Cryptocurrency as a digital asset is designed to work as a medium of exchange that uses cryptography to anonymously secure its transactions, control the creation of additional units and to verify the transfer of assets. Cryptography the process of converting legible information into an almost uncrackable code to track purchases and transfers – has evolved into a key way to secure communications information and money online in the digital age. Although the impact of cryptocurrency in Africa may not be commercially significant yet, there is a growing demand for it in the region. An assessment of the cryptocurrency market in Africa, suggests that for wide spread adoption of this model to occur in the region, it will require a mechanism for on -the-fly exchanging of cryptocurrency to a value of the flat money. This is on the basis that and stock providers continue not to accept cryptocurrencies as payment.
