Spinomenal May Madness at bitStarz

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In love with Spinomenal’s fantastic titles and you’re already a member of bitStarz? The popular Bitcoin casino has just announced a 3-part Spinomenal May Madness tournament based on the studio’s games. Most casino can only handle one tournament at a time, but Spinomenal has went with three this time that will last throughout May.

The first one is already in, but you still have time to take part in it. Each tournament’s scores are based on symbol collections or win multipliers. As long as you’re top of the table, you will win the prize pool for that particular phase.

With games such as Aztec Spell and Book of Demi Gods II in the mix, this is a tournament surely worth joining.

A €60,000 Prize Pool

The total prize pool for all three tournaments is €60,000, each one worth €20K. As mentioned, May Madness will last throughout this May and is available on selected Spinomenal titles.

Week 1 – 11.5 – 17.05.2021

  • Win multiplier tournament

Games available:

  • Book of Demi Gods II
  • Story of Medusa
  • Aztec Spell

Week 2 – 18.5 – 24.5.2021

  • Scores based on bonus symbol collections

Games available

  • Magical Amazon
  • Queen of Fire
  • Egyptian Rebirth

Week 3 – 25.5 – 1.6.2021

  • Win multiplier tournament

Games available

  • Book of Rebirth
  • 4 Horsemen II
  • Origins of Lilith

The tournament is open to all bitStarz player. To take part in it, you’ll need to be logged in and opt-in to the tourney each week. There’s a minimum qualifying bet of €0.5. If such a bet is not available in any of the games, the next minimum bet is rounded up.

All amounts are displayed in the currency you play with. Crypto prizes are converted to EUR and will be displayed and issued in that currency. If you win any prize, you can expect it within 72 hours after the tournament week ends. The great news is that all cash prizes come with no wagering requirements, so you’re free to use that money any way you want to or cash it out.

In case of a tie with two players having the same point count, the one who topped the charts first will get the main reward.

A Funomenal Experience

Spinomenal may not be the biggest studio in the industry, but it has a cult following. That’s not a surprise considering the fun games it offers. biStarz’s May Madness tournament is the perfect way to try the studio’s slot games if you haven’t before.

The studio doesn’t always stick to the basics. It loves to mix things up and give players a wide range of slot games. As you can see from the tournament’s games, the themes span between ancient Egypt, Aztecs, and mythological creatures. If we had to recommend a slot, Origins of Lilith and Story of Medusa are great slots to start with.

Spinomenal’s games are pretty fun to play and quite rewards. They have several special features that can deliver massive wins. If you’re looking for some fun and an opportunity to win big, bitStarz’s May Madness tournament is the way to go.

May 14, 2021: • No Comments

The Crypto COVID Relief for India Pours In

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In the wake of India’s catastrophic second wave of COVID infections, Polygon co-founder Sandeep Nailwal set up a relief fund to help the country deal with the pandemic. He invited his tech peeps to donate to the relief fund, and some big names have accepted the initiative. Among them are Ethereum co-founder Vitalik Buterin who donated even more crypto for the second time.

The fund has so far collected donations worth over $6 million in 10 different cryptocurrencies. The funniest thing about it is that India hasn’t regulated cryptos yet. However, the fund creator has a solution for that that will give Indian hospitals massive donations that should help the country deal with the massive COVID wave.

Help Pouring in from All Corners

For nearly two months, India has been fighting a deadly new wave of coronavirus infections that has decimated the country. The Indian PM has publicly asked for help, and luckily, it has been coming from all directions. The government of India still hasn’t regulated cryptocurrency, yet Polygon co-founder Sandeep Nailwal set up a crypto relief fund which has been pouring in so far.

Among those who donated besides Buterin are cricketeer Brett Lee with a full Bitcoin. Entrepreneur Balaji Srinivasan donated $50,000 in Ethereum and pledged to double that soon. Hubspot CEO matched his donation as well. The relief fund truly took off when Nailwal put up a call of arms to his Twitter friends after setting up the website cryptorelief.in. In just a few weeks, the fund got around $6 million in donations.

According to Nailwal, the fund was set up to help India while fully complying with its laws. In the beginning, he thought about transferring the funds through the three biggest crypto exchanges. However, he quickly realized that might put them into trouble, so he came up with another way of donating the funds to India.

He created a special entity in the UAE where the collected funds will be transferred to publicly available e-wallets. Nailwal also stuck a deal with FV Bank in the USA that will carry out the conversion to fiat currency. The fund transfer will also go through this bank so that the money will be donated where needed.

Over $1 Million Already Disbursed

The crypto relief fund has already disbursed over $1 million via startups to support the medical oxygen demand in India. Nailwal has also partnered with the two biggest healthcare supply platforms in India to work faster and more efficiently.

A group of crypto volunteers helped bring over 3,000 oxygen cylinders via an Indian Navy Ship from Kuwait, which shows that people are willing to help Nailwal complete his goal. Digital artists have also been donating crypto coins which is almost unheard of in a country where cryptos are illegal.

Now’s the time for Indian politicians to take a look at all the advantages cryptos bring and how they could help the community thrive. Nailwal’s goal is to collect more in donations and at this pace, we’re sure that’ll happen soon.

May 12, 2021: • No Comments

Win A Share of 1 BTC in Bitcasino.io’s Live Casino Masters Series

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If you’re a live casino fan, you’ll love what Bitcasino has in store. The top BTC casino is hosting a brilliant tournament called Live Casino Masters Series with a prize pool worth 1 BTC. Players can take part in qualifiers all throughout May to earn a spot on the list and win a fair share of the reward. All you need to do is opt-in to a qualifier, make a qualifying bet of at least 0.1 mBTC, and you’re good to go.

You can also earn double the points in OneTouch Bombay Club when you play Live Baccarat, Live Roulette, or Live Blackjack tournaments. You get an automatic entry into the Grand Finale with a top 25 position where a prize pool worth 500 mBTC awaits you.

The Home of Legendary Live Casino Tournaments

Bitcasino.io calls itself the home of legendary live casino tournaments. That’s not far from the truth. The casino has organized some pretty great tourneys so far, and the latest one may end up the best. The Live Casino Masters Series wants to provide a lush experience not unlike in Vegas, giving you a chance to win a great reward while having fun with the casino’s top live dealer tables.

The tournament is open to all of Bitcasino’s players. It works with real money wagers only. Players should opt-in to a tournament in order to qualify for it. To participate in the finals, you’ll need to finish in the top 25 players in any of the qualifying tournaments.

Here are the qualifier dates for each:

  1. Live Baccarat – May 3 – May 7
  2. Live Blackjack – May 10 – May 14
  3. Live Game Shows – May 17 – May 21
  4. Live Roulette – May 24 – May 28

The Grand Finale will take place between May 31 and June 4. Aside from placing yourself in the top 25 to qualify for it, players that play the OneTouch Bombay Club tables can generate double points in the first 3 qualifiers.

All rewards will be paid in mBTC, with all prizes from this promotion wager-free.

Take the Live Casino Crown

You will climb the table in each qualifier by completing certain objectives. For example, the first two tournaments are bet count tourneys. The win multiplier matters the most for the third, with the bet count important for the fourth. In the Grand Finale, players will earn points based on their Bet sum.

The rewards for each of the qualifiers vary. The first one has a prize pool of 200 mBTC, the next 3 have a prize pool of 100 mBTC, while the Grand Finale has the largest reward of 500 mBTC. If you’re crowned the next Bitcasino.io live casino king, the biggest share of that pool is yours.

Since the qualifying live casino games are powered by Evolution Gaming, you’ll have plenty of fun while you’re playing for 1 BTC. Bitcasino has always been home to legendary tournaments, and the Live Casino Masters Series seems to be the best.

May 7, 2021: • No Comments

Ether Going Mainstream – the Next Big Crypto Coin?

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Throughout the years, we’ve seen numerous cryptocurrencies attempting to break into the mainstream. The crypto industry was largely unmoved by these attempts, and as a result, Bitcoin remained king. No one came even close to the world’s largest cryptocurrency by market volume which started begin accepted in a variety of ways. From Bitcoin gambling to online merchants, Bitcoin’s march left no space for other cryptos.

Until last week. The second biggest crypto coin, Ether, just began its frequently-talked ascent. Thanks to the non-fungible token craze and increased adoption, Ethereum broke over $3,000 for the first time and is on the verge of reaching new heights. Its rise has made it go mainstream in a time where Bitcoin’s price is once again on the downside, at least for the time being.

An Explosion of NFTs

There’s no question that the major reason why Ethereum is surging are NFTs. People have started looking at Ethereum as a major Bitcoin alternative and a real utility. There are two more technical developments that are fueling Ether’s rise. The first one is the public sale of Coinbase, the giant crypto brokerage firm, and the other one is the fact that Ether just went through a hard fork.

The latter is basically an upgrade of the Ethereum network that allows faster transaction speeds. Aside from the technical reasons, the market is currently going for a shift, with new investors seeking alternatives to Bitcoin. Everyone’s trying to diversify their holdings, with Ethereum being the choice for most new investors.

Around the world, cryptocurrencies are becoming huge. S&P Dow Jones Indices has just validated cryptocurrencies, including an Ethereum index besides the Bitcoin and cryptocurrency megacap indexes. Digital and traditional currency markets are not mutually exclusive anymore. Experts believe that the world is facing inflation in the wake of the COVID-19 pandemic as the global economy heats up. This is another big reason fueling Ether’s rise.

Many believe that Ethereum’s price will rise in the coming weeks and months. Investors know that this has been years into the making and are finally reaping their reward.

DeFi Juggernaut

Ethereum is part of the DeFi revolution. Decentralized finance offers financial products that don’t rely on central banks. As such, it’s the perfect antidote to potential inflation in the future. It allows people to fight the uncertainty caused by central banks printing money and supply shocks too.

Of course, this doesn’t mean you should just put all the money you can into it. Investors should be very careful with ETH. Its rise has been pretty sharp, drawing comparisons to Bitcoin’s sudden rise and fall in 2018. Some experts believe that Ether is a much stabler coin, so the price will fluctuate, but not as much as Bitcoin’s.

It remains to be seen if the latest price hike will establish Ether as a Bitcoin rival or it’s just been a fluke. The coming period will clear a lot of the confusion, so if you’re planning on investing, now’s the time to watch the market.

 

May 5, 2021: • No Comments

Itty Bitty Quiz Rewards at mBit; Win a Tesla 3 at Bitcasino.io

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Spring is finally here and we can’t be more excited. Bitcoin casinos are excited too what with the new arrivals, tournaments, and offers. If you’re a registered member of mBit or Bitcasino, you can win outstanding prizes this Spring.

mBit casino’s Bitty Quiz is open for all players and runs every 72 hours. All registered players can participate and answer the question that will reveal superb rewards. The quiz runs on deposits, so the more you fund your account, the higher the possible rewards.

Elsewhere, Bitcasino.io has joined in on the electric car party with its Tesla Model 3 giveaway. That’s right – you have until July 11 to hit the highest multiplier on the Live Crash games and get your hands on the world’s best electric car.

It’s Bitty Quiz Time!

Want to test your knowledge and put it to good use? You can win cash rewards if you’re a human encyclopedia only at mBit casino. The Bitty Quiz runs every 72 hours and offers up to 5,000 free spins every round for registered mBit casino members.

The Bitty Quiz is a fast-paced game that you’ll surely enjoy. Every participant gets 15 seconds to answer questions. If you get all 10 correctly, you will win the round and get a fair share of the 5,000 free spins. You also get bragging rights which is something rarely any casino will offer.

In order to participate, you will need to have made at least 1 deposit before the round. If you make no deposit between Bitty Quiz rounds, you can play for fun only.

  • Deposits between 0.5 mBTC will bring you up to 100 free spins
  • 2 mBTC deposits can deliver up to 500 free spins
  • 5 mBTC deposits can deliver up to 1,000 free spins
  • Deposits over 12 mBTC will bring you up to 5,000 free spins

Besides making a deposit, you will also need to opt-in for the quiz. It’s a very fun way to get your hands on loads of free spins that will surely come in handy in mBit casino.

Win a Tesla 3 at Bitcasino

We know that Teslas have been given away before, but no casino gave 3 at the same time. Bitcasino.io will be the first one to do it, offering three Tesla Model 3s Performance vehicles, each one worth nearly €60,000. The cars will be delivered to the winners of the Live Crash challenges where you should score the highest win multiplier in the three tournaments.

The first one takes place between May 10 and May 16 with qualifiers before it. The other two tournament finals will be held between June 7 and June 13, and July 5-11. A Tesla Model 3 will be awarded for each one, along with a prize pool of 75 mBTC for the top qualifiers.

To qualify, you will need to reach the top 20 table in the qualifiers. Regardless of your spot, you will enter the final tournament for the next phase and play for a glorious Tesla Model 3.

April 30, 2021: • No Comments

Bitcoin Now Endorsed by Tilman Fertitta

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Public support for Bitcoin has been growing wild in the past year or so. That’s in addition to being widely accepted by new and old industries at the same time. Bitcoin online casinos have emerged as a very popular industry in the West and Asia, and major companies such as Tesla have been quite vocal in their support for Bitcoin.

The public support grew a few days ago when Houston Rockets CEO and owner of Landry Inc. Tilman Fertitta announced that his restaurants will start accepting BTC as payment. He noted the simple transactions as one of the reasons for adding it to the list of payments, along with the fact that it’s here to stay.

A Major Boost for BTC

Tilman Fertitta is one of the biggest businessmen in the USA. His wealth is projected in the area of $6.4 billion. He owns the Landry Inc. restaurant brands and the Golden Nugget network of casinos, while also being the CEO of NBA team Houston Rockets. It’s fair to say that the 63-year old knows a thing about business or two, so him choosing to support Bitcoin is definitely a huge deal.

In the beginning, Bitcoin payments will be accepted at Mastro’s. That’s one of Landry’s upscale concepts with over a dozen restaurants in the USA. They will start accepting Bitcoin payments as early as this week. Morton’s The Steakhouse and Bubba Gump Shrimp Co., two other Landry Inc. brands, will follow later.

Fertitta noted how easy transactions are completed via Bitcoin. He also said that the transactions are here to stay. “Using it is inevitable and this was going to happen one day,” said the Rockets’ CEO, who clearly understands the concept of Bitcoin.

Fertitta’s comments come just weeks after billionaire real estate developer Rick Caruso stated his plans of accepting Bitcoin as rent payment in his residential and retail properties. Earlier this year, Tesla added Bitcoin as payment option for its popular electric cars. Bitcoin is receiving support like never before, and it’s fueling its sky-scraping price.

Increased Institutional Adoption

While we’re still far off the point where governments widely accept it, Bitcoin has seen huge public support in recent months. Companies such as Tesla have bought it. Goldman Sachs and Morgan Stanley will soon offer wealth management clients’ exposure to Bitcoin. All of this is reflected in Bitcoin’s huge price rallies, driving it past the $50,000 mark.

The coin’s volatility, though, hasn’t changed a bit. Price swings still represent a major obstacle for investors. While it’s currently in the middle of a bull run, the price can still fall 20% or more in a day or two, which leads many to believe that it’s not a currency, but something entirely else.

At the same time, some of the big businesses in the USA agree on one thing – it’s here to stay. With public support from Fertitta and Musk and many other billionaires, Bitcoin is bigger and better than ever. It’s on its way to become a truly tangible asset that may end up being more valuable than oil or gold.

April 28, 2021: • No Comments

Cardano Arrives at Bitcasino; Slots Blitz Tournament at Betchain

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The leading Bitcoin casino online, Bitcasino.io, is constantly looking for ways to improve its platform. It’s in the business of adding new virtual coins to the delight of its fans. The latest such coin to arrive on the platform is Cardano (ADA), and to celebrate that, the casino is giving 25 ADA when you use the newly accepted coin to play games.

Elsewhere, slot fans will enjoy a great slots tournament over at Betchain. The popular crypto casino is high on tournaments, hosting them on a regular basis. If you’re a slot fan looking to join a great and rewarding tournament, you should take part in the Slots Blitz tourney over at Betchain.

Calling All Crypto-Fans!

So far, Bitcasino.io has been accepting Ethereum, Bitcoin, Litecoin, TRON, Ripple, and Tether as crypto deposits and withdrawals. The gaming platform has just expanded that collection with Cardano (ADA) to the delight of crypto fans worldwide.

ADA is a new virtual coin that may be shooting for the stars. Its price is currently on the upside, but you don’t have to invest a lot in it – Bitcasino’s giving ADA for free. To be more specific, anyone who spends north of 500 ADA in the casino will get an instant 25 in return. You can use those coins to play your favorite games including the best slots and casino games on the platform.

The promo runs until April 27, so make sure not to miss it. It’s a great way to load up on the exciting new coin for which experts believe can rise to the sky. To see the offer and its terms, switch your currency at Bitcasino from your profile to ADA. The 25 ADA reward doesn’t carry any wagering requirements, so you’re free to use it any way you like.

Slots Blitz Tournament at Betchain

Another popular Bitcoin casino, Betchain, is hosting a great tournament with €500 up for grabs. The Slots Blitz tournament will run until the end of the month, so you have a full week left to participate and win a portion of the prize pool.

The tournament is available to all of Betchain’s players. In order to win the top reward which is €200, you will need to top the leaderboard. This is a monthly promo which splits the prize pool between the top 5 players. The tournament is for real money bets only and you can play with any currency you want. The results are displayed in EUR, but don’t let that discourage you from using another currency.

The first-placed player wins €200, with the two others on the podium getting €100 each. The fourth and fifth-placed players will win €50 respectively. That’s a pretty solid consolation prize and a great way to test more games in the casino. Betchain’s library is loaded with excellent Bitcoin slots, so we’re sure that you’ll put the extra cash to good use.

April 23, 2021: • No Comments

Longtime Investor Bill Miller Says Bitcoin is Not a Bubble

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Bitcoin’s ascend in recent years has sparked a lot of debate whether it’s 2017 all over again. That was the year of the famous bubble burst, when Bitcoin went up to skyscraping heights before the bubble burst. However, since then, the world’s top cryptocurrency has matured. It has made a stronger-than-ever comeback and found its place in numerous industries such as Bitcoin gaming where it’s being used by thousands of fans.

While the debate for another bubble burst is raging, some experts are adamant that 2017 won’t repeat. Longtime investor Bill Miller recently stated that not only Bitcoin is not a bubble, it has begun it’s rise into mainstream. Miller believes that the cryptocurrency is here to stay and doesn’t expect a major plunge.

More Room to Grow

In an interview he gave to The Exchange, Miller says that Bitcoin has room to grow. The founder and major investor in Miller Value Partners expects the cryptocurrency to climb to new heights. While Bitcoin’s price has just taken a significant dip, it has already railed in the area of 90% so far in 2021.

Such sky-high price points have led many to believe that it’ll be 2017 all over again. As you may remember, that was a breakout year where Bitcoin grew up to around $20,000 before the price feel for over 90%. It took Bitcoin a good 3-4 years to reach those heights and overcome them. This time, however, its situation is much more stable.

Per Miller, Bitcoin’s supply is growing at 2% per year. Demand is growing faster too and fueling new price heights. Miller expects this to continue, which means that the price will rise too soon. He is known to be bullish on Bitcoin and first started buying the cryptocurrency in 2014 or 2015. At that time, the price was around $350 per coin.

At the same time, Miller is very aware that the highly volatile price swings will continue. He’s aware that the 2017 run was a bubble that burst, but things are now different. According to him, Bitcoin is mainstreaming right now, and thanks to the backing of technological giants such as Tesla, things will only get better from here.

Bitcoin is Digital Gold

Another fun thing from Miller’s interview – he apparently calls Bitcoin “digital gold”. He’s not far off the mark. Bitcoin has been referred to as gold for a while now. Many experts are putting it on the same page as other stocks including gold and oil. It has the potential to grow into something much better and if you ask Miller, it’s better than gold.

At the moment, gold is an asset with a market cap of around $10 trillion. Bitcoin is at around $1 trillion at the moment. Unlike gold, it can be transported easily and sent anywhere in the world. As long as you’ve got a smartphone, it’s a much better asset to have.

Thanks to investors and supporters such as Miller, we’re sure that Bitcoin’s legendary run and story will continue.

April 21, 2021: • No Comments

Another Tesla for Keeps at bitStarz; Mascot Spring Adventure at FortuneJack

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Spring is always an important time for Bitcoin and crypto casinos. It celebrates the rebirth of nature after the harsh winter weather and casinos celebrate it by offering thrilling promotions. This spring you can enjoy in a bunch of great deals, but no one comes close to bitStarz’s Tesla promotion.

The popular Bitcoin casino has already handed the keys for Teslas to its players several times in the past. If you missed on the other occasions, you have a chance to get it now. Simply wager €100 (cryptocurrency equivalent) to get one raffle ticket and cross your fingers for the 24 May draw.

Elsewhere, FortuneJack has a short but sweet €4,000 tourney called Mascot Spring where you can easily win €1,500 if you top the leaderboard.

A Brand-New Tesla 3 for Keeps

The Tesla giveaway at bitStarz is available to all players. It will run from April 7 to May 24. As the absolute best electric car on the market, everyone would love to get their hands on a Tesla model 3. No need to buy it, though. Instead, invest a bit of money in your bitStarz account and if you’re lucky, the raffle will select you as a winner.

From April 7 to May 24, you will need to wager at least €100 or cryptocurrency equivalent to get one raffle ticket. The car is given away as part of the Spring celebrations, but also as part of bitStarz’s 7th birthday. One winner will be chosen on the 24 May draw, having the option to get the keys or a cash alternative. But, seriously, who would pick the latter unless you already have the same Tesla?

In order to play for the Tesla, you must have an active bitStarz account. You must also have made at least one deposit in the casino to qualify for the promotion. You get one raffle ticket for every €100 you wager on any game, with no cap on the tickets. Continue playing in the casino and who knows? Maybe you’ll be the lucky winner of a brand-new Tesla model 3.

Mascot Spring at FortuneJack

The Mascot Spring FortuneJack promotion runs from April 15 to April 20, with a total prize pool of €4,000. There will be prizes for the top 10 players on the leaderboard. To participate, you must play Mascot’s following slot hits:

  • The Myth
  • Lions Pride
  • Queen of Spades
  • Prince of Persia: The Gems of Persepolis
  • Re Kill
  • 3 Corsairs
  • Merry Scary Christmas
  • Hell’ Sing
  • Riot
  • The Tomb: Dragon Emperor’s Treasure

Every €1 won in any of these games counts as 1 point. The first 10 players with the most points on the leaderboard on April 20 will share the prize pool. There’s €1,500 for the winner, €1,000 for the second-placed player, and €450 for the third. Not a bad way to celebrate spring at all.

The fact that Mascot’s games are truly exciting makes this promotion a must for all players in the Bitcoin casino.

April 16, 2021: • No Comments

Bitcoin and Crypto Adoption in Africa on the Rise

Facebooktwitterredditpinterestlinkedinmailby feather In the past couple of years, Africa is going through a financial revolution. The black continent financial sentiment has changed from bank-enabled transactions to virtual currency adoption. Bitcoin and crypto adoption rates are through the roof, especially among the youth in Nigeria.

Bitcoin casinos have been on a roll in Nigeria and throughout Africa too. Young people on the black continent love to play games and obviously love crypto, so crypto casinos were a match made of heaven.

Of course, it’s not just casinos that have led to the widespread and sudden crypto adoption in Africa. Growth in remittances, currency devaluations, and widespread Internet access have all played a role too. And, while there are challenges to overcome, it seems that the trend isn’t stopping any time soon.

What Fuels Africa’s Crypto Growth?

Remittance growth is one of the major reasons why young Africans are adopting crypto. Reports from the World Bank say that it’s much costlier to send money in Sub-Saharan African than any other region. The global average rate is 6.8% per transaction, but for Africa, it’s 8.9%. In 2019 alone, remittances to sub-Saharan Africa were close to $48 billion, with Nigeria receiving almost half of it at $23.8 billion.

According to studies, remittances alleviate poverty in low to middle-income countries. It also improves nutritional outcome and has been linked to higher spending on education. A sharp decline in remittance affects families’ ability to spend money in these areas which results in poorer quality of life.

That doesn’t happen with Bitcoin and crypto, so it’s quite obvious why Africans love it. Nigerians prefer to use cryptocurrencies to send money abroad. Sending remittances through Bitcoin platforms costs almost nothing compared to what banks take. Currency conversion fees and bank fees are also avoided, so it’s no wonder that crypto adoption in Africa is on the rise.

Inflation and currency devaluation have also played their parts in the increasing Bitcoin and crypto adoption. Nigeria, Ghana, Zambia, and South Sudan have been struck with skyscraping inflation rates recently. Not surprisingly, the biggest crypto economies are in these countries, with their youth using Bitcoin and cryptos in general as a much safer way to make transactions.

Still Challenges to Face

The crypto adoption trend in Africa might not isn’t set to stop anytime soon. However, there are still obstacles it needs to pass before cryptos can also be accepted by African governments.

That right there is the biggest challenge. African banks have been adamant that Bitcoin and cryptos are not legal tender – that much has been clarified several times. There’s literally no safety valve for African players if they lose their crypto account. Plus, most conversions are done by informal brokers which can be shady.

Financial scams and the bubble theory are two other major challenges. The youth in Africa is interested in crypto because of sky-high potential returns, but this also makes them fall into the trap of many scams.

Plus, the volatility of Bitcoin is another big problem, adding to the list of obstacles in African for widespread crypto adoption.

April 14, 2021: • No Comments