SALVAGING AFRICA - THE CRYPTOCURRENCY AWARENESS CAMPAIGN

The world financial systems are currently undergoing a very rapid and unprecedented revolution since the genesis of Bitcoin in 2009. People with their ears to the ground, those who understand the risks and benefits of participatory learning have not only been happy with their risky decisions, most of them have actually been elevated to the ''never-to-be poor-again'' status.
Yet (and unfortunately though), many people especially in the developing world do not even know what is going on.
If you are among the folks that are yet to be in the know, well, it is not too late. I'm actually packaging this piece together for you. I will try to be as explicit as it is humanly possible to make you visualize this invisible digital world concept in your imaginations and to enable you grab the concept and start running with it.
I'm really dedicating this to fellow Nigerians and Africans in particular, to encourage us to cue into this at this time. However, the information here can help anybody from any part of the world as digital/internet revolution of any kind, including the cryptocurrency concepts are global issues.
So I solemnly request that you read this with unbiased mind and also share the site link with your friends and folks and via the social media for a wider read.

WHAT ARE BITCOINS AND CRYPTOCURRENCIES?
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May I refer you to the the Wikipedia definition which said and I quote:
"A Cryptocurrency is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions and to control the creation of additional units of the currency." Cryptocurrencies are a subset of alternative currencies, or specifically of digital currencies.
Bitcoin became the first decentralized cryptocurrency in 2009 and since, numerous cryptocurrencies have been created . These are frequently called altcoins, as a blend of bitcoin alternative. Bitcoin and its derivatives use decentralized control control as opposed to centralized electronic money/centralized banking systems. The decentralized control is related to the use of bitcoin's blockchain transaction database in the role of a distributed ledger."
You can click here for full details.

I think the above definition and description is as simplified as abc. But may I say in simpler terms that, cryptocurrency means the kind of digital currency for transactions that are programmed and secured with the highest level of security (encryption/decryption krypto >Greek for secure> graphy) in such a way that, by no means can it be abused by creating more of the type, or influencing its purchasing power or robbing the owner of its values through any manipulation, by a government, a third party or any intermediary interference, except by the law of market forces
(decentralization).

ALTCOINS

The number of other Cryptocurrencies preferably called the "Altcoins" are increasingly emerging everyday and people are tracking them and trading on them. Below is a list of a few coins in the market as of now.

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WHAT IS THE BLOCKCHAIN TECHNOLOGY?

I know that wikipedia is not an authority speaker, but we all go there for general knowledge/information. So I'm going to rely on it again to explain Blockchain here and I quote:
**"A blockchain is a distributed database that is used to maintain a continuously growing list of records, called blocks. Each block contains a timestamp and a link to a protocol for validating new blocks. by design, blockchains are are inherently resistant to modification of the data. Once recorded, the data in any given block cannot be altered retroactively without the alteration of all subsequent blocks and the collusion of the network. Functionally, a blockchain can serve as 'an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way. The ledger itself can also be programmed to trigger transactions automatically"
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Blockchains are secure by design and are an example of a distributed computing system with high Beyzantine fault tolerance. Decentralized consensus has therefore been achieved with a blockchain. This makes blockchains potentially suitable for the recording of events, medical records, and other records management activities, identity management, transaction processing and documenting provenance.
The first blockchain was conceptualised by Satoshi Nakamoto in 2008 and implemented in the following year as a core component of the digital currency bitcoin, where it serves as the public ledger for all transactions.The invention of blockchain for the bitcoin made it the first digital currency to solve the double spending problem, without the use of a trusted authority or central server. The bitcoin design has been the inspiration for other applications"
Yea, even though countries like Nigeria and few others still tagged Bitcoin an illegal tender, the truth remains that Bitcoin is a decentralised currency.
What I simply mean here is that no country can stop its movement within her territory. This is because, Bitcoin is not transferred via any institution like banks, you cannot trace who is doing the transfer or the receiver as every transaction is via ''encrypted'' long chains of codes in places of account names and numbers.
Again, it is also important to note that the secular financial institutions have began to see an arch-competitor in business. But whereas the great nations like USA, Germany, Russia, Japan, India, Brazil and lots of others with their financial institutions have seen the foolishness in fighting a cryptographic decentralised system, they immediately cued in to explore its advantage as early worms, while many developing worlds are making policy statements against a system they don't even understand its configurations. In Nigeria for instance, thousands of her citizens are involved in legitimate trading and mining of Bitcoins and Altcoins and there is no way any policy statement can track or stop these.
The illegality tag on bitcoin in any country can only prevent its exchange from taking place through their secular financial institutions and thereby also preventing the government agencies from tracking its movement in any scale whatsoever.
in Nigeria, despite the illegal tag on virtual currencies, money is moving freely across the shores through Localbitcoins trading platform, Coinbase, Luno and Nairaex exchangers as well as through a lot of other corporate and private exchange firms that have evolved along the line.
THE PROS AND THE CONS OF GETTING INVOLVED WITH CRYPTOCURRENCIES

The most important advantages of Bitcoin and some other Altcoins are their global acceptance (even by most world governments and establishments), freedom of control by any government systems, or their sole control by market forces alone. As a result, there are very minimal transaction charges (just to compensate the miners of these currencies), as compared to those imposed during transfer of fiat currencies.
Another advantage is the near instant transaction speed. I have had a bitcoin transaction getting confirmed in less than a minute!
Then imagine you transferring all your money in bitcoins and then travel to any part of the world where you can comfortably cash it out in that local currency without any exchange fees. You may be luck to get a higher value at the time of withdrawal due to appreciation of the value.
HOW YOU CAN BE PART OF THE CRYTPOCURRENCY REVOLUTION
We are now at the meat of the entire discuss.
Actually this can be, and has been a wealth creation revolution to many people. But even at that, cryptocurrency has become the 21st century most treasured currency. So you cannot be kept in the dark or rather, you cannot keep yourself in the dark.At this point I'm going to concentrate on Bitcoins serving as a guide to the altcoins.
The entry point into the Bitcoin acquisition is the procurement of one or more Bitcoin wallet accounts.
The next step is either to buy the Bitcoins (recommended) or to join some Free Bitcoin Faucets to acquire very tiny fractions daily, as a reward for doing some menial tasks for the owners of the sites.
The initial bitcoins you acquired these ways can now be kept in your wallets to be appreciating and later on, you can sell part or all of that at the new appreciated rate.
To go about this in othersome other way is to go into real Bitcoin business. This can be in the way of mining business or trading business.
OPENING A BITCOIN WALLET ACCOUNT
The most useful wallets are those ones that serve, not only as a payment gateway, but also serve as platforms for exchange and trading with the persons local or desired currencies. The wallets of global repute that are very suitable for these purposes in the African setting now are as follow:
LOCALBITCOINS-To get your free wallet, click at Here and sign up.
to get a free wallet, you also need to sign up at Luno Here.
Blockchain see here
If you want to come on board the CryptoWealth Creation in a bigger way, you can be part of our CRYPTONAFRICA ACADEMY Powered by @cryptonafrica, where where we are leveraging on Cryptocurrency Trading Tools. Gain MASTERY in BITCOIN & ALTCOIN TRADE from a "Traders Perspective" + other incentives in the #cryptoworld within 30days. Enroll now https://cryptonafrica.com/academy or simply drop a message on this post and be connected Asap!

Also you can be a part of our livecast on zoom

There is this common saying: If you cannot run walk, crawl, but please don't stand still. This is my opinion: "Africa must not lag behind in this revolution". Cryptocurrencies are the 21st century currencies and you should be part of these."

Feel free to leave behind your views, questions, and remarks.

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