Cryptocurrency is an internet based medium of exchange which uses strong cryptography to secure financial transactions. With fast paced market shifts, these can be sent and received directly between two parties via the usage of private and public keys, at minimum processing fees. Cryptocurrency is not geographically bound because it is internet based and all the transactions stand centralized in a database called block chain.
In this context, cryptocurrency in Africa is emerging as a popular means of digital currency. The major reason for the same being that the African gentry feels quite positive over the influence of the internet in their countries, including in the areas of education, economy and politics.
With a sudden rise in the cryptocurrency users, the Government of Africa has also come into play and has established a regulatory working group to promote purchase of mobile phones which is much needed for operation of cryptocurrency transactions. This has also become possible through Luno cryptocurrency safe wallet and exchange which facilitates bitocin storage and transactions such as buying, selling and paying through bitocin wallet services, and today has around 3 million customers spanning 40 countries.
However, the popularity of cryptocurrency has also led to an increase in bitocin scams and thefts, making Africans in dire need of a source of well informative guide and a trustworthy platform for dealings. This is where the role of safe and trusted wallets/crypto platforms comes into the scene.
The features/merits of these platforms are as under mentioned:
- Gateway of information – They serve the purpose of a gateway platform to make available safe information about crypto currency, convertor, crypto prices, daily updates, blog posts, etc.
- Serves as a medium of education – It helps in forming a base of crypto and digital currency knowledge.
- Direct access to exchange companies – It gives wide information and entry to registered exchange companies which gives nil room for scams, loss of frauds or delayed transactions.
- Provides trusted wallets – Here, crypto currencies can be stored from a variety available to make a prudent choice.
- Centralized validation – It provides third party security, supports Android, IOS, web platforms, has low anonymity with centralized validation and easy to use features.
- Updations on market complexity – It also provides in-depth updates about the dynamic and volatile crypto market, helping the user explore the multilayered and fast paced market.
- Tips on security – It provides useful guidelines on how to secure the crypto transactions.
Cryptocurrency in Africa or elsewhere, if used without right knowledge or correct guidance can lead to financial losses. So, one should first thoroughly understand the market shifts to maximize profits.