Africa Largest Bitcoin Peer-to-Peer Trading Volume

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Africa has become the continent with the largest volume of bitcoin peer-to-peer trading in the world, according to data from analytics platform UsefulTulips. In the past seven days, the continent’s $18,073,777 negotiated in LocalBitcoins and Paxful surpassed North America, the previous leader, that traded $17,540,134 worth of bitcoin in peer-to-peer platforms.

Although the data is harvested in absolute numbers, not weighting it for each region’s individual and collective wealth measures, it shows how strongly bitcoin adoption is increasing in emerging markets. While financially privileged investors in developed countries often dismiss bitcoin’s usage as a currency or see it solely as a store of value, those in less-privileged regions who usually face strong currency debasement or limited access to the traditional financial system show how vital bitcoin can be and the real-world problems it can solve.

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