The rate at which cryptocurrency exchanges and blockchain firms are pushing their offices and projects to Africa could be noticed. Many crypto enthusiasts could ask why the shift in attention to Africa when there are other countries in Europe and Asia that has a denser level of investors?
The reasons could not be far-fetched since:
1) That is the secret of China
2) The higher the number of participants the stronger the adoption
3) Most Africans are willing to taste new inventions
That is the secret of China
Many people are not aware that the high rate of increase in the economic advancement of China, is because of its concentration and penetration in Africa.
The Chinese government and investors have discovered this, hence the increase in the volume of exported products from China to African countries. The discovery of this secret has made projects like Binance and Luno to keep expanding businesses in African countries, since the increase in the adoption of crypto in Africa could lead to increase in the value of crypto assets held, hence a possibility of next bubble.
The higher the number of participants the stronger the adoption
Many could agree within the crypto community that irrespective of the crypto downtrend of last year, reports have it that there was an increase in the number of crypto users. The increase in this number could show that there is a willingness for people to adopt crypto as their preferred method of payments. So, an increase in the number of crypto users in Africa will add to the continuous gains crypto has made in other continents like Asia, North America, and Europe.
Most Africans are willing to taste new inventions
The remittance that Western countries collect from Africans studying in different countries in the West is high. This could show that Africans have a quest to taste new inventions and knowledge. Increase in crypto knowledge in Africa will directly lead to a more higher development of crypto in Africa, which will as well improve the prices of crypto assets.