According to the research conducted by Chain Analysis, African countries are turning to Bitcoin. Chain analysis also investigated the reasons for this.
African countries are hopeful for Bitcoin
Demand for Bitcoin, one of the most important currencies of today, continues to increase. There has been an intense interest in Bitcoin, especially from African countries.
According to research by Chain Analysis, monthly Bitcoin transfers of 10 thousand dollars and less to Africa and other countries from Africa reached 316 million dollars in June. This rise, which corresponds to an increase of more than 55 percent in a year, shows how interested African countries are in Bitcoin.
Frankline Khiu, who works as a crypto broker in Nairobi, spoke to Reuters about the reasons behind this demand from African countries. According to Khiu, people in African countries adopt every technology that will make their lives easier, very quickly, and easily. In addition, although there are restrictions in most countries, the easier access to Bitcoin in Africa has an important share in this. It is stated that obtaining US dollars in these countries is more difficult than obtaining Bitcoin. For example, after the local currency fell rapidly in Nigeria, citizens had to turn to different alternatives.