Nigeria and South Africa in the Top 10 countries that own or use the most cryptocurrencies in the world

Nigeria and South Africa in the Top 10 countries that own or use the most cryptocurrencies in the world

To end the procedures that usually slow down banking and financial services, some countries in the world prefer to use cryptocurrency although this new asset class is not yet legalized in several Nations. According to Gemini’s ranking for May 2022, Nigeria (eNaira) and South Africa (Safcoin) are the two in Africa that appear in the Top 10 countries in the world where people own or use the most cryptocurrencies. They are respectively ranked 6th and 7th Nigeria totals a percentage of 26% and South Africa (25%). In the Top 20, Kenya ranks 19th rank (15%). The first 5 places are occupied by Indonesia and Brazil (41% each), the United Arab Emirates (35%) and Singapore (30%).

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According to a study by Statista Global Consumer Survey in 2021, Nigeria leads the pack with 42% of respondents holding or using the most cryptocurrencies. South Africa occupies the 5th rank according to said classification. However, in its Top 20 last year, the research firm chain analysis respectively ranks 5th, 6th, 9th, 16th, 17th and 19th Kenya, Nigeria, Togo, South Africa and Ghana and Tanzania.

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To date, the RCA is the 1er African country and the only one in Central Africa to have adopted Bitcoin as legal tender. It launches purchases of its own cryptocurrency called “Sangocoin” on July 25. It will be at the initial unit price of $0.10, with a minimum investment of $500 to be paid in Bitcoin and Ethereum cryptocurrencies.

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