Untapped Resources- African Crypto Community

It is evidence that cryptocurrency is gaining momentum in African community such as Nigeria, Ghana, Botswana, Kenya, South Africa and Zimbabwe. A report by gobitcoin.io shows that these part of the continent are considered to be the leading adopters over the past few years. Although Africa captures only 2 percent of the global value of all cryptocurrencies received. Africa grew 1200% between the year 2020 and 2021 making it the fastest adoption rate in the world. Africa, the second-most-populous continent in the world, with around 1.3 billion people has been experiencing fast adoption of the technology which has made Africa a perfect market for cryptocurrency startups.
AFRICA PHOTO CREDIT
Understanding the African Crypto Community

A population of African communities that is growing exponentially everyday needs to be explored. Africa’s fast-growing population and markets present important opportunities for business in an environment of slowing global growth. At the same time, greater innovation and investment from business is essential to meet Africa’s unfulfilled demand for crypto. All thanks to the internet and the early cryptocurrency adopters in Africa which include the followings among others:
The influence of Celebrities: These are famous individuals in the society that have large number of supporters especially in entertainment industry. It is easier for these set of people to disseminate information to get to the general public, especially the younger generation. That means their influence on helping the crypto community is extremely a good niche in the future.”
The Influence of Content Creators: These are individuals who creates digital entertaining material to be expressed through any medium for the purpose of generating income. Content creation has been contributing immensely among youths in Africa. This gives cryptocurrency more mainstream and helps breaking down the concepts of cryptocurrency into different local language. Hence, more needs to be explore as regards getting the elderly ones understand what crypto is.
In conclusion, Africa is a great opportunity for crypto startups to explore due; population, increased literacy level, fast adoption
More Reads:
https://www.un.org/africarenewal/magazine/june-2021/crypto-currency-adoption-africa-ups-and-downs
https://www.brookings.edu/research/spotlighting-opportunities-for-business-in-africa-and-strategies-to-succeed-in-the-worlds-next-big-growth-market/#footnote-1



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