Crypto users in Africa grew by 2,500% in 2021: Report

[DanWalker]

While developed countries fear the explosion of crypto because they think it can affect their economies, small, poor countries choose crypto as a new tool to help them overcome difficulties.
It's gratifying to see that crypto is becoming a tool to help those in need while living in a corrupt and inflationary government.
It is hoped that the increase in the use of cryptocurrencies in Africa does not stop here, it will promote the African economy in particular and the crypto market in general to develop together.

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[Pujangga]

Africa has the second largest population after Asia, especially since most African countries are developing and many achieve economic growth of up to 2 digits per year, the presence of crypto will certainly be easily accepted in Africa because most projects always make top figures so easy to accept.

[Pejoh Asu]

Of course we did not expect that Africa experienced an amazing growth of up to 2500%, maybe the market will skyrocket in 2021 due to the increase in African users, and this proves that crypto deserves to be accepted and legalized globally because it can prove to be useful and improve the economy as happened in Africa. .

[gabbie2010]

Crypto users is growing in leap and bound in Africa I believe this is based on the fact the growing numbers of unemployed youths are diverting their meagre resources to investing and trading cryptocurrencies and unstable local currencies thus those youths felt that adopting cryptos it's a way out of poverty, Binance Nigerian official telegram group alone has more than 68,000 registered members, Localbitcoin had many Nigerian users likewise, other African countries would have some reasonable numbers of users too, this attested to the fact that the growing numbers of crypto users tallied with reference to the OP statistics.

[macson]

Africa is a region which is no stranger to hyperinflation and economic troubles. The zimbabwe dollar was known for hyperinflating, long before venezuela and the bolivar or even argentina had their own inflationary troubles.

I suppose the question now, is whether africa is an exception and outlier. Or whether it embracing cryptocurrencies illustrates for us, the future.

the hyperinflation that occurs in many African countries makes it difficult for many people to buy basic necessities because their currency exchange rates have been destroyed.  but with the emergence of Bitcoin, it all seems to be destroyed, with the extraordinary growth of crypto users, it is appropriate for countries in Africa to immediately make Bitcoin as a legal tender following in the footsteps of el Salvador so that their economy can rise quickly.

[Flexystar]

The what now? 
I don’t believe those figures at all. Africa as far as Northern Africa and Middle Africa is considered they are not at all in the position to accept cryptocurrency’s. The west Africa might have some users getting involved into crypto but not that number of people as to get them hiked by 2500%. That’s just really non sense data. Moreover if it is really that much number then I gotta ask how much they might have invested and how much it affected the market anyways? Are they active yet!
I heard news like Nigeria is accepting bitcoin as legal tender but then again we saw how much Nigerian local currency costs. It’s too diluted and none of use.

[Doan9269]

I don’t believe those figures at all. Africa as far as Northern Africa and Middle Africa is considered they are not at all in the position to accept cryptocurrency’s. The west Africa might have some users getting involved into crypto but not that number of people as to get them hiked by 2500%.

The truth is Africa in general is booming speedily in numbers of cryptocurrency users and activities as of recent, check the ranking online as Nigeria im west Africa is one of the first three countries in the world with highest number of crypto users and first in Africa and no doubt about this.

Nigeria also in west Africa has the highest number of users on Paxful exchange, just to mention one and no doubt about this as well.

I heard news like Nigeria is accepting bitcoin as legal tender

This is absolutely fake as nothing of such ever arises even as at present, the only development its having is in using petroleum refinery waste energy in mining bitcoin and this was an initiative of Exxon Mobil oil and gas company.

[Uang_kartal]

a significant table, I read history about Africa, even countries that have hyperinflation have the right and are interested in using cryptocurrencies, Kucoin may indeed intentionally record the traces of transaction activities that its citizens carry out, perhaps for survey needs, service providers or listing new tokens. considering that there are many types of cryptocurrencies and we can get them for free by the events that are held. Even so, transaction bubbles occur, basically even though African countries say there are few fiat holders, the assets they liquidate flow and produce queues.
The presentation is very significant bro and I'm sure other countries will follow the progress like Africa although slowly and secretly, we gather in the market

[Ahli38]

In almost all developing countries, people's enthusiasm for crypto has increased so rapidly. other examples than in Africa. Also in Asian countries such as Indonesia and Thailand.

But this is good news for crypto longtime players. because the spike in crypto prices is sure to go up quite quickly. bullish trend is felt now.

Especially with the addition of news about the countries of Ukraine and Russia which have started to legalize crypto.

[fullhdpixel]

the hyperinflation that occurs in many African countries makes it difficult for many people to buy basic necessities because their currency exchange rates have been destroyed.  but with the emergence of Bitcoin, it all seems to be destroyed, with the extraordinary growth of crypto users, it is appropriate for countries in Africa to immediately make Bitcoin as a legal tender following in the footsteps of el Salvador so that their economy can rise quickly.

Hyperinflation is one of the thing why crypto users have grown too much in this country. People are finding a way on how to combat the issue and they figured out that crypto can help but apart from that, Africans are intelligent type of people and they have interest in the technology or the internet.

This makes easier for them to understand and embrace cryptocurrencies. Not only that crypto can help in the inflation, it can also give them an extra income if they use it for trading or investing, this can make their life more easier. Let's just hope that good things for the African people can continue and it can be achieved more if their government made crypto a legal tender.

[barbara44]

Hyperinflation is one of the thing why crypto users have grown too much in this country. People are finding a way on how to combat the issue and they figured out that crypto can help but apart from that, Africans are intelligent type of people and they have interest in the technology or the internet.

This makes easier for them to understand and embrace cryptocurrencies. Not only that crypto can help in the inflation, it can also give them an extra income if they use it for trading or investing, this can make their life more easier. Let's just hope that good things for the African people can continue and it can be achieved more if their government made crypto a legal tender.

This was the exact reason why I ended up getting into crypto all those years ago. I believe that there is a good case to be made for all the people that are living in the smaller nations. Like if you are living in the USA then there are places that give you good returns in the stock market or somewhere else, but when you are in a smaller nation, for example like most African nations then you would have to realize that it would be better because it is also protecting against your own fiat as well.

Crypto goes up against dollars, and dollar goes up against your own fiat as well which means you are winning twice in the same time when hyperinflation happens.

[stompix]

The truth is Africa in general is booming speedily in numbers of cryptocurrency users and activities as of recent, check the ranking online as Nigeria im west Africa is one of the first three countries in the world with highest number of crypto users and first in Africa and no doubt about this.

You probably missed this part:

The number of crypto transactions in Africa constitutes roughly 2.8% of global volumes.

Nigeria also in west Africa has the highest number of users on Paxful exchange, just to mention one and no doubt about this as well.

Because it makes no sense in the rest of the world to use paxful?
Since there is no need for people where banking transactions are not restricted of course countries with this kind of problem will top the charts.

The what now? 
I don’t believe those figures at all. Africa as far as Northern Africa and Middle Africa is considered they are not at all in the position to accept cryptocurrency’s. The west Africa might have some users getting involved into crypto but not that number of people as to get them hiked by 2500%. 

There was a joke about Afghanistan's economy growing by 200%, their only goat had triplets.
Same here, it's 2500% but it's still 3% of the world volume, so it was probably something like 0.5-1% before.
Just how electric cars sales scan spike by 200-300% it means little if not compared to overall numbers, which somehow the whole report has managed to avoid, so its a 2500% growth to 10 billions a day to it's a growth to 2500$ from 100$ a day.

[mich]

I think it’s fantastic that so many people on the African continent are taking advantage of the crypto revolution.
In Africa the utilization and just plain access to banks is so low. With crypto the people now have the means to a secure form of storing digital assets.
 I mean look at these numbers of adoption, it just shows how much potential and practical value crypto currencies bring to so many people all over the world.

[19Nov16]

If we see a lot of advertisements and cryptocurrencies projects then most of them are currently based in Africa, there are even some projects that can reach a hard cap with a collection of around $500 million in less than a month, this proves that Africa will continue to grow positively and become a strong community. continue to grow positively.

[Joshapat]

Crypto users is growing in leap and bound in Africa I believe this is based on the fact the growing numbers of unemployed youths are diverting their meagre resources to investing and trading cryptocurrencies and unstable local currencies thus those youths felt that adopting cryptos it's a way out of poverty, Binance Nigerian official telegram group alone has more than 68,000 registered members, Localbitcoin had many Nigerian users likewise, other African countries would have some reasonable numbers of users too, this attested to the fact that the growing numbers of crypto users tallied with reference to the OP statistics.

The campaign to improve welfare from poverty does sound realistic so that many Africans enter cryptocurrencies, some of the top exchanges such as huobi, binance, ftx, mexc and so on are campaigning very massively by presenting local african services so that makes me optimistic that africa will continue to show big surprises in the world. cryptocurrencies.

[LUCKMCFLY]

In almost all developing countries, people's enthusiasm for crypto has increased so rapidly. other examples than in Africa. Also in Asian countries such as Indonesia and Thailand.

But this is good news for crypto longtime players. because the spike in crypto prices is sure to go up quite quickly. bullish trend is felt now.

Especially with the addition of news about the countries of Ukraine and Russia which have started to legalize crypto.

Well without a doubt, the deflationary economy of BTC totally helps countries with inflation or high levels of inflation, for those who have particular economies this would be the greatest of all the best solutions, in terms of gambling it also has its great advantages because by doing betting on games and sports betting have endless possibilities to increase your money. Not only in AFRICA but throughout the world, one of the advantages that BTC has is that it can be the best method for international remittances, at least El Salvador understood it that way and that is why that country is developing, so much so that it has the president greater acceptance of his government.

[Ahli38]

In almost all developing countries, people's enthusiasm for crypto has increased so rapidly. other examples than in Africa. Also in Asian countries such as Indonesia and Thailand.

But this is good news for crypto longtime players. because the spike in crypto prices is sure to go up quite quickly. bullish trend is felt now.

Especially with the addition of news about the countries of Ukraine and Russia which have started to legalize crypto.

Well without a doubt, the deflationary economy of BTC totally helps countries with inflation or high levels of inflation, for those who have particular economies this would be the greatest of all the best solutions, in terms of gambling it also has its great advantages because by doing betting on games and sports betting have endless possibilities to increase your money. Not only in AFRICA but throughout the world, one of the advantages that BTC has is that it can be the best method for international remittances, at least El Salvador understood it that way and that is why that country is developing, so much so that it has the president greater acceptance of his government.

After El Salvador Became the First Country to Officially Accept Bitcoin Payments. it even made the country of El Salvador the hottest country in the crypto world and made it famous.

while opening the eyes of other countries to the great potential of bitcoin. so now many countries are starting to follow El Salvador's great lead.

El Salvador is originally a not-so-famous country. but now it is a country that is known to almost everyone in the crypto business.
and africa will catch up i guess

[MinMan]

The situation of things in Africa have made the youths scrambling for whatever opportunity that they would see. Most of the youths in Africa have seen cryptocurrency as an avenue for them to generate income online.

While it may not work for some of them, it has also been a life changing experience for a lot of people in the countries in Africa, who are now adopting cryptocurrency in a large number. Cryptocurrency exchanges such as Paxful.com has experienced a huge increase on the number of users on their platforms as of recent, and the number keeps on increasing every year.

[fullhdpixel]

After El Salvador Became the First Country to Officially Accept Bitcoin Payments. it even made the country of El Salvador the hottest country in the crypto world and made it famous.

while opening the eyes of other countries to the great potential of bitcoin. so now many countries are starting to follow El Salvador's great lead.

El Salvador is originally a not-so-famous country. but now it is a country that is known to almost everyone in the crypto business.
and africa will catch up i guess

Let us all hope that Africa does the same, because from what I have been hearing, their leaders are not so in good terms with cryptocurrency. Nigeria banned cryptocurrency as of recent, although I don’t know whether they’ still maintained that or they have lifted the ban. Although that never stopped its citizens from continuing to invest and trade cryptocurrencies online.

When they decided to ban cryptocurrency the citizens all moved over to making use of peer to peer websites. That was what led to some of the cryptocurrency exchanges gaining more users on their platforms. Binance.com peer to peer has continued to see huge engagements in the country. As for centralized exchanges, it hasn’t been the same.

[poonam8288]

This information is not limited to Africa. He has begun to understand the importance of this crypto in recent years, so he has adopted it. But in a few years we will all see the whole world adopt this. Because crypto is the future of the next generation. This technology could lead to future inventions that would change the face of the world. So I am not surprised that in Africa alone the adoption has increased twenty one hundred% in 2021, you will see this with many other countries in the near future.