Launched by a John Mensah from Ghana, Africoin aims to be Africa’s decentralized digital currency allowing for instantaneous transactions and borderless transfer-of-ownership virtually.

Like bitcoin, Africoin is an internet-based digital currency acting as a medium of exchange and measure of value for goods and services even though it is not a legal tender of any country; replacing or complementing physical  bank notes or coins in the near future.

Whether this is another scam or not, Africoin is promising to be a real digital currency which users can use to pay for major Airline tickets, book hotels, pay for Cable TVs (DSTV, GOTV, MyTV Africa etc) after its official launch in February 2017.

The team is also saying that you can also use it to pay for movie tickets, shop online for items like mobile phones, computers, clothing, furniture etc. Though there is not such deal, Africoin says major tech vendors like Microsoft, Dell, Amazon etc will be accepting Africoin as a payment option for their goods and services after its February launch.
Africoin AFC says it started few months ago with an opening price of $0.001 and is now trading at $0.02 compared to the bitcoin price of $0.01 in February 2010 and today’s $750+ price. Africoin is now calling Africans to buy and hold thousand units of Africoin AFC as a sure way to get out of poverty and become a multi-millionaire over a period of 6months or a year.

“To create wealth, buy at least 1,000 AFC and hold for a while (6-12months), for none traders,” the firm announced. “For speculators or investors, buy hundreds of thousands of AFC and sell step-wisely as the price increases. At the pre-launch stage, you can purchase AFC blocks at almost the opening price. AFC blocks are in multiple of 100,000 coins (units).”

Africoin says its currently traded in several exchanges including Africoin Exchange and there is a growing interest in it. If its a scam, it will come to its knees soon and users would soon demand to know the ownership structure of the organization behind the currency.