RATE Group | Africa’s young population and the drive for cryptocurrency
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Africa’s young population and the drive for cryptocurrency

29 May Africa’s young population and the drive for cryptocurrency

Posted at 01:50h in Cryptocurrency News by

In response to the global challenges in various financial markets, recent trends suggest that Africa’s youth is leaning towards cryptocurrency as an alternative. Despite the obvious attraction, a number of questions persist on how cryptocurrency will shape the future of finance.

A study conducted by Arcane Crypto — a Norway-based crypto researcher — in collaboration with Luno, a leading crypto exchange provider, maintains that Africa is ideal for rapid crypto adoption due to current high inflation rates, volatile currencies, and a dearth of banking infrastructure, as well as a young digital-driven population.

According to CoinMarketCap’s Q1 2020 report on cryptocurrency adoption, Africa had the second-highest adoption of cryptocurrencies worldwide. The continent had a percentage youth growth of 91.47%, owing much to Nigeria’s 210.6% growth in young crypto users.

At 210.6%, Nigerian youth led the rest of the world in percentage growth of cryptocurrency adoption, far ahead…

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