Between July 2020 and June 2021, the adoption rate of cryptocurrencies in Africa rose by 1,200%, making it the fastest adoption rate in the world. In terms of total transaction volume, however, the African continent is catching up with other regions in crypto transactions.
Driven by peer-to-peer (P2P) transactions in key growth markets, Africa has accumulated cryptocurrencies worth $105.6 billion through June 2021 in its annual forecast. Markets like Kenya, Nigeria, South Africa and Tanzania have the highest base adoption rates in the world, ranking in the top 20 in the global crypto adoption index.
The latest data from digital analytics firm Chainalysis shows that Africa’s retail transfer volume is 7% against the global average of 5.5%.
Crypto Transactions in Africa
Peer-to-peer (P2P) cryptocurrency trading platforms are now the engine of growth as Africa pulls ahead of the rest of the world in grass-roots adoptions of virtual cash.
In countries like Nigeria and Kenya, consumers have been documented buying commodities and services, as well as paying debts using digital currencies.
Many Africans turn to blockchain applications for financial transactions. One such application is HaggleX.
HaggleX is a multi-currency exchange blockchain-based financial ecosystem, developed on the Ethereum blockchain network to enable people to carry out financial transactions through the use of its app (HaggleX app) and native token “HAG”.
With the HaggleX app, users can get to store or trade different cryptocurrencies, be able to pay for utilities, and transact all around the globe with minimal charges.
Since its app launch, HaggleX has recorded up to $2 million in transactions and the numbers will not be stopping anytime. This is great evidence of HaggleX influence in the crypto community in Africa and the globe at large. What features make HaggleX desirable?
With three free transactions a day, the ability to send and receive crypto with just a username, the option to save crypto assets with desirable interest, and a secured platform to store your crypto assets, it is obvious why crypto users are using HaggleX for their financial transactions.
A significant amount of Africans are using blockchain-based financial applications to trade their crypto assets with ease. HaggleX offers the safest and cheapest way to make financial transactions. If you want to know more about HaggleX, you can visit their website, or follow them on their social media handles on Facebook, Twitter, or Instagram.