Bitcoin is currently being used by merchants in all the four corners of the world. Even the less developed continents, such as Africa, have embraced Bitcoin and other cryptocurrencies. Most merchants have identified Bitcoin as a viable alternative to fiat currencies, which are controlled by their respective governments.
The uniqueness of Cryptocurrencies make them more desirable to merchants and customers alike, due to the fact that they are able to hide their identities and the money involved in their transactions. Investors and merchants in Africa have also not been left behind, they also want to enjoy the exciting features that come with digital currencies.
Africa is probably ranked last among all continents when it comes to matters regarding technology. But this has not stopped them from trying the latest technology — in this case digital currencies. For example you can find BitPesa in countries such as Nigeria, Tanzania and Uganda.
Now moving on to developing issues involving Bitcoin — Africa and mobile money transfers — Bitwala is allowing users to send Bitcoin to any MPESA account for free. This is according to an announcement made through Bitwala’s website. Bitwala is a blockchain service that allows fiat currency transfers from users who pay in cryptocurrencies. MPESA is a mobile phone-based money transfer that is very common in Kenya and Tanzania. With reference to the announcement, this service will remain free forever.
It’s quite simple to use. Users open their account, select “send money”, then click on “mobile transfer”. After that, they select pay out currency of choice and finally enter the details of the recipient and the amount of money they want to send. Bitwala users can send money to MPESA account holders in the following countries — Kenya, Tanzania, Nigeria and Uganda. Jorg von Minckwitz, Bitwala’s CEO, through a statement on its website said they wanted to be a part of the mobile money revolution so they had to step it up by enabling anybody to send money to any MPESA account using Bitcoins.
Bitwala has noted that fast, secure and inexpensive money transfers are still not available to many people, particularly in Africa. This has led to most of the unbanked population having to physically carry their money, which is can be very unsafe. It claims to on a mission to provide everyone with the fastest, safest and most affordable way to send and receive money and, judging from this latest move, it’s hard to argue with that.
East African countries — Kenya, Uganda and Tanzania — offer great tourist attractions, from the Serengeti to Masai Mara National Reserve where you can see the great wilder beast migration. So, if you are a Bitcoin user and you decide to visit one of these countries during your holidays, when you find yourself in a position where you want to send money — don’t panic — Bitwala has you covered.