Global Economic Intersection
Advertisement
  • Home
  • Economics
  • Finance
  • Politics
  • Investments
    • Invest in Amazon $250
  • Cryptocurrency
    • Best Bitcoin Accounts
    • Bitcoin Robot
      • Quantum AI
      • Bitcoin Era
      • Bitcoin Aussie System
      • Bitcoin Profit
      • Bitcoin Code
      • eKrona Cryptocurrency
      • Bitcoin Up
      • Bitcoin Prime
      • Yuan Pay Group
      • Immediate Profit
      • BitQH
      • Bitcoin Loophole
      • Crypto Boom
      • Bitcoin Treasure
      • Bitcoin Lucro
      • Bitcoin System
      • Oil Profit
      • The News Spy
      • Bitcoin Buyer
      • Bitcoin Inform
      • Immediate Edge
      • Bitcoin Evolution
      • Cryptohopper
      • Ethereum Trader
      • BitQL
      • Quantum Code
      • Bitcoin Revolution
      • British Trade Platform
      • British Bitcoin Profit
    • Bitcoin Reddit
    • Celebrities
      • Dr. Chris Brown Bitcoin
      • Teeka Tiwari Bitcoin
      • Russell Brand Bitcoin
      • Holly Willoughby Bitcoin
No Result
View All Result
  • Home
  • Economics
  • Finance
  • Politics
  • Investments
    • Invest in Amazon $250
  • Cryptocurrency
    • Best Bitcoin Accounts
    • Bitcoin Robot
      • Quantum AI
      • Bitcoin Era
      • Bitcoin Aussie System
      • Bitcoin Profit
      • Bitcoin Code
      • eKrona Cryptocurrency
      • Bitcoin Up
      • Bitcoin Prime
      • Yuan Pay Group
      • Immediate Profit
      • BitQH
      • Bitcoin Loophole
      • Crypto Boom
      • Bitcoin Treasure
      • Bitcoin Lucro
      • Bitcoin System
      • Oil Profit
      • The News Spy
      • Bitcoin Buyer
      • Bitcoin Inform
      • Immediate Edge
      • Bitcoin Evolution
      • Cryptohopper
      • Ethereum Trader
      • BitQL
      • Quantum Code
      • Bitcoin Revolution
      • British Trade Platform
      • British Bitcoin Profit
    • Bitcoin Reddit
    • Celebrities
      • Dr. Chris Brown Bitcoin
      • Teeka Tiwari Bitcoin
      • Russell Brand Bitcoin
      • Holly Willoughby Bitcoin
No Result
View All Result
Global Economic Intersection
No Result
View All Result
Home Business

Crypto Adoption In Africa Exploded By 2,500% In 2021

John Wanguba by John Wanguba
March 25, 2022
in Business
0
0
SHARES
76
VIEWS
Share on FacebookShare on Twitter

The latest data analysis confirmed that digital assets and crypto adoption rates in Africa grew by more than 2,500% in 2021. This growth suggests that technological innovations are gradually making their way into the lives of many Africans.

 crypto africa

According to a recent KuCoin report, the number of crypto transactions has increased by 2,670% in 2022 across African countries, despite deteriorating social-economic factors arising as a result of the Covid-19 pandemic.

The 2021 astonishing growth trends and steep influx relate to how values were analyzed during previous periods. In that context, the number of crypto transactions in Africa constitutes roughly 2.8% of global volumes.

While commenting about the crypto performance result in Africa, Johny Lyu, CEO of KuCoin, said:

“The adoption of digital assets in Africa will continue to grow exponentially. African countries have the highest crypto adoption rates in the world. They have even outperformed the biggest regions such as the United States, Europe, and Asia.”

Nourou, the founder of Bitcoin Senegal, maintained that the thousand percent growth rates for Bitcoin (BTC) adoption would continue in the coming years, adding:

 “Take a look at the way in which cars, mobile phones, and consumer electronics took off on the continent. Africa is a continent where lightning-fast progression and adoption is common.”

KuCoin cites that more than 88.5% of cryptocurrency transactions made by African countries are cross-border transfers. Notably, low fees mean that users transferred less than 0.01% of the overall amount in cryptocurrencies.

Buy Crypto Now

Africa Continuously Adopting Cryptos

Apart from high inflation levels and rapidly increasing use cases of smartphones that allow anyone to own a mobile bank, Africa has a young and digitally native population familiar with digital currencies. Moreover, Africa is a perfect testing ground for the problem that digital asset tries to solve.

Nonetheless, Lyu noted inconsistent growth levels in many African countries, asserting:

 “That rate of growth can depend on both local policy-makers and separate officials’ stances on cryptocurrencies. Still, I believe that a promising future for digital money in Africa is inevitable.”

Central and West Africa are perfect examples of regions with inconsistent growth, with BTC adoption increasing against a backdrop of mistrust and discomfort of using the local currency, as highlighted by the CFA. KuCoin has previously analyzed the state of crypto adoption in Africa, noting that economic opportunities offered by the region are few.

In the same context, according to Lyu, the combination of rapidly growing inflation, high rates of unemployment, poor access to bank services, and high fees for remittance services have resulted in the accelerated adoption of digital assets in Africa, adding:

“Financial problems the region is experiencing are forcing people to look for new instruments and technologies that can give them some of the economic freedom they currently lack.”

Nevertheless, Africa poses a lot of added advantages in the long term. These advantages can contribute to the widespread use of digital assets among locals. The region hosts over 40% of median age people between 19 and 40 years old in urban centers.

“Another positive phenomenon is the growing technological awareness of the local population, with many young people exploring programming and internet technologies.”

Tags: AfricaBitcoinBitcoin adoptionBTCcryptocrypto adoptioncrypto transactionscryptocurrencyKuCoin
Previous Post

GameStop Taps Ethereum Loopring L2 To Unveil Beta NFT Marketplace

Next Post

Bitcoin Developers ‘Thrash’ Fake Satoshi

Related Posts

Lebron James And Several Other Celebs ‘Effectively Wiped Out’ As Fitness App Tonal Loses 90% Value
Business

Lebron James And Several Other Celebs ‘Effectively Wiped Out’ As Fitness App Tonal Loses 90% Value

by John Wanguba
March 28, 2023
Petrobras Ready To Remain As The Last Oil Producer Standing
Business

Petrobras Ready To Remain As The Last Oil Producer Standing

by John Wanguba
March 28, 2023
What Is Andrew Tate’s Crypto Investment Portfolio?
Business

What Is Andrew Tate’s Crypto Investment Portfolio?

by John Wanguba
March 27, 2023
US Banks: The Good, The Bad, And The Ugly
Business

US Banks: The Good, The Bad, And The Ugly

by John Wanguba
March 27, 2023
8 Ways AV Technology Helps You Build A Successful Business
Business

8 Ways AV Technology Helps You Build A Successful Business

by John Wanguba
March 27, 2023
Next Post
Bitcoin Developers ‘Thrash’ Fake Satoshi

Bitcoin Developers ‘Thrash’ Fake Satoshi

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Browse by Category

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized

Browse by Tags

adoption altcoins bank banking banks Binance Bitcoin Bitcoin adoption Bitcoin market Bitcoin mining blockchain BTC business China crypto crypto adoption cryptocurrency crypto exchange crypto market crypto regulation decentralized finance DeFi Elon Musk ETH Ethereum Europe FTX inflation investment market analysis Metaverse mining NFT nonfungible tokens oil market price analysis recession regulation Russia stock market technology Tesla the UK the US Twitter

Archives

  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • August 2010
  • August 2009

Categories

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized
Global Economic Intersection

After nearly 11 years of 24/7/365 operation, Global Economic Intersection co-founders Steven Hansen and John Lounsbury are retiring. The new owner, a global media company in London, is in the process of completing the set-up of Global Economic Intersection files in their system and publishing platform. The official website ownership transfer took place on 24 August.

Categories

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized

Recent Posts

  • Lebron James And Several Other Celebs ‘Effectively Wiped Out’ As Fitness App Tonal Loses 90% Value
  • Petrobras Ready To Remain As The Last Oil Producer Standing
  • What Is The LHINU Crypto And How Does It Work?

© Copyright 2021 EconIntersect - Economic news, analysis and opinion.

No Result
View All Result
  • Home
  • Contact Us
  • Bitcoin Robot
    • Bitcoin Profit
    • Bitcoin Code
    • Quantum AI
    • eKrona Cryptocurrency
    • Bitcoin Up
    • Bitcoin Prime
    • Yuan Pay Group
    • Immediate Profit
    • BitIQ
    • Bitcoin Loophole
    • Crypto Boom
    • Bitcoin Era
    • Bitcoin Treasure
    • Bitcoin Lucro
    • Bitcoin System
    • Oil Profit
    • The News Spy
    • British Bitcoin Profit
    • Bitcoin Trader
  • Bitcoin Reddit

© Copyright 2021 EconIntersect - Economic news, analysis and opinion.

en English
ar Arabicbg Bulgarianda Danishnl Dutchen Englishfi Finnishfr Frenchde Germanel Greekit Italianja Japaneselv Latvianno Norwegianpl Polishpt Portuguesero Romanianes Spanishsv Swedish