How Crypto is Empowering African Youth

In recent years, the use of cryptocurrency has become a subject of discussion among many youth in Africa. Crypto just refers to online money, which can be used to purchase, sell, or store without the regular bank system. Being a guy in Nigeria I have witnessed the way this new form of money is transforming the lives of the youths around me. It is providing us with new hopes and new opportunities which our parents did not have.

African youth are being assisted in one huge way by crypto, which is the creation of new jobs and income. Millions of youths are getting informed on how to trade crypto, purchase and sell coins and even get hired by companies that compensate in crypto. It was difficult to get a well-compensated job before, but with crypto, an individual can work on the internet and make money anywhere in the world. I have friends who go out and sell and earn money daily using their phones without leaving their homes.

Our ability to receive and send money is also becoming easier with the help of crypto. In Nigeria and most of the other African nations, transferring money at the bank may be cumbersome and expensive. There are cases where bank transfers do not work or it takes days. With crypto, however, you can transfer money to a friend in a different country in a few minutes and pay very little. This is quite favorable to young business owners whose sales are online and the customers are not in Africa.

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Cryptocurrency allows us to acquire new skills, which is one more method of its empowerment. A high number of young people are studying the concept of blockchain technology, coding, and digital finance. These are skills that come in handy in the contemporary world which is going online in everything. Online classes have been attended by some of my friends to understand the workings of crypto and it is now offering services such as designing crypto wallets, creating NFTs, and developing blockchain. Even in other parts of the world, these skills can result in big careers.

Crypto also gives us freedom. The local currency continues to depreciate in value in some of the African countries. Food and goods prices increase day in, day out. However, with crypto, the youth will be able to store their funds in a manner that is not affected by inflation. I am personally fond of the fact that I can store my savings in a coin such as a Bitcoin and it will not depreciate the way our naira does.

Despite such advantages, crypto does have its dangers. Prices might increase and decrease within a short period of time and this has made some people lose money in case they are not careful. It is why it is necessary to educate young people before making investments. I can always advise my friends that they must read and practice before they can put their money on any coin.

Conclusively, crypto is not digital money. It is an empowerment mechanism of the African youth. It is opening opportunities to employment, education and economic liberation. Because I am a Nigerian young person, I think that crypto is also providing us with the opportunity to build a better future, despite the fact that our economy and government seem to leave us down. The world is evolving, and in the case of crypto, we can progress with the feeling of confidence and hope.