March 29, 2024

The use of cryptocurrencies in African countries increased by 1200%

The use of cryptocurrencies in African countries increased by 1200%

Global adoption of cryptocurrency is on the rise.with emerging economies, there has been a significant increase in users of digital currencies.

Africa is also striving to keep up with this pace, showing more than 1200% growth over the past 12 months.

According to a recent study by one of the leadingblockchain analytics platforms Chainalysis, African countries such as Kenya, Nigeria, South Africa and Tanzania are in the top 20 countries of the Global Cryptocurrency Adoption Index.

The use of cryptocurrencies in African countries increased by 1200%

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The need for remittances and the use of digital assets as a hedge against rising inflation have played an important role in the accelerating adoption of crypto assets in this region.

"One of the important trends in Africa over the past year has been continued growthP2P Crypto Exchanges: Why Are P2P Platforms So Popular in Africa?

One of the reasons is that some countries, such as Nigeria and Kenya, have made it difficult for customers to send money to cryptocurrency businesses from their bank accounts by passing laws or simply advising banks not to allow such transfers.", - noted in Chainalysis.

The latest research report from Crypto.com also saw a significant jump in the total number of cryptocurrency users in the first half of 2021 around the world. In June 2021, their number exceeded 220 million.

Global Cryptocurrency Acceptance IndexChainalysis shows Kenya is among the top 5 countries for digital asset adoption. Nigeria ranked 6th, South Africa, Ghana and Tanzania ranked 16th, 17th and 19th. Vietnam topped the list of Global Crypto Adoption Index.

Where is it more profitable to buy cryptocurrency? TOP-5 exchanges

For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposits and withdrawals of funds inrubles, hryvnias, dollars and euros.

The reliability of the site is primarily determinedtrading volume and number of users. By all key metrics, the largest cryptocurrency exchange in the world is Binance. Binance is also the most popular crypto exchange in Russia and the CIS, since it has the largest cash turnover and supports transfers in rubles from bank cardsVisa / MasterCardand payment systemsQIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

Rating of cryptocurrency exchanges:

# Exchange: Website: Rating:
1 Binance (Editor's Choice) https://binance.com 9.7
2 Huobi https://huobi.com 7.4
3 Exmo https://exmo.me 6.9
4 OKEx https://okex.com 6.5
5 Bybit https://bybit.com 6.3

The criteria by which the rating is set in our rating of crypto-exchanges:

  • Work reliability&#8212; stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
  • Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
  • Additional features and services&#8212; futures, options, staking, NFT marketplace.
  • Feedback and support– we analyze user reviews and the quality of technical support.
  • Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
  • final grade– the average number of points for all indicators determines the place in the ranking.

The use of cryptocurrencies in African countries increased by 1200%

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