Onboarding One Billion People Onto Bitcoin | Bitcoin Magazine \ stacker news ~bitcoin

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Onboarding One Billion People Onto Bitcoin | Bitcoin Magazine bitcoinmagazine.com/culture/onboarding-one-billion-people-onto-bitcoin

6 sats \ 7 comments \ @KenyaCoin 23 Mar 2022 bitcoin

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0 sats \ 5 replies \ @KenyaCoin OP 23 Mar 2022

The people of Africa are the true leaders in this movement and the rest of the world is getting a front row seat. The continent is slowly breaking down stereotypes driven by false narratives and showing the world the true use cases of Bitcoin.

As of this month [Paxful has] reached over nine million users and are on our way to onboarding 10 million.

After meeting Rachel and other community members who were eager to learn, we built our first education center in the country. This is how mainstream adoption will happen — it’s not about creating millionaires, but providing access to financial freedom to millions.

0 sats \ 3 replies \ @KenyaCoin OP 23 Mar 2022

Not a whole lot of substance to that article, TBH.

To Paxful's credit, they were the first P2P trading exchange to add Lightning network ⚡ deposit / withdraw. The reason Paxful has 9+ million users is because the central banks in most countries on the African continent have restrictions and bans on what involvement banks can have. So there's no BTC/NGN trading on Coinbase, Kraken, BitSTAMP, etc., for example, because there's no banks in Nigeria which those exchanges can use.

So instead, there is trading between individuals, using their personal bank accounts, their personal mobile money accounts, etc.

In the past week, FTX has made a move to expand further on the continent with a partner that claims to have the ability to break through that logjam, ... we'll see.

FTX partners African payment company, AZA Finance to grow Web3 economy in Africa | Nairametrics #14862 https://nairametrics.com/2022/03/16/ftx-partners-african-payment-company-aza-finance-to-grow-web3-economy-in-africa/

10 sats \ 1 reply \ @KenyaCoin OP 23 Mar 2022

There's another article, an interview of Paxful's Ray Yousef, that is a more interesting read:

How Paxful’s Ray Youssef Uses Bitcoin To Encourage ‘Sovereign Entrepreneurs’ | Bitcoin Magazine #16057 https://bitcoinmagazine.com/business/paxful-ray-youssef-creates-entrepreneurs