Does Africa have a crypto market?

Thanks to the latest research by Chainalysis Insights, we can take a zoomed-out picture of Africa’s crypto adoption and its likely global impact. According to the World Bank, the median GDP per capita in Sub-Saharan Africa is $1,483. Compared to the European Union, which has a GDP per capita at $33,927, this makes African wealth output 22X lower.

Does Africa have the smallest cryptocurrency market share?

Compared to the European Union, which has a GDP per capita at $33,927, this makes African wealth output 22X lower. Correspondingly, the Chainanalysis report found that Africa’s cryptocurrency market share is the smallest. Visual insights into African wealth vs. crypto adoption rate. Image: Chainalysis Insights

Why do Africans use crypto in everyday life?

Many Africans have integrated crypto into everyday life, the report says. Besides retail transactions, remittances and commercial transactions have also been key drivers for Africa’s high adoption and usage rates.