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The Rapid Growth Of The South African Cryptocurrency Industry

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The Rapid Growth Of The South African Cryptocurrency Industry

The Rapid Growth Of The South African Cryptocurrency Industry

For quite some years now, safe to say over a decade, South Africa has been faced with a lot of internal issues and political disorder. The cryptocurrency industry in South Africa has served as a sustaining tool in moving the nation forward. Now it’s time of booming in their local crypto market. South Africa is going to be a potential big market for cryptocurrency and we shall see why shortly.

First, some strong players in the industry are offering cryptocurrency services to large asset owners in the country. Also, they extending it to other countries that also deal with crypto exchanges. In South Africa, “Bitcoin” is currently the most trending term on their Google search.

Secondly, south Africa cryptocurrency industry is not just raising a mere technological interest but is accumulating a stream of interested investors. The big drop in prices of digital currencies in some of the major exchanges in the world over a month ago, was a big advantage to South Africa and has raised major interest from startups and existing Companies.

Actions That Led To The Booming Of South African Cryptocurrency Industry

Many companies within South Africa wants to be a part of the fast growing crypto industry, as well major international companies that are proposing to develop a wide global platform. This is partly because a good number of South Africans are currently interested in purchasing crypto. Every trending crypto scene in Africa is experience the same.

The coin Luno, that was established recently is also operating in South Africa among 40 other countries. South African crypto users can purchase Ethereum and Bitcoin through a FICA process on the exchange.

During the third quarter of 2018,the cryptocurrency industry in South Africa will be booming alongside other exchanges. SygniaCoin is a new coin exchange, founded by CEO, Magda Wierzycka. The Sygnia new coin will enable local users to buy crypto with Rand and will regulated exchanges in new York.

South African Blockchain Startups

Generally, the South African blockchain platform is growing, the technology has been greatly welcomed and is gaining grounds. So it’s not just exchanges that are buying into it but the nation as a whole is becoming crypto friendly. New blockchain tech startup companies like Status and Loom Network have possess the tendency and qualities if being globally sorted and make South Africa one of  largest crypto-tech scene.

With all the new exchanges, blockchain technology platforms, new startups, local companies that are interested in cryptocurrency when the prices are low. South Africa is just so excited about the whole idea of crypto. Their cryptocurrency industry is booming, gaining more grounds and rising above the odds of political disorder in the nation.

Ashton Felix is currently a contributing writer for multiple crypto news sites. He got his big break when he mined his first bitcoin back in 2012. He enjoys learning about new technology and travels throughout Asia in his spare time. Ashton immediately fell in love with the culture and people of China. He is currently based out of Shenzhen and is fluent in Mandarin.

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