From Jollof Rice Wars to Crypto: Nigeria and Ghana Among World’s Leading Cryptocurrency Markets

If the long and hotly debated topic of which country has the best jollof rice between Nigeria and Ghana wasn’t enough for you, reports have surfaced of a new bit of spicy stew for the two West-African nations as they were ranked among the world’s 10 leading cryptocurrency markets.

Nigeria and Ghana were reported by an exchange to hold $64,357,115 worth in crypto transactions on the exchange’s platform. Taking the figure into account and considering the cryptocurrencies held by other exchanges operating in Africa, the collective figure across all exchanges would be mind-blowing. The two states made it to the list of the 10 most popular cryptocurrency marketplaces in the world, accounting for trading volumes on the cryptocurrency exchange, comparable to some players in European and North American regions.

In some parts of Africa, adoption of cryptocurrencies has increased by 100%. In the last 12 months alone, the amount of users of cryptocurrencies in Africa has increased by 225%.

An exchange reported that the average value of a bitcoin purchase on their platform is $60. More young africans look to adopt the cryptocurrencies for various reasons including: hedging against fiat currency related risks, investments, financial inclusion in the global financial system, merchant payments.

A revolution is taking place like never before. This time, the masses benefit. It grows, slowly but surely, the revolution takes over. Amor fati.

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