HomeBitcoinGhana surpasses Nigeria and Kenya in crypto adoption: Chain analysis

Ghana surpasses Nigeria and Kenya in crypto adoption: Chain analysis

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According to Ray Youssef, CEO of Paxful, Ghana has the potential to be a leader in the adoption of cryptocurrencies given its current growth trends.

As developing economies take the lead in crypto acceptance, Ghana, a country located in West Africa, may soon catch up with other African countries regarding cryptocurrency use.

In a survey produced by blockchain analytics platform Chainalysis, researchers discovered that Ghana has the potential to attain crypto adoption levels equivalent to Kenya and Nigeria, nations that rated 11th and 19th in the analytics firm’s Global Crypto Adoption Index.

According to Ray Youssef, CEO of peer-to-peer (P2P) platform Paxful, Ghana has the potential to become a leader in adoption due to both local demand and current growth trends. African cryptocurrencies.

Youssef said Ghana’s entire trade volume on its P2P exchange has surged by 400% over the previous two years. The CEO informs Ghanaians about bitcoin (BTC) and other cryptocurrencies and thinks that many Nigerians spend the summer in Ghana.

Chainalysis also notes that the data they have on Ghana and the information supplied by Youssef are consistent. The analytics firm noted that aside from Ghana, other nations in sub-Saharan Africa are projected to have increased amounts of cryptocurrency adoption as many citizens continue to confront difficulties that may be password solve.

the Africa Money & DeFi Summit, Kwame Oppong, an official at the Bank of Ghana, stated the government is testing and planning for a digital currency. Central Bank ID (CBDC). Oppong claims that they are working to establish a CBDC to advance financial inclusion in the nation. Due to its various advantages, the CEO thinks bitcoin has a lot of promise.

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