Africa was among the leaders in terms of the total volume of cryptocurrency purchases.
During the period of positive movement of the bitcoin rate, the volume of purchases of cryptocurrency in Africa has shown an increase. Amid the growing interest of residents of the continent in digital assets, large investors began to invest in local startups. For example, Yellow Card, a cryptocurrency buying solution provider supported by popular digital asset exchange Binance, recently managed to attract $ 1.5 million in investments from companies such as Polychain, Andreessen Horowitz and Celo, Forbes reports.
The startup team, in a media interview, talked about “extreme growth rates.” According to them, young Africans are showing particular attention to cryptocurrency. Yellow Card representatives believe bitcoin will unite African people.
Bitcoin will unite Africa in a way that telephones, the Internet, and other technologies never could. ⚡🌍
— Yellow Card (@yellowcardio) August 13, 2020
The change in Bitcoin volume for local fiat in African countries is different:
The most active demand for BTC is growing in South Africa and Kenya. The situation in Nigeria is different from other countries. The demand for bitcoin in the jurisdiction went into positive motion after a serious decline in late 2019 – early 2020.
Meanwhile, many other countries around the world are also seeing an increase in BTC purchases against fiat.
Citizens of South American countries, including Argentina and Chile, are paying particular attention to cryptocurrency.
In the US, you can also see an increase in interest in bitcoin after a brief decline in the volume of purchases of cryptocurrency for US dollars. The positive movement began in May 2020 – against the backdrop of the BTC halving.