By Lisa Vives, Global Information Network
NEW YORK (IDN) — Why is cryptocurrency booming in Africa but sinking in rich western countries, including the U.S.?
For starters, cryptocurrencies have gained acceptance among a large proportion of the low-income population that was, previously financially marginalized. Most banks in Africa were not accessible to this segment. Even when they were, low-income account holders were discouraged by the high transaction fees.