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AFRICA LEADS IN PEER TO PEER TRADING OF BITCOIN

Report says 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 traded a total of $17,599,679, in LocalBitcoins and Paxful, which have 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 weighing it for each region’s individual and collective wealth measures, it therefore shows how strongly bitcoin adoption is increasing in emerging markets in Africa continent.

However financially privileged investors in developed countries often dismiss bitcoin’s usage as a currency or see it solely as a store of value.

However, with this report, Africa’s Bitcoin trading volume, in Paxful and LocalBitcoins combined, in 7-day periods, represents the most in recent times with faded bar.

Meanwhile, in terms of monthly averages for August, North America was marginally above sub-Saharan Africa, with a total of $73,529,843 traded in BTC volume from North America, while $73,420,672 has been traded in BTC volume from sub-Saharan Africa.

 

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