Cryptocurrencies

In 2020 bitcoin transaction volumes exploded in Africa – Cryptocurrencies

illustration image of bitcoin in africa

2020 has passed. It’s time to take stock. Pandemic forces, it is difficult to say that the year went well. However, only the eye of a Bitcoin (BTC) enthusiast can see it differently. Recently we shared with you the records recorded by Binance p2p and Paxful in Africa. These giants are not the only ones to have made good volumes in 2020. The results of these two lambdas platforms may surprise you.


A x40 in volumes on Bitsika

Astu Davoh is the CEO of Bitsika, a money transfer app with operations stretching from Ghana to Nigeria. The latter declares that his platform has recorded a transaction volume of $ 40 million in 2020.

We are talking abouta difference of 4,000% compared to 2019. At the time bitsika recorded only one million US dollars in total volume. The platform would count today 95,509 users including more than 95% registered in 2020.

A year of success also on the side of transaction fees charged. In 2019 it was only 329 US dollars. This figure rose to $ 1,027,583 in just one year.

Despite a crazy year, bitsika is not short of ambition. The company plans fundraising in February 2021 and it’s Davido, a well-known star in the music arena who announced it. The latter joined Bitsika as an investor. Its popularity is certainly one of the reasons for the excellent evolution of the platform.

BuyCoins no longer stops

Bitsika is not the only platform to have performed in 2020. BuyCoins Africa is a Nigerian exchange. Its CEO Timi Ajiboye claims that its platform handled a volume of over $ 141 million in 2020.

Buycoins Africa Team
Buycoins frica team

This represents an increase of 500% compared to 2019 ($ 28 million). The exchange now counts nearly 16,768 users, which represents an evolution 12 times greater than in 2019. The team has grown from 10 to 22 members.

As always for us, it’s the first day!“- comments Timi Ajiboye who announces that he wants to extend the services of his platform to other African countries in 2021.

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This explosion in volumes on platforms in Africa is due on the one hand to the start of the bullrun in the last quarter of the year and on the other hand to a rather successful marketing approach. While Bitsika treated himself to davido, a _ million follower star on Paxful twitter took Sauti Sol on his journey and the results are in store. Everything suggests that the most exciting is yet to come.

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