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Crytpo continent — an African snapshot

When the bitcoin ecosystem began to take shape, one of its first “killer apps” was supposed to be its ability to provide banking services and low-cost remittances to regions of Africa poorly served by the traditional banking sector. Due to bitcoin’s relatively high transaction fees, however, and the lack of exchange liquidity to convert bitcoin into local fiat currency, personal remittances using bitcoin have proven to be more expensive than existing services like WorldRemit — and using bitcoin for personal payments makes little sense for most Africans.

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