🔎ANALYSIS: Crypto Users Boom in Africa

Transactions rose in 2021, alongside new users 📈

Africans are generally receptive to blockchain technology and cryptocurrencies, with several African states leading the world in terms of per-capita adoption. This trend has been ongoing for several years, and 2021 was by no means an exception.

⚡️ According to a new report by KuCoin, transactions from African users increased by as much as 2,670% in 2021.

⚡️ As noted by CoinTelegraph, more than 88% of these transactions are cross-border transfers.

So what does this mean for Africans?

Tired of the high fees charged for remittance by companies like Western Union, MoneyGram and others — not to mention traditional banks — Africans are turning to crypto to transfer money safely, quickly and cheaply across borders. This serves both personal transfers (like sending money to friends and family) and business exchanges.

With competitive pricing and fee transparency, many see crypto as the best way to transfer funds between parties internationally. And with adoption growing at such high rates, the options available for users are growing just as quickly. Not only is transferring money cheaper with crypto, but it’s also quickly becoming much easier as well.

Cassava Network is working to provide crypto access to everyone across the African continent and to connect them with the rest of the world. With a wallet that makes managing and transferring crypto easy and an ecosystem that rewards users for using the apps they already love, Cassava is Africa’s crypto infrastructure network.

Learn more about Cassava 👇

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