Nigeria Leads Sub-Saharan Africa in Cryptocurrency Trading with $60 billion!

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Author: Mustafa Mulla

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Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

Sep 23, 2023 15: 28

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According to a recent report by Chainalysis, sub-Saharan Africa accounts for only 2.3% of the global cryptocurrency trading volume. However, Nigeria is the largest market in the region, with almost $60 billion in trading volume between July 2022 and June 2023. South Africa closely follows, with $20 billion in trading volume. Kenya, Mauritius, and Ghana ranked third, fourth, and fifth, respectively. The report also noted that, due to a lack of reliable financial infrastructure, many people in the region turn to cryptocurrency as an alternative way to store and transfer value.

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