The crypto adoption rate in Africa keeps increasing by the day, mostly amongst African youths who wants a way out of poverty, jobless, and an opportunity to attain financial freedom, using myself and my country Nigeria as an example, the Nigerian youths are tired of waiting on the government to provide jobs for them, so they provide Jobs for themselves through the use of crypto, crypto has changed so many lives and has made a lot of millionaires and billionaires in my country.
Despite the fact the government refuses to see crypto as a way to solve unemployment problems in the country and keep fighting crypto because they don't understand it and can't control it or gain from it for their selfish reasons, the youths and crypto community continue to strive and grow in large numbers, ignoring the fact that the government placed a ban on crypto, crypto usage in the country and ban banks from doing crypto transactions, down to the extent of freezing bank accounts owned by crypto traders, saying that crypto is ruining the economy.
Unknowingly to them, all they have done in this crypto saga is to successful give crypto more PR and help grow the adoption rate of crypto, giving crypto and crypto community more audience, because the more they fight crypto the more people want to know what crypto is about, and when they see the benefits of crypto the become hooked and that another loss on the government side and a plus for the crypto community, I personally I don't keep any money in the bank and all the money I have invested in crypto, in one way of the other, so when I need money I just withdraw from my crypto wallet to do my transaction and pay my bills.
Enough about my country and crypto, let's go back to Africa in general, Cryptocurrency adoption in Africa grew 1200% between July 2020 and June 2021, making it the fastest adoption rate in the world, and it has grown now with 2500% according to a report by KuCoin.
Africa has the highest usage of the Peer-to-Peer (P2P) exchange in the world because that is how we bypass the governments ban on banks from doing crypto transactions and avoid getting our bank accounts frozen, Peer-to-peer refers to the direct exchange of some asset, such as a digital currency, between individual parties without the involvement of a central authority.
And lastly, Africa is adopting cryptocurrency massively just like the rest of the world. Cryptocurrency is an asset that doesn't care where you are in the world, it allows everyone into it because there are no barriers to entry. Crypto is making everyone's dreams come true regardless of location.
THANKS GUYS FOR READING MY POST.
PLEASE FOLLOW ME ON:
Discord: onwugbenuvictor#3447
Twitter: @VictorOnwugbenu
Posted Using LeoFinance Beta