The use of Bitcoin and other cryptocurrencies is growing rapidly. Each day more people from the four corners of the world are becoming familiar with digital currencies. Advantages of using cryptocurrencies include — anonymous transactions, buying and selling digital assets and smart contracts. In 2009, when the first cryptocurrency was announced, no one thought that by 2017 this industry would have grown to such heights. More so, in Africa where almost all countries are third world. Being a developing continent, citizens from most countries in Africa don’t have access to information and technology systems. So it’s quite impressive how African countries have embraced digital currencies in such a short time period.
You can find Bitpesa, a Bitcoin company, in Nigeria, Uganda and Tanzania. It was also available in Kenya until late last year, when all bank accounts were Closed. However, in Morocco, Bitcoin has been spreading rapidly. Aziz Elmi, a professional crypto trader, estimates that Bitcoin — worth more than $200,000 — is traded daily in his native Morocco.
Aziz is one of the leading members of the Crypto community in his country, and the main developer of AtlasCoin. Morocco’s unwillingness to open more to the rest of the world may be the reason why many Bitcoin users didn’t know that Bitcoin had a huge following there. Moroccans use Bitcoins in cross-border trade, Forex trading and revshare. In recent times we have seen a rise in companies offering cloud mining services.
Moroccans have taken full advantage of these companies and have invested a considerable amount of money in them. Unfortunately, all these Bitcoins, worth thousands of dollars, are still traded underground. Moroccans have resorted to using social media platforms such as Facebook, Twitter and WhatsApp to do their trading.
Source: https://easterndaily.com/bitcoin-secretly-conquers-morocco/
