31 Jan Africa - Which Digital Currencies Do We Think Are Most Likely To Be Used And Adopted For Ecommerce Payment And Online Payments (Part 4)

This is the fourth in a series of articles on the crypto currencies or digital currencies we think will most likely be used for payment across Africa.  The crypto industry and the development of these payment coins and tokens is constantly evolving so its anybody’s guess which will come out on top over the next few years.

Here’s our choice of digital currencies we currently expect to be the best for online payment across the African continent:

  1. Bitcoin (BTC)
  2. Bitcoin Cash (BCH)
  3. Dash (DASH)
  4. Monero (XMR)
  5. Zcash (ZEC)
  6. Litecoin (LTC)
  7. XRP
  8. TRON (TRX)
  9. Stellar Lumens (XLM)


  1. Terra

Terra is a price-stable cryptocurrency aimed at mass adoption. The team aims to have Terra evolve into a new financial infrastructure for the next generation of decentralized apps. We could be underestimating the scale and market traction for Terra as its founder Daniel Shin is founder of Korea's leading e-commerce platform TicketMonster with $3.5 billion in GMV and Terra now has payment processing partnerships with more than 25 of the largest eCommerce providers in the world and a system for optimising use and incentivisation with Terra. Investors in Terra include Binance Labs,  OKEx, Huobi Capital, the firm behind Korea’s Upbit, Polychain Capital, China’s FBG Capital, Hashed, 1kx, Kenetic Capital and Arrington XRP. 

  1. Bitcoin SV

Bitcoin SV stands for Satoshi Vision. BSV is a 2018 hard fork of Bitcoin Cash driven by a team including Craig Wright.  The reason for the fork is bigger blocks that reduce transaction costs which makes BSV good for payments.  When it comes to Africa BSV could get a boost from Lorien Gamaroff cofounder and CEO of Centbee, an Africa-focused cryptocurrency payments and remittance company supporting and marketing BSV as the payment coin. 

  1. Verge

Created in 2014, Verge (XVG) is an open-source privacy coin. Transaction speed on Verge is estimated to be at 5 seconds due to the use of Simple Payment Verification (SPV).  Verge has done very well in signing up merchants in eCommerce retail and being a privacy coin has achieved good traction in the adult and casino verticals.

  1. Dogecoin

Dogecoin (DOGE) is a cryptocurrency that was forked from Litecoin in 2013, mostly for fun, and has been particularly successful.  Dogecoin is used primarily as a tipping system on Reddit and Twitter to reward the creation or sharing of quality content. Dogecoin was created by Billy Markus from Oregon and Jackson Palmer from Australia. 

  1. Decred

Decred (DCR) is an open-source, 2016 Bitcoin fork by the Bitcoin developers behind btcsuite using a hybrid proof-of-work (PoW) proof-of-stake (PoS) consensus voting system, a public proposal platform (10% of block rewards are going into a treasury fund), smart contracts, cross-chain atomic swaps, and cross-platform wallets. 

  1. PivX

PIVX, a 2015 fork of DASH, was one of the first privacy coins and first to introduce Proof of Stake (PoS) consensus and is an MIT licensed, open-source, decentralized blockchain-based cryptocurrency focused on achieving fungibility, transaction privacy, community governance, network scalability, and real-world utilisation. 


Ok, that sums up our take on the “vanilla” coins and tokens that are suitable for online payments and particularly for eCommerce payments across Africa into the future.  Having said that, we believe it is not yet mainstream and advise our multinational, eCommerce merchants to exercise restraint when it comes to enabling cryptocurrency for payment.  At this stage we suggest that it could be for experimentation and learning purposes.  

Our next article will deal with the wild cards, some of which could completely gezump the above coins if they come to reality in a big way:  Ethereum, Stablecoins,  Exchange coins, CBDC’s, Social media coins like Telegram’s “gram” and Facebook's Libra.

Currently card and mobile monies are the dominant payment methods across Africa.  

To get paid at the checkout with card and mobile money when expanding your multinational eCommerce company to Africa, please click here.

Our services include: 

  • Nigeria online payment solutions - Nigeria credit card payments - Nigeria eCommerce payments - Nigeria payment provider - Nigeria payment gateway
  • Kenya online payment solutions - Kenya credit card payments - Kenya eCommerce payments - Kenya payment provider - Kenya payment gateway
  • South Africa online payment solutions - South Africa credit card payments - South African eCommerce payments - South African payment provider - South African payment gateway




Out thanks to Coinmarketcap for letting us "borrow" and embellish some of the coin descriptions :)