A new report has found almost half of all Bitcoin traded on the P2P exchange Paxful is exchanged for gift cards.
Africa is the second largest continent in the world in terms of both territory and population. There are 55 states located on the continent. Economies in Africa differs from country to country. In Africa, cryptocurrency tends to be sold with a large trade margin which can even reach 100% due to several reasons. Firstly, Bitcoin in Africa is very difficult to mine because of the climate and lack of infrastructure. Also, cryptocurrency is in big demand in Africa as national currencies are vulnerable to hyperinflation. Besides that, since there are only a small number of virtual currency retailers they are able to set high prices. The relative financial stability of digital money and the opportunities for profit make cryptocurrencies very popular in Africa.
Despite facing hot-and-cold rules, growing crypto usage in sub-Saharan Africa is forcing regulators to reconsider the industry.2469
The ease and convenience of services backed with the emerging techs can dramatically improve the financial landscape in Africa.8697
A stablecoin that will be used to pay entrance fees for the golfing tournaments of a Kenyan 'entrepreneurs network’ has started testing under the local regulatory sandbox.4934
African crypto adoption has exploded in 2020, prompting fears of a heavy-handed regulatory response6204
The P2P marketplace continues its push to highlight the benevolence and positive nature of the Bitcoin community.6504
The region's traders are highly aware of scams and avoid them.2967
‘Virtual crypto assets are securities, unless proven otherwise,’ the Nigerian SEC said.7753
Africans are turning to cryptocurrencies to avoid high fees and currency instability, with transfers to and from the continent increasing 55% over the last year.4210
BNB seems to have failed to meet certain standards on Binance's Uganda platform.7613
Crypto is truly a global asset class.3841
Akoin president Jon Karas says Akon’s crypto city could be the proving ground African economies need.9535
The global P2P markets are pumping, with numerous African and Latin American markets touching new all-time highs for volume.4072
Nigeria outperformed the rest of the world by the level of interest in Bitcoin over recent months.10552
In a recent YouTube AMA, Charles Hoskinson gave an update on the promotion of Cardano across the African continent.7660