Nigeria Leads Sub-Saharan Africa in Cryptocurrency Trading with $60 billion!

Creator: Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since a few years. He has earlier buying and selling expertise and has been working within the Fintech trade since 2017.

Sep 23, 2023 15:28

In keeping with a current report by Chainalysis, sub-Saharan Africa accounts for less than 2.3% of the worldwide cryptocurrency buying and selling quantity. Nevertheless, Nigeria is the biggest market within the area, with nearly $60 billion in buying and selling quantity between July 2022 and June 2023. South Africa intently follows, with $20 billion in buying and selling quantity. Kenya, Mauritius, and Ghana ranked third, fourth, and fifth, respectively. The report additionally famous that, attributable to an absence of dependable monetary infrastructure, many individuals within the area flip to cryptocurrency in its place strategy to retailer and switch worth.