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In response to a post by Nigerian Certified Investment Trader Olumide Adesina regarding the continent's high rates of bitcoin transactions, Paxful's CEO and co-founder Ray Youssef tweeted about the platform.
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Youseff thought back on how seven years earlier, when Africa adopted cryptocurrency, people had mocked at it.
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He said that rather than just being an adoption, the current level of crypto trading in Africa is a "civilization-scale revolution":
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Recent findings by the US body UNCTAD indicate that cryptocurrencies are rapidly gaining acceptance in African nations.
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According to projections, Kenya will have 8.5% of the world's cryptocurrency users in 2022, South Africa 7.1%, and Nigeria 6.3%.
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Intriguingly, the Central African Republic has recognised bitcoin as legal cash. As a result, South African forex brokers increased bitcoin prices in line with the general market trend.
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According to Chainalysis, a blockchain forensics company, the cryptocurrency industry in Africa has grown significantly by over 1200%.
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From 2020 to 2021, "the third fastest-growing cryptocurrency economy" will be: Sub-Saharan Africa has extraordinary uptake and usage of cryptocurrencies, according to Chainalysis's statistics.
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possessing the largest percentage (80%) of retail crypto payments worth under 1,000 in the entire world.
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In a tweet, Olumide Adesina discussed the high records of cryptocurrency trade in Africa.
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