Report: Bitcoin Adoption In Africa Grows 1,200% In One Year
The continent is the third-fastest growing bitcoin economy globally, powered by retail users seeking to save and transfer money.Bitcoin adoption in Africa has skyrocketed over the past year, growing over 1,200%, according to a report by Chainalysis. The increased activity in the region has been fueled by retail investors, who resort to bitcoin every day for savings, remittances, and peer-to-peer (P2P) trading.Artur Schaback, COO and co-founder of P2P exchange Paxful, told Chainalysis that his platform had seen stark growth in African countries, notably 57% in Nigeria and over 300% in....
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A recent report by KuCoin reveals that the number of crypto transactions has increased by 2,670% in some African countries. Cryptocurrency adoption in Africa is on the march, despite socioeconomic factors and headwinds. A positive report by cryptocurrency exchange KuCoin shows that crypto transactions increased by up to 2,670% in 2022.An astonishing growth trend, the steep influx relates to the low values that have been observed during previous periods. The number of crypto transactions in Africa constitutes roughly 2.8% of global volumes.Johnny Lyu, CEO of KuCoin, told Cointelegraph that....
In his Africa crypto market predictions for 2022, Marius Reitz, the general manager for Luno in Africa, has predicted that Kenya will scale up the adoption of cryptocurrencies. To support this assertion, Reitz points to Kenya’s as position as the leader in the world’s peer-to-peer (P2P) traded volumes for the second year running.
Kenya’s Booming Crypto Market
Kenya is set to lead the world’s peer to peer cryptocurrency market for the second consecutive year, Marius Reitz, the general manager (GM) for Luno cryptocurrency exchange in Africa, has....
According to the World Bank’s Global Financial Inclusion Index, Africa has the highest mobile money adoption rate in the world. Worldwide, only 2 percent of the population possesses a mobile money account; in Africa, 12 percent of the population uses mobile money. Africa’s affinity for mobile money is one of the main reasons why many members of the Bitcoin community believe that the region is fertile ground for bitcoin adoption, especially to meet the needs of the large underbanked population that often relies on mobile money to send and receive payments. However, the reality is that....
The number of cryptocurrency users in Africa grew by almost 2,500% between January 2021 and January 2022, while the average number of monthly transactions went up by 1,400%, a new report by Kucoin has said.
Widespread Adoption of Cryptocurrencies
According to a new report by crypto exchange Kucoin, the number of cryptocurrency users in Africa grew by nearly 2,500% between January 2021 and January 2022. During the same period, the average number of monthly transactions also went up by almost 1,400%, the report added.
Although the African continent’s....
With a cryptocurrency ownership rate of 10%, or four million people, South Africa “ranks 18th out of 26 countries for crypto adoption,” the latest Finder’s report has said. The report also noted that South Africa’s proportion of crypto owners holding bitcoin, 52%, is the third highest out of 26 countries. Just Over Half Own BTC According to Finder’s crypto adoption trends report for August 2022, about four million people, or 10% of South Africans, are cryptocurrency holders. With this crypto ownership rate, South Africa is ranked eighteenth out of....