Cryptocurrencies had become the ”celebrity ” in the fintech industry and in Africa as many companies investing in block chain are looking forward to taking a move to the continent which is an emerging market.
African blockchain start ups and investment companies are working hard to find solution to the challenges faced by Africans in international money transfer ,voting, real estate and others. This has led to the development of some great projects and cryptocurrencies which we will share with you based on the crypto Africa team.
1. KOBO Coin (KOBO)
Kobocoin is a decentralised peer-to-peer digital currency and micro payment system. Kobo coin was created by Felix Onyemechi Ugoji, who is a Nigerian entrepreneur and developer based in the UK. Kobocoin had been around since Kobocoin is the first decentralized crytocurrency with an African heritage. You can hold some Kobocoin in the wallet and get rewarded when news coins are minted,transactions are fast with a low fees and secured using the advanced cryptographic hashing functions. Kobo coin can be traded on coinexchange,nova exchange,cryptopia,Yobit and will be listed on more exchanges in the future website: https://kobocoin.com Block Explorer: https://chainz.cryptoid.info/kobo/
2. Golix Coin (GLX)
Golix Coin is a cryptocurrency with a great potential as they already have a MVP. Golix is one of the top Africa’s crytocurrency exchange that started in Zimbabwe after the Zimbawean dollar was hit by hyperinflation in 2008.
The Golix token is created with a purpose to facilitate money transfer and payment in Africa. The Golix token thus provides a way for Africans convert fiat to cryptocurrencies and vice versa.
So far they have conducted the most successful ICO in Africa at the moment this post was done. They set a target of 32 million dollars and sold 65% of the coins respecting the date line for the end of the ICO unlike other projects with unending ICO till their target budget is met.
The Golix token(GLX) can be traded on the Golix exchange just like binance coin on binance. The coin will be listed on other exchanges as well in the future.
mCoin is another great project created for Africans. The coin was created by the ONEm Communication in London. Those who own mCoin can transfer using text or smart phones app.
mCoin is a cryptoucrrency that works without the internet. It does can be used widely compared to the other cryptocurrencies that require the internet to make transactions. You can use mcoin both online and offline. Mcoin brings the first sms wallet in the cryptocurrency world. This means you just need a mobile phone to own,trade and store mCoin.
With a large number of Africans having mobile phones, the success of mobile money can be repeated with mCoin.
So far there is an SMS wallet,smart phone wallet (Android and IOS) and a web wallet making access to the cryptocurrncy very easy. mCoin has some key values which include scalability, reward system for the mCoin community , pseudo mining and consider both the internet and none internet connected areas in Africa.
4. Ambazonia Coin (Amba coin )
Ambacoin is a cryptocurrency that came about as a result of the anglophone crisis after the declaration of Independence on October 2017.
This cryptocurrency has no real use as its main objective is to raise money to fund the anglophone crisis.
This means the token can be worth nothing after the ICO since there is no blockchain project behind it than rasing money to fund the crisis.
The Ambacoin is at the ICO phase and its clearly stated that all sales of the coin will be directed to fund the Ambazonia struggle, to rebuild destroyed homes,defend communities and assist internally displaced person.
The cryptocurrency seem to be a crypto for charity.
The target community for this crypto is the the Southern parts of Cameroon which involves the North West and South West regions of Cameroon.
Nothing had been mentioned about listing the cryptocurrencies on exchanges. However there is a claim that the Ambazonia governement will buy back all the coins with a 34% interest. This makes me put a red flag on this project. You are advice to do your own research before venturing into any cryptocurrency.
If you care about the challenges faced by the people of Southern Cameroon, then this can be a great way to contribute and watch your how the money is used as it is on the block chain. A better way for fund raisin g. But if you are for profit making then, take into consideration the duration of the ICO and others
Whitepaper: Download White Paper
Decentralized Funding for all Ambazonians
AmbaCoin, a decentralized approach to resource distribution and accountability to effectively fund all blocks, all groups, communities and volunteers on ground zero working to free Ambazonia.
Ubuntu Coin (ucoin)
Ubuntu Coin is another cryptocurrency that has hit the air waves with an Award at the 2018 ”African Bankers Award” that held in South Korea.
U-Coin is the world’s first digital currency designed for the Afro-Descendant community that will help Africans to build,transfer and retain wealth.
U-Coin is created by Ubuntu Capital Group together with its partners Africa 2.0 and The Centre for Citizenship, Enterprise and Governance (CCEG).
U-Coin is one of the cryptocurrency projects in Africa that has gain international recognition winning an award and equally have reasonable backing.
Ubuntu coin is the first cryptocurrency in the world to transact and record both financial and non-financial value of the global-afro descendant community on a blockchain.
Thank you for going through are African cryptocurrencies. There are great projects that have been created to target the challenges faced by Africans. We therefore encourage the African community and lovers of the African community to get involve in an African blockchain or cryptocurrency project.
You are always advice to know that there is risk in investing in cryptocurrencies. This is why we advice you to all do your ow research (DYOR) before investing. Secondly never invest what you cannot afford to lose in any cryptocurrency be it African or non-African .
African cryptocurrencies to watch are mcoin and U-coin.
We might not have all the best cryptocurrecies listed here. We will keep updating this post with other African cryptocurrencies. Feel free to write our PR team at firstname.lastname@example.org about an African cryptocurrency so that we can include in this post.
What is your favourite African cryptocurrency?