Due to significant growth of more than 1,200 percent in the previous 12 months, Africa remains an attractive and vibrant crypto industry.
The global adoption of cryptocurrencies is increasing. Over the last several months, there has been a considerable increase in the general use of digital currencies across Asia’s emerging nations. However, thanks to a 1,200 percent increase in the last 12 months, Africa’s content is becoming a fascinating and vibrant crypto market. Unfortunately, in most regions of the world, cryptocurrency legislation is still ambiguous.
Kenya, Nigeria, South Africa, and Tanzania are among the countries with the highest levels of cryptocurrency adoption.
According to a recent research report issued by one of the leading blockchain data platforms, African countries such as Kenya, Nigeria, South Africa, and Tanzania are listed among the top 20 of Chainalysis’ Global Cryptocurrency Adoption Index. The growing use of cryptocurrency assets in the region has been fueled by peer-to-peer platforms, the necessity for remittances, and the usage of digital assets as a hedge against rising inflation. In Africa, peer-to-peer cryptocurrency exchanges have risen dramatically in the last year.
During the first half of 2021, the overall number of global cryptocurrency users increased.
Crypto.com’s most recent study report revealed a huge increase in the overall number of worldwide cryptocurrency users in the first half of 2021. Furthermore, in June 2021, the number of international cryptocurrency users surpassed 220 million. Kenya is one of the top five countries in terms of cryptocurrency adoption, according to Chainalysis’ Global Crypto Adoption Index. Nigeria was placed sixth, while South Africa, Ghana, and Tanzania were sixteenth, seventeenth, and nineteenth, respectively. The Global Crypto Adoption Index, on the other hand, ranked Vietnam first.