Is Africa the leader in Bitcoin transactions?

Everyone knows that there are seven continents in the world. If you ask which of these seven continents is the poorest, it is estimated that many people will not hesitate to say Africa. This on the contrary means that Africa has huge potential and is a veritable continent of development. Last month, International Data Corporation discovered that Africa is the target market for many large and top companies in the blockchain industry, and even Twitter CEO Jack Dorsey said: “Bitcoin’s The future will be defined by Africa. “

With Africa’s transaction volume on the two major Bitcoin P2P platforms soaring, this continent has begun to take its place in the brewing of the fourth currency revolution.

Last week, Bitcoin’s transaction volume in Sub-Saharan Africa (SSA) exceeded $ 13 million, a record high. The new record makes Africa the second largest continent in terms of bitcoin trading volume, overtaking Vietnam, America and Latin America. Now, the continent is only behind North America. In the past week, North America’s bitcoin trading volume on the two major P2P trading platforms exceeded 23 million USD.

African bitcoin trading hits record high

After a period of stagnation in 2018 and 2019, Bitcoin’s overall purchases also decreased due to price corrections. In 2020, Bitcoin finally has the opportunity to re-accumulate-and Africa is in a leading position.

In the past week, bitcoin transactions in sub-Saharan Africa have increased by 12% to $ 11.7 million. At the same time, Latin America, which had the second largest trading volume, is in a state of slowing growth, from US $ 13.5 million per week to US $ 11.1 million per week.

Therefore, according to the data from the analysis website UsefulTulips, Sub-Saharan Africa has become the second largest trading area in the Bitcoin P2P trading market.

The largest contributor to Africa ’s Bitcoin P2P transactions is Nigeria, which reached US $ 8.6 million, an increase of 14.6% over the past week. South Africa and Kenya accounted for the second and third places with US $ 1.8 million and US $ 1.625 million, respectively.

In addition to transaction volume, Africa is also one of the more popular areas for Bitcoin education. Nairobi, Johannesburg and Lagos have all set up centers for blockchain projects and education courses.

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