Dec 18, · Paxful is the largest platform for P2P trade in Africa and overtook LocalBitcoins in June this year to be the Largest P2P bitcoin marketplace in the world, controlling 52% of the market share. Dec 17, · Only the U.S. exchanged more bitcoin – , BTC. With trades of $ million or 5, BTC, Kenya comes on as the world’s eighth most active bitcoin market and Africa’s second-biggest. Dec 19, · Nigeria continues to record massive Bitcoin interest as recent data shows the country is the world’s second-larget BTC P2P market after the United States. Nigeria is the world’s second-largest Bitcoin peer-to-peer market, according to recent information curated from .
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African Business Central journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. Bitcoin: Who wins? Sign up for email updates Email Address: subscribers. The increased awareness and availability of easy-to-use bitcoin platforms to Nigerians have largely increased bitcoin liquidity in the country, therefore solving the first problem hindering adoption.
Nigerians now have several formal and semiformal bitcoin platforms to use, ranging from international platforms including Paxful, Binance, and Luno, and local ones such as Quidax, Busha, and BuyCoins. However, long-term watchers say most trading in the country is done on informal channels such as Telegram, WhatsApp, and WeChat. I think this shift was inevitable, and it is not a temporary pandemic boost.
While in the past, the value has increased like this only to later drop drastically in a few weeks, some analysts say this increase may continue into as it appears it is due to the growing interest of institutional investors in the cryptocurrency.