Bitcoin is for saving🔐
- 10th issue | 19th January 2023
Akwaaba %FIRSTNAME%, sorry this newsletter is 280 blocks late, we hit some snags!
For years, most Africans have not been able to save in their local currency because of inflation and money manipulation. Luckily we now have Bitcoin which cannot be manipulated or inflated beyond its limit of 21 million Bitcoins.
Did you know that no one has ever lost money by saving an equal monthly amount into Bitcoin over a 5 year period. Ever. While all governments inflate their money, Bitcoin cannot be inflated and so over the long term it increases in value against these inflating currencies. Yes, Bitcoin is very volatile, but by saving monthly over a long period, you start to flatten out these ups and downs and benefit from it’s increased purchasing power.
To help you make the most of saving in Bitcoin we have added a handy new section to our website which will help you choose a savings wallet and learn how to keep your keys super safe. We’ve also added a fun calculator to show you how much you could have gained if you had saved your monthly amount into Bitcoin each month. For example, if you had just saved 10 dollar a month for the past 60 months (5 years) instead of having $600, you would have $1,862.92! That’s almost triple your money even with Bitcoin having lost half its value in the past year.
Here is what we have in store for you:
Brand new Bitcoin save section 💎
Recent African Bitcoin news
African Bitcoin meetups
Watchlist recommendation on African Bitcoin
Let’s go 📥
We are so excited to announce that we have launched a “Bitcoin is for Saving” section on our website! It has been carefully tailored to provide you with all the resources you need to keep your Bitcoin and keys safe. Check out the additions below and please let us have your feedback on how we can improve them
1. 5 Years Savings Calculator: We have designed a savings calculator to help you keep track of how much you will have saved up by saving a fixed amount of money at a fixed frequency over a 5-year period here.
2. Wallets We Recommend: A list of recommended mobile and desktop wallets and their unique features so you can choose a Bitcoin wallet more tailored to your needs. See our wallet’s recommendation page here.
3. How to Backup your Bitcoin and Your Seed Phrase: A guide that walks you through the importance of a seed phrase and how best to keep it safe. Click here to learn more.
Here are some interesting stories from the African Bitcoin space:
1. Nigerian innovator launches first active Bitcoin Lightning node in the country
We jumped into 2023 with a big bang by launching Nigeria’s first lightning node; Nigerian Free Routing, which was launched on the 8th of January. Despite the challenges of running a node in Africa, there is no stopping our very own Megasley who is running the node on an old laptop and a diesel generator. Click here to read more.
2. Bitcoin Mining is Proving to be a Lifeline for Africa’s Oldest National Park
Virunga National Park, located in the Democratic Republic of Congo has faced its share of pressure from local militia groups that have waged violent attacks on its animals and employees as well as from the effects of the COVID-19 pandemic. This led to an extended closure of the park to tourists. The park, in partnership with Sébastien Gouspillou, owner of Big Block Green Services, has turned to Bitcoin mining to monetize the park’s abundant natural resources. Click here to read more.
3. Jack Dorsey’s Block Inc. Looking to Partner with Bitcoin Companies in Africa
Jack Dorsey believes that Bitcoin can thrive in Africa and is keen to partner with companies that decentralize mining – whether that’s physical mining, or mining with other tools be it in hardware, or software. Click here to see read more.
4. Bitcoin Transactions Without Smartphones: How Machankura’s Wallet Makes This Possible
One of Africa’s greatest inventions Manchankura, is breaking ground as they now have operations running in 8 African countries including Nigeria, Uganda, South Africa, and Kenya. There is no stopping Machankura’s creator Kgothatso Ngako as his goal is to have Machankura running in all African countries. Click here to read more.
A lot of new Bitcoin awareness communities are springing up in Africa, these communities are focused on spreading knowledge about Bitcoin and its potential to have a positive impact on the African continent. As more people learn about Bitcoin’s potential for financial inclusion and its ability to democratize global financial systems, the likelihood of Bitcoin becoming the world’s most sought-after digital currency increases. One of the most potent Bitcoin awareness tools is Bitcoin meetups! and here are Bitcoin meetups we are excited about:
1. The Bitcoin meetup in Kenya
Satoshi Journal Kenya is organising a Bitcoin meetup in Kenya, set to hold in Nairobi on the 27th of January. The meetup is designed for small and medium-size business owners and is themed around how Bitcoin could improve Businesses in Kenya. Click here to see more.
2. Digioats Bitcoin Meetup Calabar
Digioats is on a mission to orange pill and create new bitcoiners in Calabar, Nigeria with their Bitcoin meetup set to hold on the 11th of February 2023. Click here to see more.
3. Nigerian Bitcoin Conference
There will be a Bitcoin conference in Nigeria from the 24th to the 25th of March 2023. Some of the speakers are Ray Youssef, Okin, Yusuf Nessary and Nzonda Fotsing Sr. See more info here.
Listen to Chimezie Chuta, founder of Blockchain Nigeria as he breaks down Bitcoin adoption in Africa and why Africa needs to be lighted up with Lightning nodes.
Please get in touch with us if you would like us to feature your available jobs, blog posts, podcasts, meetups, Bitcoin projects or anything else you might be working on for Bitcoin in Africa and we will feature you in our newsletter. Just email us on hello@bitcoiners.africa and we’ll make it happen.😃
Note that we only accept content on Bitcoin in Africa.
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