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0 sats \ 2 replies \ @KenyaCoin 22 Sep \ on: Strike and Mobile Money Integration: The Seamless Path to Bitcoin in Africa bitcoin_beginners
Except, Strike actually integrates in very few countries in Africa:
https://strike.me/faq/which-cash-payment-methods-are-available-by-country/
There is "Send Globally", which is not reflected in the chart from the FAQ in the link (above), but even then there are significant gaps (e.g., Strike's Send Globally feature does not list Malawi as a country you can send to):
https://strike.me/faq/which-countries-are-available-for-send-globally-eu/
In places where Strike and Strike's Send Globally are available , ... they definitely dominate on the cost factor, relative to not only traditional remittance methods but to new fintech, p2p, and other approaches
Thank you for this. But...
It's all about the ability to buy Bitcoin easily. Once the individual has Bitcoin, they can send funds to anyone, anywhere else in the world.
People can buy Bitcoin in portions, according to their economic budgets:
Direct P2P Transactions: Users are able to perform direct peer-to-peer transactions by purchasing as little as 100 sats. Using such a low entry point makes Bitcoin available even for those people who have very minimal resources. Azteco Vouchers: For those looking for something a little more formal, Azteco vouchers allow purchases as low as $1. This makes it ideal for beginners because they can purchase Bitcoin locally and transact globally with no need for an internet connection.
Strike App Purchases: The Strike app makes this available at as low as $5. Its very user-friendly user interface takes people through the process in just a couple of taps on their mobile device.
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When you are financially poor, money that comes in must, essentially, instantly go out (i.e., there are expenses, purchases, or debts where those funds received will be used).
It's the same everywhere in the world where the poor are, but in most of Africa, being financially poor is the norm, not the exception.
Thus integration where spending bitcoin to pay in fiat is necessary, otherwise the bitcoin earned (or bought) is limited (or useless) to those who do not save and are not in a financial position to where saving in bitcoin is an option. When there is wider acceptance of bitcoin by individuals, merchants, and lenders, then at that point funds received can be turned around and spent immediately. But today, there's a wide gap between when bitcoin comes in and the ability to use it for spending that would otherwise be done in fiat funds.
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