Published May 3, 18
Welcome to the world of Bitcoin! I am Aymen BOU, an Algerian born U.K citizen who is determined to spread out our message to people all across Africa and making sure that they are aware of the amazing great things crypto currencies can do!
Bitcoin is revolutionizing the financial and banking sector!
No longer will the rich stay richer and the poor will trail along in the background. Bitcoin allows you to essentially become your own bank. You are in full control of your money. You decide where it goes and you don't pay for anything without knowing exactly how much the total cost is going to be.
Right now it's ridiculous how much companies such as Western Union are charging people who are wanting to send money back home for example from the U.K to Algeria. With Bitcoin, the transactions are done almost instantaneously and with very little fee (depending on the network at the time).
Bitcoin is decentralized
There is no one organization controlling and verifying your transactions behind the scenes with Bitcoin (as is the case with Banks). Miners all across the globe are tasked with verifying your transactions (Making sure that if Bob wants to send 5 BTC to Alice, Bob actually has that amount beforehand) and inserting them into blocks that will be placed onto the blockchain (a public ledger that is visible to everyone), and the process is repeated. What incentive is there for the miners to do this? They receive a small amount of Bitcoin every time they mine a block which is automatically given to them regardless of who they are (it is programmed into the protocol).
Right now, even you can mine (Although you would have a lot of competition to do so!)
How can Bitcoin help you?
1.) Bitcoin cannot be created out of thin air, meaning that the only way to attain BTC is to mine it or sell an item or service for it. It cannot be printed making it very appealing to high inflation countries such as Zimbabwe.
Man carrying billions of Zimbabwean Dollars in a wheelbarrow
2.) Bitcoin is decentralized. No individual owns Bitcoin. If you participate in the network by using Bitcoin, you own Bitcoin. History has proven once and once again that when power is given to a subset of individuals, it tends to be abused which leads to civil unrest and corruption. With Bitcoin everyone owns a piece and therefore it's in the best interest of everyone to maintain it and keep it healthy.
3.) How to get it? Bitcoin and other crypto currencies are currently banned in a number of countries including Algeria. The best possible way to find a way to get hold of some is by finding a local dealer that perhaps buys and sells Bitcoin for the local currency - Dinars. If you are in a country which accepts crypto, buying is as easy as creating a CoinBase account by clicking here
If you have any more questions please let us know at @algeriabtc.
Thank you :)