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Africa's Young Professionals Embracing 'gospel of Bitcoin'

Friday, 23 March 2018 05:38 AM

KAMPALA, Uganda (AP) — Some tech-savvy Africans are embracing bitcoin, the most popular virtual currency, despite the warnings of a few governments, seeing the volatility in its value a better risk than the usual hustle amid the continent's high unemployment.

Many bitcoin adoptees are professionals aiming to supplement their salaries, but others are jobless millennials hoping to make a living by trading the cryptocurrency, which isn't tied to any bank or government and, like cash, allows users to spend and receive money anonymously or mostly so.

In Kampala, Uganda's capital, Richard M. Bagogoro gives lectures to small groups to preach what he calls "the gospel of bitcoin."

On a recent morning Bagorogo explained how he once could not afford to enroll his children in the international school where he taught but now he is more affluent.

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Some tech-savvy Africans are embracing bitcoin, the most popular virtual currency, despite the warnings of a few governments, seeing the volatility in its value a better risk than the usual hustle amid the continent's high unemployment.Many bitcoin adoptees are...
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2018-38-23
Friday, 23 March 2018 05:38 AM
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