Africa sees a significant rise in crypto adoption

Global cryptocurrency adoption is on the rise. Emerging economies across Asia have seen a significant jump in the overall users of digital currencies over the last few months. But, the content of Africa is becoming an exciting and dynamic crypto market due to more than 1,200% growth in the last 12 months. Cryptocurrency regulations continue to remain in a grey area in most parts of the world. 

Kenya, Nigeria, South Africa, and Tanzania are among the top countries in crypto adoption. 

According to a recent research report published by Chainalysis, one of the leading blockchain data platforms, African countries like Kenya, Nigeria, South Africa, and Tanzania are ranked among the top 20 of the company’s Global Cryptocurrency Adoption Index. Peer-to-peer platforms, the need for remittances, and the use of digital assets as a hedge against rising inflation have played an important role in the growing adoption of cryptocurrency assets in the region. P2P crypto exchanges over the last year have grown significantly in Africa. 

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