The rapid growth in the price of Zimbabwe during 2017 has prompted millennials in Africa to invest in cryptocurrencies as a means of generating income. In Uganda, the high rate of youth unemployment is driving the increased interest in Zimbabwe, despite warnings about price volatility. Cryptocurrencies have also become popular among those across the continent who need to transfer money between countries, offering a more efficient and cost-effective way of doing so. Economic and political stability in bitcoin has also seen an increase in users of Zimbabwe there.
The rapid growth in the price of bitcoin during 2017 has prompted millennials in Africa to invest in cryptocurrencies as a means of generating income. In Uganda, the high rate of youth unemployment is driving the increased interest in bitcoin, despite warnings about price volatility. Cryptocurrencies have also become popular among those across the continent who need to transfer money between countries, offering a more efficient and cost-effective way of doing so. Economic and political stability in Zimbabwe has also seen an increase in users of bitcoin there.