• About us
  • Advertise With Us
  • Become a Contributor
  • Guest Posting Service
  • Privacy Policy
  • Submit Press Release
  • Terms & Conditions
  • Contact
Cryptowall Street News
  • Home
  • Trending Coins
    • Cardano
    • Ethereum
    • Coinbase
    • Polkadot
    • Metaverse
    • BNB Chain
    • DeFi
    • Polkadot
    • Solana
  • Market
    • Bitcoin
    • Blockchain
    • Analysis
    • Guide
  • Top List
    • Top 10 cryptocurrencies
    • Top 50 Cryptocurrency
    • Top 100 Cryptocurrencies
    • Top 200 Cryptocurrency
    • Top 250 Cryptocurrencies
  • Binance
  • Coinbase
  • Crypto
    • Crypto Exchange
  • Finance
  • Litecoin
  • Ripple
  • Tether
No Result
View All Result
  • Home
  • Trending Coins
    • Cardano
    • Ethereum
    • Coinbase
    • Polkadot
    • Metaverse
    • BNB Chain
    • DeFi
    • Polkadot
    • Solana
  • Market
    • Bitcoin
    • Blockchain
    • Analysis
    • Guide
  • Top List
    • Top 10 cryptocurrencies
    • Top 50 Cryptocurrency
    • Top 100 Cryptocurrencies
    • Top 200 Cryptocurrency
    • Top 250 Cryptocurrencies
  • Binance
  • Coinbase
  • Crypto
    • Crypto Exchange
  • Finance
  • Litecoin
  • Ripple
  • Tether
No Result
View All Result
Latest News and Updates on Cryptocurrency
No Result
View All Result
Home Crypto

Three Countries Account for Nearly Two-Thirds of Africa’s Crypto Holders — Study – Africa Bitcoin News

admin by admin
December 31, 2022
in Crypto
0 0
0
Three Countries Account for Nearly Two-Thirds of Africa's Crypto Holders — Study – Africa Bitcoin News
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

According to a new study, out of the estimated 55.3 million cryptocurrency holders that are spread among 33 African countries, three countries — Nigeria, South Africa, and Kenya — account for approximately 36.14 million or nearly two-thirds of this total. In contrast, the study found that Seychelles, which is home to several cryptocurrency exchanges, has approximately 1,000 cryptocurrency holders.

Nigeria Dominates

The findings of the latest study undertaken by the Moroccan think tank Policy Center for the New South (PCNS), suggest that Nigeria has by far the largest number of cryptocurrency holders (40.5%) among the 33 African countries that were surveyed. The study findings also show South Africa as the next highest-ranked African country with an estimated 7.71 million cryptocurrency holders. Kenya’s estimated 6 million crypto holders mean it is the third highest-ranked African country.

In addition to having the highest number of crypto holders among the surveyed states, the three countries are the only ones whose proportion of holders relative to their population size is higher than 10%. However, when using this metric, it is South Africa — whose proportion of crypto holders is 12.27% — that is ranked number one. Kenya is ranked second with 11.85% while Nigeria, Africa’s most populous state, is ranked third with 10.33%.

Rising Number of Crypto Holders Down to Urban and Economic Factors

For the rest of the surveyed countries, the PCNS study found that the proportion of crypto holders ranges between one and five percent. Ghana (4.3%) and Togo (4.22%) lead countries in this category, while Cabo Verde (1%) is the lowest ranked.

Meanwhile, in Seychelles, where major cryptocurrency exchanges like Huobi and Kucoin are domiciled, the percentage of crypto holders relative to its estimated 90,000 plus inhabitants is 1.33%.

Commenting on the findings, the PCNS study’s summary states:

Such emergence owes nothing to chance. Demographic, urban and economic factors specific to the continent explain it in part. The other explanatory part is linked to the technology of cryptocurrencies, [how this] allows the transfer of capital more quickly and at a lower cost.

In jurisdictions that have banned or restricted the use of cryptocurrencies like Nigeria, the summary said such countries should now consider regulating.

Register your email here to get a weekly update on African news sent to your inbox:

What are your thoughts on this story? Let us know what you think in the comments section below.

Terence Zimwara

Terence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

More Popular News

In Case You Missed It

Central Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year

The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this … read more.

Source

Tags: Crypto Guest PostingCrypto NewsCrypto WorldCryptocurrency NewsLatest Crypto NewsToday Crypto Update
admin

admin

  • Trending
  • Comments
  • Latest
Beldex and Geometry Labs enter privacy-enhancing partnership

Beldex and Geometry Labs enter privacy-enhancing partnership

September 13, 2022
Here's When the Ethereum Proof-of-Work Fork Will Take Place

Here’s When the Ethereum Proof-of-Work Fork Will Take Place

September 13, 2022
Horizen Labs' ApeCoin staking hype sets $APE on a bullish trajectory

Horizen Labs’ ApeCoin staking hype sets $APE on a bullish trajectory

September 13, 2022
Bitcoin breaks to $20K as bulls target higher mothly close

Bitcoin breaks to $20K as bulls target higher mothly close

October 9, 2022
Only1 review: redefining social media experience using NFTs

Only1 review: redefining social media experience using NFTs

0
Et voici EIP-1559 !

Et voici EIP-1559 !

0
Crypto.com is now registered as a virtual asset service provider in the Cayman Islands

Crypto.com is now registered as a virtual asset service provider in the Cayman Islands

0
Crypto has provided Ukraine a way to ‘fight back’, digital transformation minister says

Crypto has provided Ukraine a way to ‘fight back’, digital transformation minister says

0
Metaverse Tokens Outperform Top Crypto Assets in 2023 With Decentraland's MANA Leading the Pack – Metaverse Bitcoin News

Metaverse Tokens Outperform Top Crypto Assets in 2023 With Decentraland’s MANA Leading the Pack – Metaverse Bitcoin News

February 2, 2023
82% of Millionaires Ask About Putting Crypto in Their Portfolios, Survey Shows – Featured Bitcoin News

82% of Millionaires Ask About Putting Crypto in Their Portfolios, Survey Shows – Featured Bitcoin News

February 1, 2023
JPMorgan CEO Jamie Dimon Calls Bitcoin 'Hyped-up Fraud' — Expects Satoshi Nakamoto to Increase BTC Supply Cap – Featured Bitcoin News

JPMorgan CEO Jamie Dimon Calls Bitcoin ‘Hyped-up Fraud’ — Expects Satoshi Nakamoto to Increase BTC Supply Cap – Featured Bitcoin News

January 31, 2023
Nothing Outlaws Crypto in India if Legal Procedures Are Followed, Says Government Official – Regulation Bitcoin News

Nothing Outlaws Crypto in India if Legal Procedures Are Followed, Says Government Official – Regulation Bitcoin News

January 30, 2023

POPULAR NEWS

    Recommended

    Metaverse Tokens Outperform Top Crypto Assets in 2023 With Decentraland's MANA Leading the Pack – Metaverse Bitcoin News

    Metaverse Tokens Outperform Top Crypto Assets in 2023 With Decentraland’s MANA Leading the Pack – Metaverse Bitcoin News

    February 2, 2023
    82% of Millionaires Ask About Putting Crypto in Their Portfolios, Survey Shows – Featured Bitcoin News

    82% of Millionaires Ask About Putting Crypto in Their Portfolios, Survey Shows – Featured Bitcoin News

    February 1, 2023
    JPMorgan CEO Jamie Dimon Calls Bitcoin 'Hyped-up Fraud' — Expects Satoshi Nakamoto to Increase BTC Supply Cap – Featured Bitcoin News

    JPMorgan CEO Jamie Dimon Calls Bitcoin ‘Hyped-up Fraud’ — Expects Satoshi Nakamoto to Increase BTC Supply Cap – Featured Bitcoin News

    January 31, 2023
    Nothing Outlaws Crypto in India if Legal Procedures Are Followed, Says Government Official – Regulation Bitcoin News

    Nothing Outlaws Crypto in India if Legal Procedures Are Followed, Says Government Official – Regulation Bitcoin News

    January 30, 2023

    About Us

    Get the latest news on Cryptocurrency and stay up-to-date ... Cryptocurrency prices today

    Categories

    • Analysis
    • Binance
    • Bitcoin
    • Blockchain
    • BNB Chain
    • Cardano
    • Coinbase
    • Crypto
    • DeFi
    • Ethereum
    • Finance
    • Guide
    • Market
    • Metaverse
    • Polkadot
    • Solana
    • Tether

    Tags

    BNB Chain Business Wire Pricing Cardano Cardano Crypto Crypto Cryptocurrency News Crypto Guest Posting Crypto News Crypto news distribution network Crypto news platform Crypto news site Crypto World DeFi Crypto Ethereum Ethereum Crypto Ethereum Digital Marketing agency Ethereum Marketing Agency Ethereum Marketing Experts Ethereum Online Marketing Agency Latest Crypto News Marketwired Pricing Metaverse Polkadot Polkadot Digital Marketing firm Polkadot Marketing Experts PRNewswire Cost PRNewswire Pricing PRWeb Pricing Solana Solana Crypto Solana Digital Marketing Specialists Solana Marketing Experts3 Solana Online Marketing Agency Today Crypto Update Top Cryptocurrency News video news release video press release video press release service
    • About us
    • Advertise With Us
    • Become a Contributor
    • Contact
    • Guest Posting Service
    • Home 4
    • List Of Top All Cryptocurrencies In The World (2022 Updated)
    • Privacy Policy
    • Submit Press Release
    • Terms & Conditions
    • Top 10 cryptocurrencies in the world | Crypto Prices Today LIVE
    • Top 100 Cryptocurrencies (Real-Time Prices) Market Cap
    • Top 200 Cryptocurrency List Price – Charts
    • Top 50 Cryptocurrency Prices – Coin Market Cap and Price Charts

    © 2022 cryptowallstreetnews.

    No Result
    View All Result
    • Home
    • Trending Coins
      • Cardano
      • Ethereum
      • Coinbase
      • Polkadot
      • Metaverse
      • BNB Chain
      • DeFi
      • Polkadot
      • Solana
    • Market
      • Bitcoin
      • Blockchain
      • Analysis
      • Guide
    • Top List
      • Top 10 cryptocurrencies
      • Top 50 Cryptocurrency
      • Top 100 Cryptocurrencies
      • Top 200 Cryptocurrency
      • Top 250 Cryptocurrencies
    • Binance
    • Coinbase
    • Crypto
      • Crypto Exchange
    • Finance
    • Litecoin
    • Ripple
    • Tether

    © 2022 cryptowallstreetnews.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    • bitcoinBitcoin(BTC)$23,889.003.16%
    • ethereumEthereum(ETH)$1,674.175.59%
    • USDEXUSDEX(USDEX)$1.08-0.31%
    • tetherTether(USDT)$1.000.02%
    • binancecoinBNB(BNB)$327.314.84%
    • usd-coinUSD Coin(USDC)$1.000.02%
    • rippleXRP(XRP)$0.4143442.13%
    • Binance USDBinance USD(BUSD)$1.00-0.13%
    • cardanoCardano(ADA)$0.4071775.07%
    • dogecoinDogecoin(DOGE)$0.0943291.29%