online resources

African Migrants Are Turning to Cryptocurrency Platforms for ‘Low-Fee Remittances’

As central banks on the African continent fight to keep cryptocurrencies from going mainstream, many more migrant workers are increasingly turning to money-sending platforms that use cryptocurrencies when moving funds across borders. More Than Just an Investment Thus in addition to becoming a “hot investment for hedge funders and corporate moguls,” crypto-assets like bitcoin are now seen as “a cost-effective way to transfer money throughout the developing world.” Also adding to the growing popularity of cryptocurrencies, are lockdown measures imposed in many countries starting in March 2020. In a bid to halt the spread of Covid-19, governments around the world…

Continue Reading African Migrants Are Turning to Cryptocurrency Platforms for ‘Low-Fee Remittances’

Nigerian Crypto Startup Yellow Card Raises $1.5 Million For Expansion in Africa

Yellow Card has raised $1.5 million in a seed round. The Nigerian crypto startup said it will use the money to expand its operations in Africa while making it easier for people on the continent to buy and sell digital assets. Investors in the new round include Polychain, venture capital firm Andreessen Horowitz, and Celo, through the Celo Ecosystem Fund. In a statement, Yellow Card said it intends to “become the dominant exchange across the continent.” The company recently expanded into South Africa and Botswana and added 30,000 new vendors. “Along with the fundraise, Yellow Card is announcing that it…

Continue Reading Nigerian Crypto Startup Yellow Card Raises $1.5 Million For Expansion in Africa

High Fees Make BTC Less Appealing for Remittances in Africa: ‘Pray Blocks Happen Quickly’

Bitcoin trading volumes are on the rise on the African continent despite the ongoing concerns about the high network fees. Data shows peer to peer bitcoin trading platforms recorded spiked growth in volumes starting in April. This was the same time as many countries implemented lockdown measures. Anecdotal evidence seems to suggest that Covid-19 related regulations are the reason for the volume growth. This “evidence” is observed in Nigeria, already one of the biggest cryptocurrency markets in the world. Some observers from the country say the struggling economy, as well as the volatile currency, are helping to build new momentum…

Continue Reading High Fees Make BTC Less Appealing for Remittances in Africa: ‘Pray Blocks Happen Quickly’

End of content

No more pages to load