Paxful's P2P Market Reaches $40 Million in Monthly Bitcoin Volume in Africa
With an estimated population of hundreds of millions of unbanked and underbanked people, Africa is a prime location for game changing financial technologies like bitcoin to take hold. A new report shows again that while not reaching the speculative online trading volume of Asia or the West, Africans are investing in bitcoin in growing numbers, while a lot of space to grow still remains.
Real Adoption Grows in Africa
The continent has long been at the focus of the bitcoin trading company, and not just for pure business reasons. Last year Paxful generously committed to helping build 100 more schools in Africa, all supported by the #builtwithbitcoin charity campaign.
Bullish on Africa
'I have seen how the 'unbanked' and 'underbanked' get squeezed out of economic opportunities. These people are unable to open businesses or engage in commerce simply because their nations or communities do not have proper infrastructure readily available. I'm going to start off with a bold statement: We are all on the verge of the P2P financial revolution and it is being led by Africa.'
The marketplace CEO detailed real world examples of how Africans are using bitcoin to protect their savings, restore purchasing power, enable commerce and save for the future. He also encouraged local people to get involved, educate themselves about the subject and build local communities of investors.
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