Reporting on Fintech, Bitcoin, Ethereum, Blockchain and Cryptocurrency News in Nigeria


Sub-Saharan Africa P2P Bitcoin Weekly Trades Hits a New Record of $10M USD Trading Volume.

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Just in, the Sub-Saharan Africa Bitcoin trades on peer-to-peer exchanges including Paxful and Localbitcoins, hit a new high, breaking the December 2017 bull market run that saw bitcoin reach $20,000.

The new set records can be seen by evaluating the transaction volumes on LocalBitcoins and Paxful P2P bitcoin trading platforms.

See Also: EFCC Is Set To Investigate Paxful NG Over $60,000 Loss And Nigerians Account Deactivation.

The CEO of Paxful, Ray Youssef, has also said that the exchange trade volumes are up by over 20 percent, with an increase in new signups coming from:

  • Ghana
  • Nigeria
  • Pakistan

According to an analyst on twitter, Matt Ahlborg, these new figures may well have put Africa at the fore-front as the epicenter of utility Bitcoin usage globally surpassing Latin America.

Going further, he also notes that Nigeria in particular has shown some interesting changes recently as it transitioned from trading at a discount mere months ago to trading at a premium now. 

“I believe this may be related to oil price collapse and corresponding pressure on the Nigeria’s currency”

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