Africa Leading Retail-Sized Bitcoin Payments Suggests Increasing Adoption

The global bitcoin and cryptocurrency market is growing every day and Africa is not an exception to this. Although Africa is the smallest cryptocurrency economy by continent, it is the most dynamic. It has grown massively, receiving over $105.6 billion from July 2020 to mid-2021. In fact, it ranks as the third fastest-growing bitcoin and cryptocurrency economy in the world per Chainalysis. What’s more, Nigeria, South Africa, and Kenya all rank in their 2021 Top 20 Global Crypto Adoption Index.

Nigeria is the biggest bitcoin and cryptocurrency market in Africa with first-quarter trading volume amounting to $99 million. Kenya and Ghana come second and third with $34.8 million and $27.4 million respectively. South Africa trails the four. This signifies that the continent has some of the highest grassroots adoption in the world.



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