Weekly Roundup: Jack Dorsey’s NFT Tweet to Help the Poor in East Africa

Jack Dorsey’s NFT tweet will help the poor in East Africa through an upcoming bitcoin donation. To learn more about this developing story and other news, keep reading.

Jack Dorsey’s NFT Tweet to Help the Poor in East Africa

As the non-fungible token (NFT) craze continues, Jack Dorsey is auctioning his first tweet on Twitter as an NFT. Dorsey posted this tweet on May 6, 2006. The auction is taking place on Valuables and will end on March 21, 2021.

Jack Dorsey NFT Tweet

Dorsey has tweeted he will convert the proceeds of this auction to bitcoin and donate them to GiveDirectly. This is a non-profit organization that seeks to end extreme poverty in East Africa. Donations sent to GiveDirectly benefit people in Kenya, Rwanda, and Uganda.

Currently, the highest bidder of this NFT tweet was a Twitter user with the handle @sinaEstavi. He outbid Tron CEO Justin Sun, who had bid $1 million. Estavi bid $2.5 million.

Valuables wrote: “The tweet itself will continue to live on Twitter. What you are purchasing is a digital certificate of the tweet, unique because it has been signed and verified by the creator. Owning any digital content can be a financial investment, hold sentimental value, and create a relationship between collector and creator. Like an autograph on a baseball card, the NFT itself is the creator’s autograph on the content, making it scarce, unique, and valuable.”

Uncertain Regulatory Environment Pushes Crypto Firms Out of South Africa

The uncertain regulatory environment is pushing crypto firms out of South Africa. According to an article on Business Tech, the MTI scam gave regulators in South Africa a jolt and some firms will not wait to see how the matter pans out from a regulatory standpoint.

These crypto firms are planning on moving to Singapore and the UK. That is because Singapore is redrawing legislation to attract crypto firms while the UK is getting requests to embrace cryptocurrencies.

Revix, a crypto investment platform that allows customers to invest in a bundle of cryptocurrencies, is moving its headquarters from Cape Town to the UK. The company is also considering setting up in Germany to scale its operations.

Luno is another crypto company with headquarters in the UK despite being owned by South Africans. The exchange also operates in Singapore.

South African regulators “have been incredibly slow in terms of regulation in the industry and that leads to businesses looking internationally. In an unregulated environment, a customer arrives at our platform with skepticism, and rightfully so,” said Revix CEO Sean Sanders in an interview.

According to Sanders, the uncertainty regarding potential regulation is also making it difficult for crypto firms to market their services on social media platforms thereby limiting growth.

Binance CEO CZ Among the Top Blockchain Billionaires in 2021

Binance CEO, Changpeng Zhao (CZ), is among the top blockchain billionaires in 2021 according to the latest Hurun global list. CZ and 16 other billionaires have cumulative wealth of US$ 77 billion. These billionaires have generated their wealth from running crypto exchanges, investing in cryptocurrencies, and mining crypto.

After facing a price correction in 2018, crypto billionaires are enjoying a boost in their wealth thanks to the recent bull run.

The top five billionaires are Brian Armstrong of Coinbase, Sam Bankman-Fried of FTX, Changpeng Zhao, Chris Larsen, and Jed McCaleb of Ripple. Their net worth is $11.5 billion, $10 billion, $8 billion, $5.1 billion, and $3.2 billion, in that order.

5 Ways to Buy Bitcoin Quickly and Easily as a South African

In the last couple of years, we have heard so many things about Bitcoin. Investors call it digital gold, an investment, a store of value, the future of our currency, the revolution of payment, and so forth. The best indicator for these attributes is the current price of Bitcoin, a whopping $50,000. No wonder why people are rushing to buy bitcoin in South Africa.

Buying bitcoin for some people can be intimidating. The thought of how to go about it, where to buy it, and the fear of being scammed are some of the challenges newbies face.

You don’t have to worry about any of the aforementioned challenges. In this article, we will be digging into the several options you have to buy bitcoin in South Africa.

There are presently five major ways to exchange Rand for bitcoin. We will look at the options one after the other and review their advantages and disadvantages.

1. P2P Exchanges

The first way to buy BTC is through a P2P Exchange. It is the most common method people use to buy bitcoin. Peer-to-Peer exchanges are platforms that bridge the gap between buyers and sellers by providing a marketplace for both buyer and seller to meet and make transactions.

The most popular P2P platform for trading bitcoin in South Africa is Remitano. On Remitano, you set your price rate and the amount of bitcoin you want to buy and wait for interested sellers, while the Remitano Escrow system ensures that both parties fulfil their end of the trade. The transaction fees are usually very low for P2P and range from 0 to 1%. Remitano P2P is suitable for newbies and expert traders, thanks to the unique and friendly user interface.


  1. The transaction rates are usually very low.
  2. They are simple to use.
  3. They are a decentralized market, it makes use of software to connect buyers and sellers.
  4. It offers good liquidity, and it is a nice option to easily change your South African rand to bitcoin.


  1. Most require personal information and offer very little anonymity.
  2. Finding buyers and sellers can sometimes be stressful especially when you are buying a small amount.

2. Traditional Exchanges

The second way to buy bitcoin in South Africa is the traditional crypto exchanges. They are digital market places where people buy and sell bitcoin. Some examples of exchanges are the Binance, Huobi Global, Lykke, F-change, etc. in these platforms the price of bitcoin is fixed.

These types of exchanges are also called spot exchanges. They allow users to trade one cryptocurrency for another, buying and selling coins and exchanging fiat into crypto assets.

On spot exchanges, traders use to trade other crypto assets against BTC to profit from the volatile nature of the crypto market. Spot exchanges are more suitable for traders and may seem intimidating for newbies. Since they allow users to also buy bitcoin with fiat, the process will be intuitive. Moreover, there is nothing hard about crypto trading, a little research will teach you basic things about the craft.


a) It is easy to use.

b) Some require little information from you.

c) They allow high varieties of fiat, almost all currency is available.


a) Most are usually slow.

b) Exchanges rates are sometimes high.

3. Bitcoin ATMs

Bitcoin ATM is the third method people use to buy bitcoin. South Africa has 7 bitcoin ATMs, which is the highest in Africa. BATM is undisputedly one of the easiest and fastest ways to buy Bitcoin.

Most of the BATMs in South Africa only allow users to buy bitcoin with fiat. You can convert your Rand to BTC using these ATMs. Transaction fees on BTAMs are on the high side with an average fee of 8-14% per transaction.

Also, you can withdraw up to 5000 rands without ID verification. KYC verification will allow you to buy bitcoin worth 100 million SA rands at a go.


  1. Fast and time-saving.
  2. Easy and very efficient.


  1. Transaction fees are usually very high.
  2. They are not available everywhere.

4. Brokers

Brokers are like our conventional retailers that buy goods in bulk and sell to people in bits or units. Bitcoin brokers buy bitcoin from exchanges in large amounts and sell to interested individuals. This method is mostly preferred by people who aren’t technology savvy. All you do is pay an agreed amount and give the broker your wallet address so that he can transfer the agreed bitcoin to you.


  1. The transaction is mostly physical.
  2. Highly efficient.


  1. Brokers set the price and rate.
  2. There’s a high tendency of falling into the hands of scammers.

5. Debit/Credit Cards

The card is the last we will be looking at. It is a widely used way to buy bitcoin. It is available across all countries and regions of the world.

The cards used in this method include debit cards, credit cards, vouchers, and gift cards, etc. They are very fast and hassle-free. Platforms like Binance, Remitano, Huobi, and so many exchanges integrate cards to their platforms. However, without using any other platforms, you can’t buy BTC directly into your wallet with those cards.


  1. Requires no stress.
  2. Accessible to everyone.
  3. It is available on many platforms


  1. High transaction rates.


The adoption of bitcoin is increasing and accessibility to cryptocurrency is on the rise. It is now easier to buy bitcoin, own it, and sell it in South Africa than it was 5 years back. These are the ways you can buy bitcoin presently. You have to select your choice based on safety, ease of use, and transaction fees.

However, make sure you conduct extensive research on any platform you plan to buy bitcoin to avoid falling for scammers.

Disclaimer: This is a sponsored post. Readers should do their own due diligence before taking any actions related to any company, product, or service mentioned in this article. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product, or service mentioned in this post.