You are living in Africa and looking for a way to invest your money? Have you ever thought of a crypto-currency? Whether you are already familiar with the field or a novice, you have surely heard of Bitcoin before. Should you buy bitcoins in 2022 if you live in Africa? In this article, we will explore 5 reasons to invest in Bitcoin.
Keep in mind that this article does not represents financial advise. Do your own research.
Bitcoin: a “safer” haven in times of crisis in Africa
The unfortunate impact of the coronavirus health crisis will forever mark the year 2022. COVID-19 has created a real wind of monetary panic with the economy at a standstill following the confinment measures. It takes no more to see the specter of a “Bank Run” reappear. A bank in trouble would then be entitled to withdraw funds directly from its clients’ accounts.
Cryptocurrency, for instance, appears in this context as a safe haven of excellence in a similar way as gold. In addition, even if the crypto price decreased with the epidemic, unlike conventional currencies, it recovered very quickly.
Bitcoin, most importantly, works entirely independently. Your money is stored in wallets that you have control over, protected against them. This is why investing in Bitcoin if you live in Africa could be a good idea.
Bitcoin: an anti-inflation currency
Prices tend to rise during a financial crisis (as is currently the case in Venezuela, Turkey or Argentina for example). Furthermore, central banks may decide to operate the money printing overnight. By the law of scarcity, the result is inflation, so you’re going to have to spend more cash to buy the same product. Thus, your money inherently loses its value.
Investing in Bitcoin could be a smart way to protect yourself against inflation. Bitcoin, which is completely independent, is unaffected by decisions taken by governments or central banks. Furthermore, Bitcoin was developed to have a deflationary tendency. Therefore, its production is limited, with only 21 million tokens produced. Therefore, buying bitcoins in 2022 is a promising investment that can make big payments!
Bitcoin is an approachable and transparent ecosystem
Is crypto a bit of a black box for you? Are you living in Africa and wondering which crypto to purchase in 2022? No worries, to take your first steps, Bitcoin could be the ideal crypto for you.
The most widespread and oldest crypto is Bitcoin. Bitcoin is one of the most active communities on the crypto-planet with over 40 million wallets in 2019. The Bitcoin ecosystem, created in 2009, has continued to develop to be more accessible and offer more services (saving plans with compounding interests, loans, margin accounts etc…). You can buy Bitcoins now using traditional methods of payment. In addition, bitcoins allow many daily transactions to be carried out.
Therefore, Bitcoin could be the right gateway in 2022 to calmly start investing in cryptocurrencies. Going through the process of buying Bitcoins in Africa will help you to understand how crypto-currencies work. You will also quickly become acquainted with certain basics, such as blockchain or mining, for instance.
Bitcoin is one of the currencies of the future
The idea of cryptocurrencies emerged after the 2008 financial crisis.
Cryptocurrency meets the needs for independence and freedom demanded by more and more users. By operating on the basis of a public blockchain, a cryptocurrency does without third-party entities. With Bitcoin, you are the one and only owner of your money!
It is still difficult to predict the magnitude of the cryptocurrency wave. However, one idea is more and more popular: crypto can be the currency of the future. Moreover, more and more important economic and industrial players are taking the turn, seduced by the unique possibilities offered by the blockchain. Buying bitcoin in 2020 could be a great way to diversify your assets!
If you want to buy Bitcoins in Africa in 2022, follow this guide.
Many exciting news for Bitcoin in 2022
2022 has been a busy year with the fallout from COVID-19 and the US elections. Such events have inevitably an impact on cryptocurrency prices.
In addition, for the Bitcoin ecosystem, 2022 is an important year. By deciding to purchase bitcoin in 2022, you could profit from this. At your own risk.
Bitcoin has thus experienced the third halving in its history in May 2020. Halving consists of halving the remuneration (the “miners”) of the people in charge of creating Bitcoin. Thus, the compensation has increased from 12.5 to 6.25 BTC this year. The supply of Bitcoins on the market will be reduced as the incentive to “create” tokens is weaker. With ever greater demand, a new episode of rise should begin with the price of Bitcoin.
Buying bitcoin is a great way to diversify your investment portfolio 2022. Investing in Bitcoin allows you to diversify, protect and grow your portfolio.
Beyond that, companies such as Paypal Holdings and Square Inc also increased the attention of Bitcoins. As you can see on the Bitcoin treasury, more and more publicly-traded companies start investing in Bitcoins to protect their liquidity.