The Role of Africa in Cryptocurrency Adoption

Africa is the second largest continent in terms of population. According to Worldometer, its population is about 1.34 billion. In the Cryptocurrency space, numbers play an important role in determining a lot of data that is essential for the survival of a project. According to available data, over $105 billion in transactions were sent into Africa in 2021. When the present total market capitalization of about $1.8 trillion is considered, we can see that Africa has been positioned as an important continent in the crypto space. Between June 2020 and June 2021, the rate of Cryptocurrency adoption in Africa has grown by 12times. This is a big growth that has a great impact on the market. Some of the roles that Africa can provide in crypto adoption include: Avenue for growth of Cryptocurrency Laboratories. Avenue for the adoption of projects with real-life application Avenue to source for experts Avenue for growth of Cryptocurrency Laboratories Cryptocurrency and Blockchain laboratories has served as an avenue where research and new developmental ideas are hatched. Top technology giant companies like Binance, CV exchange in Switzerland all have blockchains laboratories in Africa. One of the reasons for this, is the rapid growth of market in recent times. Three African countries Nigeria, Kenya, and South Africa are among the top six countries in Crypto adoption in the world. This is due to the nature of Africans to adopt projects an...