Top five countries with the most Bitcoin users in Africa.
The crypto market has seen both positive and negative news lately. Still, the number of Bitcoin users in the world has skyrocketed by over 880% in the past year. People exchange cryptocurrencies for goods daily. Unsurprisingly, some of the countries with the largest number of Bitcoin users are in Africa.
Many Africans use Bitcoin or cryptocurrencies in general to avoid the usual hassle of traditional banking systems.
On ValorExchange, you can buy products, make borderless transfers, pay your taxes, etc., all with crypto because we give you access to the most publicly traded cryptocurrencies in the world.
So, what are the top crypto countries in Africa and why are cryptocurrency i.e Bitcoin users growing so fast? Let’s go into it.
South Africa is the first on this list and one of the biggest in terms of countries with the highest percentages of Bitcoin users in the world.
According to Bitcoin.com, over 56% of South Africans claim to own Bitcoin. The total number of crypto users in the country is around 11.3%, about 4.2 million South Africans.
In 2021, the central bank of Nigeria issued a ban on crypto-related activities in the country.
This should have been the end of the cryptocurrency journey for many, but Nigeria is one of the top crypto countries.
Nigerians exchange crypto daily, and according to Business Insider, there are over 13 million crypto users in Nigeria. You can exchange your currency for Bitcoin and start making national and international payments on ValorExchange. Also, when you use ValorExchange, there is no limit to what you can do with your account. You can deposit and withdraw as much as you want from your account.
According to Quartz Africa, Bitcoin ownership in Kenya is above the global average, and Over 54.7% of Kenyans say they own Bitcoin.
This equates to around 4.8 million people that exchange crypto or use Bitcoin for their businesses and personal lives. This is why Kenya is one of the countries with the highest number of bitcoin users.
Ghana is the fourth top crypto country on this list, with over 3.1 million crypto users, equating to 17.3% of the country’s population owning a cryptocurrency, i.e. Bitcoin, Ether, etc. There are more crypto users in Ghana than there are people in most cities combined.
Although Togo has a population of nearly 9 million people, it is still one of the leading countries in crypto mass adoption. In a survey by Chainalysis, the Global crypto adoption index has ranked Togo as number nine in the world in terms of peer-to-peer exchanges. There were over 154 countries that were included in the survey.
Bitcoin is a popularly used cryptocurrency in the country.
Why is the number of Bitcoin users in the world increasing?
Cryptocurrencies have offered people more flexibility from the start. Satoshi Nakamoto created Bitcoin to give people a choice and better access to their finances and what they can do with them. If it surprises you that some of the countries with the highest bitcoin users are in Africa, it shouldn’t.
Cryptocurrencies like Bitcoin are a global tool, and many of the top crypto countries are part of the growing community that will take notice. You can use Bitcoin or Exchange crypto for anything of value on ValorExchange. Join the growing community of Bitcoin users worldwide and enjoy easier transactions, payments, etc. You can start your journey with just $1.
More countries are adopting and using cryptocurrencies every day. The total number of Bitcoin users in the world grows daily.
Many people use bitcoin and other cryptocurrencies for remittances, stores of value, payments and lots more with their accounts on ValorExchange.
This is the beginning of a more decentralised future where people would have more control, access and ease with their resources. If you want to know where to use your Bitcoin, then you can see our article on places that accept crypto for payment.
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