Recently, the popular cryptocurrency exchange KuCoin published its financial report for 2021. The document aroused great interest among analysts and the media, who, among other things, drew attention to a significant increase in crypto transactions from African users.
The report of the exchange indicates that over the past year, traders from some countries of Africa have made a huge number of transactions related to digital assets. If we rely on the figures written in the document, then the number of transactions in 2021 increased by almost 2500% compared to 2020.
The report, which caused great interest in the press, has already been commented on by Johnny Liu, CEO of KuCoin.
“The adoption of digital assets in African countries will accelerate exponentially every day. Our report is irrefutable proof of this. Today, Africa is significantly ahead of Europe and the United States in terms of the rate of implementation of crypto-technologies, ”the man said in an interview with business publication Cointelegraph.
Trending: Salvadorans are against buying bitcoins at the expense of the budget
The significant increase in the number of crypto transactions was also commented on by the founder of the Bitcoin Senegal platform, known under the pseudonym "Nuru".
“Remember and analyze how cars and mobile phones began to appear in Africa. If the process of introducing something has already begun, then it cannot be stopped. The KuCoin report shows a multi-thousand percent growth in transactions involving digital assets, which means that this figure will only continue to increase over the next few years, ”the statement said.
In this context, it is worth focusing readers' attention on the fact that almost 90% of the number of transactions made are international. Thus, it is not difficult to assume that digital assets have become an indispensable tool for African users in carrying out cross-border transactions.
Trending: CoinShares: Bitcoin funds raised $8.8 million in a week
“This is quite obvious and expected because BTC transfers have long been characterized by very low commissions, relative anonymity, and speed,” the analysts summed up.