Africa cryptocurrency exchange (Opinion)

Africa cryptocurrency exchange

Is Africa ready for a cryptocurrency
an exchange that can serve the whole continent?

– Yes I guess they are very ready, especially with more and more projects starting in Africa with bigger capital to deploy for their actions and usually less need to spend because of less local cost (compared to international levels like US or Singapore as example)

– Many International platforms already do cover the whole of Africa for trading, but one focused on it could help it a lot to solve some disadvantages which African users face (like usually no access to crypto cards or hard KYC/proof of address which can sometimes be hard in Africa)

Are there drawbacks to a pan-African crypto exchange?

– Possible scams happening in a specific country (south Africa or Nigeria for example) could affect the whole of Africa 

(Like the 2 brothers who did flee with 3.6 billion or the  588 Mio Ponzi’s%20biggest%20crypto%20scam,US%24588%20million%20in%20Bitcoin.) 

Africa cryptocurrency exchange

– Nothing much besides the normal crypto disadvantages

What are the challenges to building a pan-African or
continent-wide cryptocurrency exchange?

– Regulatory frameworks

– Possible funding issues 

– “Local” User acquisition

What needs to be done to overcome these?

– Regulatory frameworks/Sandbox – to test and experiment like mentioned in the proposed US crypto bill

– Possible funding issues – connect with national & international VCs and other companies which usually invest in such projects

-“Local” User acquisition – By using local networks, putting out local benefits and programs, and getting more into local charity work.

We will be happy to hear your thoughts

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