Bitcoin app and crypto currency education for Africa

A wallet application (app) for buying, selling and storing Bitcoin, is now available. The app is compatible with Android and Apple operating system, or iOS, devices.

Bitcoin is a digital, crypto currency without a central bank or administrator. It can be sent from user to user on the peer-to-peer Bitcoin network, without the use of intermediaries.

A significant growth in digital currency transactions has been detected in Africa in recent years. This growth is seen as most noticeable amongst students and graduates under the age of 25. Paxful, a peer-to-peer Bitcoin marketplace that connects buyers with sellers, identified that its user-base in Africa doubled in 2018, with most customers aged between 18 years and 24 years.

The company has observed that consumers’ use of digital currencies is evolving. In particular, Bitcoin has become more mainstream in everyday lifestyle and business transactions and is not limited only to investment and speculative trading.

Investing in Africa’s Youth

In response to the growing interest in the crypto-economy among the youth, Paxful has extended its global Bitcoin education programme to include universities on the African continent. The initiative aims to promote a better understanding of the entrepreneurial opportunities Bitcoin and peer-to-peer finance presents. The company sees a focus on youth and entrepreneurship to be especially appropriate in Africa, with its high unemployment rate and youthful population.

The company aims to grow entrepreneurship in emerging markets by giving away Bitcoin to those who attend the educational workshops and download the wallet app.

The app works in conjunction with the company’s website and promises secure storage for customers.

Nurturing Youth Entrepreneurship

The #PaxfulCampusTour was launched in South Africa in May, before moving on to Kenya, with further initiatives planned for Nigeria and other African countries. The workshops provide introductory Bitcoin education as well as more advanced case studies and business application examples from around the world. The company reports a positive response to its workshops, with attendance exceeding its expectations.

Taking Advantage of the Block Chain Economy in Africa

The company has backed its asserted commitment to education with its #BuiltWithBitcoin charitable initiative, which includes the building of schools in East Africa and providing scholarships to young women in the Middle East. The company aims to build 100 schools across Africa and expand its scholarship programmes.

The company states that it currently has more than 2-million users globally and that South Africa is one of its top markets. It aims to make the Bitcoin economy widely accessible, especially to the youth and those without access to traditional banking systems. In addition, it aims to partner with customers and stakeholders to expand education about the digital currency market, the potential opportunities presented by peer-to-peer finance and safe transacting methods within the market.