Guellord MbusaAs you may already know, more and more people in Africa are interested in bitcoin and cryptocurrencies in general.
And, that's a very good thing (for several reasons). We had seen that the startup ecosystem in Africa and fintech tends to consolidate on the continent. More and more cryptocurrencies are appearing on the African continent. Africa has a lot to gain in the field of blockchain, and some say that bitcoin or others cryptocurrencies could even dethrone the CFA Franc (in the UMOA zone).
Indeed, bitcoin has become popular among Africans. As for all users around the world, African cryptocurrencies have their share of advantages. But, above all, certain blockchain projects also tend to solve some of the most difficult challenges for Africa.
Moreover, let us remember that Africa only has around forty currencies for fifty-four countries. Complementary currencies are therefore not at all an excess! And, dare I say, African cryptocurrencies are eagerly awaited! Likewise, there are more and more of crypto-related businesses operating on the continent.
It is with all this at stake that we decided to write this article to list the most popular African cryptocurrencies.
Sango crypto from the Central African Republic
It is the latest African cryptocurrency to appear, however, it deserves first place. There crypto sango or sangocoin is actually the first CBDC in the world. Even if the Salvador was the first country to accept the #bitcoin as legal tender, it was the Central African Republic which created the first state cryptocurrency. It then became Africa's crypto par excellence in terms of symbol of economic renewal.
In fact, sangocoin is part of a more global ambitious project which includes several digital aspects of the country's economy. It is further about using blockchain technology in different fields. The country could then find a solution to support its for sustainable.
Investors can buy Sango crypto on the official website. We are – at the time of writing – in the pre-sale period of the Sango crypto.
—-> To find out more, read our article to find out how to buy sangocoin.
Kobocoin : crypto to avoid Western Union fees…
Kobocoin is one of the best-known African cryptocurrencies. The issuing company based in Nigeria has international ambitions, as you will quickly see.
He is the Nigerian entrepreneur and developer Felix Onyemechi Ugoji who is at the origin of this project. Kobocoin wants to solve the problem of remittances in Africa. The African diaspora actually loses up to 20% of its transfers in intermediary fees.
We can think, for example, of Western Union which takes commissions that are much too high. This is a definite loss of income for Africa. THE Kokocoin would be an excellent start to avoid excessively high commission costs.
Even more than the fees, it is also for the speed that the African cryptocurrency could make the difference. Yes, money transfers would also be instantaneous and would be done directly on computer or mobile.
The Kobocoin project has existed since 2015 and yet, few Africans were still using it. It was not until last year, in 2018, that Golix, a Zimbabwean crypto exchange, allowed it on its platform. There, it was the big takeoff of this crypto Africa.
So, today, you can buy KOBO via bitcoin and other cryptos on the Crypto.com app. We also see on CoinMarketCap that the value today is €0,010333.
Crypto Safcoin in South Africa
SAFCOIN is a company in South Africa that launched the SAFCOIN token in 2017. Personally, it is one of my favorite among all African cryptocurrencies. Although it is primarily focused solely on South Africa at first, it remains deeply pan-African and even international.
The founders, megalomaniacs or very self-confident, say that in a few years, it will be one of the most solid African cryptocurrencies. It could even compete with bitcoin! And, maybe after all!
SAFCOIN sold over 500 tokens during its ICO (Initial Coin Offering). This Africa crypto Safcoin was sold for 000ZAR. Today, the crypto is worth 70 ZAR. The particularity of this ICO is that the tokens were available exclusively in South Africa.
Neil Fereira, co-founder of SAFCOIN, declared that it was his choice to make SAFCOIN, a cryptocurrency exclusively for South Africans. One could only purchase the cryptocurrency in the ICO phase if one had a South African bank account. Besides, you had to use i-Pay as a payment gateway. The founder says South Africans have lost many opportunities to invest in cryptocurrencies over the years. This is why he wants that with SAFCOIN, it will be South Africans first who can benefit from it. At least in the start-up phase.
That’s what we like about this project actually. This desire to make it a very exclusive cryptocurrency. Because in fact, it is the Africans who have been the worst off.
SAFCOIN plans to make available 5 million SAFCOINS which will be available by October 31, 2018, by which time all 500 ICO tokens are expected to have been purchased.
For the moment, unless you are South African, you cannot get them. At Zone Bitcoin, we still opened an account but we are waiting for validation….Perhaps it will be open to non-South Africans soon?
THEAfrocoin, the promising cryptocurrency
The African cryptocurrency AFRO is a new creation of the Foundation based in Geneva and called AFRO.
The co-founder Thameur Hemdane had already founded a fintech crowdfunding company previously in French-speaking Africa. With this new project, the idea is to develop a crypto dedicated to African economic development. The primary goal of this new African cryptocurrency is to promote money transfers by minimizing transfer fees. This is indeed a major problem in Africa as we have already said above.
The AFRO cryptocurrency is therefore a monetary tool that aims to be apolitical and neutral. The desire is to be available on the continent to facilitate exchanges. It’s also a great way to popularize cryptocurrency.
An amount of 750 billion Afros were issued on June 19, 2018. This is the equivalent of t 600 AFRO per African citizen. When it was created, 1 AFRO was worth 1 CFA Franc.
The company's manifesto is noble and the benefits for Africans could be very interesting indeed.
Because cryptocurrency is new, we jumped at the opportunity. For our part, we have in fact purchased AFROCOIN, on crexxnumx. and we will keep you informed of the progress of this cryptocurrency.
Crypto Digital Shilling from kenya
The Digital Shilling is an African cryptocurrency that was created in 2016 in Kenya. A bit like Kobocoin, the goal is to counter the problems of commission and speed of money transfer. Kelvin Yavwa is the founder.
The advantage with Digital Shilling is that it is a cryptocurrency that you can mine quite easily.
That said, to be honest with you, the Digital Shilling doesn’t have a lot of holders. It’s not “purchasable” on the biggest bitcoin trading platforms… In fact, it can be purchased on three platforms nova, OpenTrade et Yobit. As you can see, these are platforms with little trading volume. As a result, few people trade and own it. It's a shame because he had all the potential. Maybe the founder should have used better marketing methods like airdrops perhaps…?
Crypto Awehcash from Namibia
aweh.cash was created in a country where the government has criticized cryptocurrencies: Namibia. However, Awehcash, the first cryptocurrency was created. It is a cryptocurrency that wants to give Namibians easy and secure access to the world of blockchain.
Namibia's Awehcash is built on the Waves platform, a global public blockchain platform that provides shared infrastructure for new blockchain-based projects. The company has created 21 million (yes, like bitcoin) Awehcash tokens and has distributed around 100,000 as of this writing. They could have sold more but the country's laws do not favor such enthusiasm.
The Bank of Namibia reinforced its critical stance on cryptocurrencies in a public journal in 2018. It stated that “it does not recognize, support or recommend the possession, use and exchange of cryptocurrencies in Namibia.” So it was already difficult to convince Namibians to ignore the warnings of the country’s central bank. Yes, what a shame! But, that will be the subject of a future article to complain that far too many governments fail to see the potential of crypto Africa.
You can nevertheless download a wallet Waves to get your first AwehCash.
Mcoin crypto that works on cell phones
Editorial: This project has stopped working…
The Mcoin cryptocurrency was created by a technology company based in London. The English company intends to create a cryptocurrency for countries with little banking in 2018. Africa is part of their destination.
Its main selling point is that it is the first cryptocurrency that can be transferred without the internet. This digital currency can only be transferred by SMS. It must be said that it's still great, in idea. This also avoids a lot of hacking problems related to online connections. The company will offer both a digital wallet and an SMS wallet that work with a set of shortcodes and do not require an internet connection. It is therefore perfectly ideal for the unbanked population who do not have internet.
Moreover, theICO of the project was a real hit with a rating of 3,7 out of 5. Judge for yourself: https://icobench.com/ico/mcoin
The company aims to reach the unconnected across the African continent and provide them with business and financial services through their mobile phones, with or without internet access.
Although this blockchain project sounds exciting and attempts to solve a real-world problem, it remains to be seen how it will be able to partner with mobile operators in Africa and different regulators in each African country. And also, how he will convince the inhabitants of many African communities to trust his platform.
But, we at ZoneBitcoin were completely blown away by the idea of this simple crypto africa.
Note: Recently we discovered the project Machankura, relatively similar. So this is great news for people living in remote areas.
Dala : the most complete of African cryptocurrencies
Dala is a decentralized financial system designed for emerging markets. It is powered by the DALA token, built on the Ethereum blockchain. Through the Dala protocols (Kopa, Soko and Kazi), consumers have access to borderless, low-cost, efficient and unique financial services enabling them to earn, save, borrow and transact in a new decentralized financial system.
The first major contributor to the open source development of Dala and the first application enabling the use of $DALA for peer-to-peer transactions and transfers is Wala, a free financial services application for emerging markets.
The goal of the Wala team is to meet the needs of the unbanked in Africa. It uses the Dala token to create a platform where people can send money to friends and family in Africa at lower fees than traditional banks and make other transactions such as bills without fees transaction.
The platform has more than 100,000 users today. This announces something very big and massive in Africa.
Dala remains our favorite project for several reasons. For example, with the Kopa protocol, the company can generate credit for small businesses. Thus, businesses in agriculture or the environment can obtain credit for their businesses. And when we know that in Africa business credit is the main problem. So, we know that this project is great.
So for now, here are the best African cryptocurrencies that we can list. There are other more political and controversial cryptocurrency projects like Ambacoin from the unrecognized territory in Cameroon.
👉 I invite you to read the article that explains how blockchain could solve some of the continent's problems.
What we hope is that there will always be others and above all more and more used by the population.
Indeed, African cryptocurrencies can really help the development of the country and all that remains is to convince the governments!
Home The 8 best African cryptocurrencies to know
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