Cryptocurrency usage in Africa is on the increase daily as more and more Africans are realizing the value and benefits of cryptocurrency and due to the need of a fast, reliable, accessible and serviceable
means of money transfer and high inflation of fiat currency.

Cryptocurrency adoption in Africa as a continent is very promising because most African countries share a lot of similarities like capital control issues and scarcity of banking infrastructure. https://guardian.ng/technology/tech/evolution-of-cryptocurrency-in-africa/
Cryptocurrency has impacted the African economy in a lot of positive ways such as:

* Growth of business for entrepreneurs as it is easy to transact with American, European, and Asia countries with a low transaction fee
* It has helped in creating employment through mining, blockchain development.
* Cryptocurrency has helped mitigate the effect of scarcity of banking structure. Cryptocurrency transactions can be done anywhere as long as there is an internet connection. Some see cryptocurrencies as vital protection from government repression.

However, the usability of cryptocurrency in Africa is facing a lot of challenges due to government policies because they can't regulate it. In February 2021, the Nigerian government place a ban on cryptocurrency transactions through licensed banks. In July, it launched a scheme for a new government-controlled digital currency – hoping to rival the already established cryptos. Countries like Ghana and South Africa are coming up with policies to regulate cryptocurrency. All these policies stem from the criticism mostly by government  and  authorities as a means of laundering money and financial crime and also ‬for its instability.

Another issue is the volatility of crypto, cryptocurrency is subject to unpredictable changes in the market, For businesses, a 3 percent drop in bitcoin’s value can be big enough to generate a massive loss, and that’s a risk business owners are not willing to take. https://cioafrica.co/the-truth-about-crypto-usability-in-nigeria/