Bitcoin Activity in South Africa Bigger Than All African Countries Combined: Blockchain Africa Conference

• The Blockchain Africa conference held in March had discussions centered around the prevalence of cryptocurrencies and blockchain in Africa.
• Education to play a key role in proliferating crypto trading: Binance South Africa country manager

The Blockchain Africa Conference held in mid March 2020, the biggest in the continent, primarily focused its discussions on technology that holds up cryptocurrencies like Bitcoin, and less on the crypto trading space. Various local cryptocurrency exchanges were present in the conference. Global cryptocurrency exchange platform Binance also made an announcement launching trading support for South African Rand.

Eminent cryptocurrency trader Tone Vays, who was also present at the conference, spoke to Cointelegraph about how people are skeptical of cryptocurrencies and are focusing on its underlying technology. Vays spent some time with cryptocurrency exchange owners at the conference and was enthralled by the interest shown by them and called crypto exchange in South Africa “probably bigger than all the other African countries combined.” He further added that Binance’s entry in South Africa would be beneficial to the local exchanges.

Binance South Africa country manager Tanya Knowles said that education will play a significant role in facilitating crypto trading as crypto is still seen as a means to execute illicit activities.

“The biggest thing right now with Binance coming into the country is to ensure there is education around scams that are associated with anything that we do. We have to have a lot of emphasis around security, make sure people are using 2FA and other safety measures. We need to get the basics in place before we open it up and say, go wild and start trading.”

She added the the first step to achieve this should be to begin trading with small amounts.

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