The adoption of Bitcoin in Africa has swelled immensely over the past year, making it the third fastest-growing Bitcoin economy globally.
BTC adoption up by 1200% in Africa
A report produced by Chainalysis estimated the growth to be over 1,200%, which means there has been an increase in Bitcoin activities carried out by retail investors who save, remit, and exchange digital assets using different P2P platforms.
This was confirmed by the co-founder of Paxful Artur Schaback, who said the crypto app has witnessed a surge in activities from African nations, especially Nigeria and Kenya, with a 57% and 300% increase respectively in the previous year.
Currency devaluation amidst other reasons driving adoption
According to him, the banking restrictions and hostile crypto regulations on the continent have created an enabling ground for the mass adoption of these digital assets thereby making it the fastest-growing P2P Bitcoin hub globally.
A 2019 Brooklyn Institute study found out that
Źródło: https://cryptoslate.com/data-bitcoin-btc-adoption-grows-1200-in-africa/
