Africa has left behind the North America in Bitcoin Peer-to-Peer trading volume. African trader has transacted BTC of worth $18,073,777 in the last seven days according to the UsefulTips, an analytics platform.
Bitcoin adoption is increasing very rapidly and now the continents are in race to beat each other. Investor of developed country often disagree and argue that bitcoin can’t be used as currency. But the people of Under developed country who often face problem due to government’s policies see crypto as a savior. For example, the people of Afghanistan under the Taliban regime facing financial sector shortage can use crypto as a way out.
Chainalysis has published a report which shows how the Bitcoin is being adopted by the ordinary people of developing countries and not the one who see the crypto market as money making opportunity. Kenya, Nigeria, and Togo are African countries included in the Top countries adopting Bitcoin. The ranking is based on the country’s on-chain received and transferred value and P2P trading volume to their purchasing power parity (PPP) per capita.
Africa’s Bitcoin Peer-to-Peer trading Volume
UsefulTulips, an analytics platform, has shared a data which shows that African continent has become the largest volume of Bitcoin Peer-to-Peer trading in the world. The analysis was done on the past seven days data which shows that Africa traded $18,073,777 worth of bitcoin Peer-to-Peer trading.
North America was leading previously and has the record of trading $17,540,134 worth of Bitcoin Peer-to-Peer trading volume in 7 days. The increasing influence of crypto market can change a lot of restriction for the under developed countries. For such interesting content please click here.