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Nigeria, South Africa, and Kenya Lead the Way as Africa’s Most Crypto Nations



Bitcoin continues to hold or maintain a respectable valuation and is currently the brightest of all cryptocurrencies. The world is still going crazy for virtual currencies and Africa, the leapfrog continent, never to be left too far behind, has emerged as a crypto haven. Interestingly, the asset class has penetrated the borders of Africa with some familiar names topping the rank as Africa’s most crypto nations. 

Data from cryptocurrency payment companies and database collectors TripleA, especially at trends of global crypto adoption show that these ten countries listed below are the countries in Africa that have a high level of Bitcoin users or traders (Africa’s most crypto nations). The company collected data from a total of 16 worldwide cryptocurrency reports from a wide number of sources, including the University of Cambridge, Statista, and the Bank of America, to name a few.

  1. Uganda – 984,731
  2. Morocco – 1,151,520
  3. Ghana – 1,391,703
  4. Ethiopia – 1,827,706
  5. DRC – 2,038,909
  6. Tanzania – 2,323,874
  7. Egypt – 2,372,936
  8. Kenya – 6,101,599
  9. South Africa – 7,712,116
  10. Nigeria – 22,223,791

Ghana Ranked 8th in Africa’s Most Crypto Nations Rank

Nigeria remains the undisputed king of crypto in Africa with far and away the highest number of crypto users/holders in all the continent. Nigeria also has the 4th largest amount of crypto users in general on Earth beaten only by Pakistan, India, and the US, which is a plus for Africa.

The most populous country in Africa is followed closely by arguably Africa’s most developed nation, South Africa and thus it is not a surprise that the South African government is set to legalize cryptocurrency use in the country.

Interestingly, Africa’s four powerhouse economies are the four countries with the most crypto holders – Nigeria, SA, Kenya, and Egypt, respectively. They are followed by the emerging economies of Tanzania, and interestingly enough, Ethiopia (which is only recently seeing a technology revolution) and the Democratic Republic of Congo.

The data put Ghana in the eighth position. The giant forces in Africa when it comes to Bitcoin are Nigeria and South Africa, with Kenya and Egypt closely following behind.

If more Ghanaians are to trade in Bitcoin, Ghana has the potential to move up the ladder and challenge South and Nigeria. The data, especially the fact that millions of Africans in their respective countries trade is a sign that Africans are involving themselves in cryptocurrency trading immensely, considering the challenges some of these African

 

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