Nigeria, the biggest source of Bitcoin trading volume in Africa, is apparently one of the fastest-growing crypto markets in the world, according to a new report.
According to a new study by major crypto wallet Blockchain.com, Nigeria has seen the largest influx of activity on its wallet app since April 2020.Published on Aug. 5, the report says that Nigeria has been the best performing country on its platform over the past three months.
The report notes a 60% increase in usage of Blockchain.com's web wallet in the region since April.
In the study, Blockchain.com also pointed out that Nigeria has been the top country searching for Bitcoin on Google.
Top five countries by Bitcoin searches on Google worldwide.
While Nigeria is the best performing country on Blockchain.com in recent months, Peru has been the most active country over the course of July.
Top performing countries on Blockchain.com in July over June.
This news is in line with recent reports concerning the overall rise of crypto usage and trading in Africa.
"In terms of the crypto scene and everything, things are growing very rapidly, really across the continent, but specifically in Nigeria, South Africa, Ghana, and Kenya," the firm's CEO Chris Mauric said.
In April 2020, Nigeria became the eighth country in Africa to host a Bitcoin ATM despite the apparent legal uncertainty in the region.
Nigerian Crypto Activity Has Been On the Rise Since April
Published on Aug 6, 2020
by Cointele | Published on Coinage
Study: The majority of Americans don't understand how fractional banking works
Indicate that a significant number of Americans are not aware of how fractional reserve banking works.
Finance Redefined: Uniswap's bang ends in whimper, Sept. 16-23
The biggest event of this week was definitely the sudden release of Uniswap's token, UNI, which enriched many DeFi users by at least $1200 each.
Israeli regulators propose Bitcoin be taxed as a currency, not an asset
Four members of the Israeli legislature are recommending that digital currencies be treated more like fiat for tax purposes.
Coinbase wallet users targeted by new Android malware
This alien doesn't care about taking over the Earth, but it may steal your Bitcoins and dollars.