Africa is the fastest growing market for cryptocurrency and blockchain technology in the world. Every day, cryptocurrency and blockchain-focused startups are revolutionizing the commerce and development of the continent. Countries who are leading in the cryptocurrency market include South Africa, Nigeria, Ghana, and Kenya. Investors from these locations have taken to Bitcoin and Ethereum in particular, as well as driving major growth across new ICOs and in innovative applications of blockchain.
However, cryptocurrency is simply a technology, and the savvy investor needs to understand the many different ways of engaging with it to maximize their chance of success. Membership organizations –whether based on subscriptions, or as organic meetings and self-organized groups – have emerged as one of Africa’s most important tools for providing leadership and education in the cryptocurrency sphere, and to bring the enthusiastic African population up to speed with the rapidly expanding cryptocurrency landscape.
BitHub.Africa is a Nairobi-based startup founded in 2015 by John Karanja, a Kenyan blockchain entrepreneur. The organization has grown since it launched operations in 2016 to become the leading commercial blockchain and cryptocurrency operator in Africa. The primary focus of BitHub.Africa is to drive the adoption of blockchain technology in Africa, by promoting its benefits. The organization recently released a report titled ‘Blockchain Opportunity Report’, which gives an analysis of 16 blockchain and cryptocurrency platforms across the continent. Areas of interest for the application of blockchain technology include finance, business, and technology.
Bitcoin South Africa
Bitcoin South Africa is a community organization that started in April 2013 to help Bitcoin enthusiasts in the country to understand cryptocurrency in general, and Bitcoin specifically. The team has a website that carries news on topics including trading and mining, and it dedicates time and resources to assist its members who are seeking information about Bitcoin, or cryptocurrency in general. Bitcoin South Africa is an open community. It also has an active social media presence encouraging the public to join the network.
Blockchain Nigeria User Group
Blockchain Nigeria User Group (BNUG) launched in 2016. Since that time, BNUG has become influential for blockchain and cryptocurrency issues in a country known for entrepreneurial culture. The not-for-profit group champions the use of blockchain technology in both the education and development sectors. BNUG members get access to education services, networking events, and benchmarking services and knowledge, among other programs.
Bitcoin Cape Town
Bitcoin Cape Town is a public meet up that started in April 2013. This makes it one of Africa’s longest-standing repositories of knowledge on Bitcoin. With more than 700 members, it’s the largest Bitcoin meetup group in South Africa. Bitcoin Cape Town meet up enables members to meet other people who are experienced in cryptocurrency, to learn and share investment strategies and discuss issues around success in Bitcoin investment.
The blockchain and cryptocurrency ecosystem in Africa is on a rapid rise, with public enthusiasm and engagement at all-time highs. The real benefit to Africa may be the rise not only of cryptocurrency trading but the ecosystem of membership organizations in the cryptocurrency arena, taking blockchain technology from being a niche platform for complex investments to being a thriving part of Africa’s economy.