji – who is a Nigerian entrepreneur based in the United Kingdom. The main reason behind the popularity of the Kobo coin is that it is one of the first decentralized African currencies.

Furthermore, the transaction fee of the Kobo coin is very reasonable, and the transaction speed is faster than other currencies. These are some of the reasons why it has gained popularity the recent time.

Mcoin

As of recently, mobile banking has gained a lot of popularity in Africa. Consequently, mCoin has also become more popular because you can transfer these coins by simply using text or default applications on your phone.

Another striking feature of the mCoin is that it does not require access to the internet to function, as it works through your mobile network, which is very feasible for people to use across Africa – where in certain areas there is a lack of infrastructure and proper bandwidth connection.

Ethereum 

African investors have started to look for different ways to stabilize their assets since the value of the Rand has dipped recently against the US dollar. Therefore, Ethereum has started to gain popularity since it is not as expensive as Bitcoin and the wallet is not that hard to access.

Ubuntu Coin

Ubuntu coin is a revolutionary project for the people who hail from African descends. Recently at an award show, Ubuntu Coin won the “African bankers award” for being popular among the investors in Africa.

The coin was created by the Ubuntu Capital Group and their business partners Africa 2.0 so that Africans can transfer, save, and build their wealth with conviction to overcome whatever losses they have faced in the past.

The main reason for its popularity in Africa is because the coin was created exclusively to empower the African community – whether they reside in Africa or anywhere around the globe.

Bitcoin

The real king of the cryptocurrency world – Bitcoin is popular around the globe. However recently there has been a gradual increase in its popularity and usage in Africa. Because of the growing trade across the continent, popular cities like Nigeria have been nominated as the emerging leader in the Bitcoin industry.

One of the notable reasons is that Africans have started to use mobile banking. Investors have found refuge in cryptocurrencies since their currency (Rand) is volatile, but the profits are enormous when it comes to investing in cryptocurrencies.

Conclusion:

Cryptocurrency is gaining popularity with each passing day. As the prices are surging enormously, making people rich quickly. Africa like the rest of the world has started to catch up with the trend. Due to the enormous untapped market and their interest in mobile banking, cryptocurrencies like Bitcoin, Ethereum, and Ubuntu coin have started to become popular among the masses.

African investors have started to use websites like news spy to get access to cryptocurrency trading – to make money off of it while playing it safe because of the AI algorithms. Whatever the medium may be, cryptocurrencies have arrived in Africa and are here to stay!