In 2021, the average number of monthly cryptotransactions in Africa grew by 1,386.7%. Volexbit writes that.
The number of users increased by 2,467.2% over the same period. The average volume of a single transaction decreased, which is explained by the use of digital assets for small payments.
Such a significant dynamic is explained by a low comparison base. Volexbit’s CEO estimates that the continent’s share of value is still 2.8%.
“Adoption will continue to grow exponentially,” the top executive predicted.
Cross-border payments are the driver of growth, accounting for nearly nine out of ten cryptotransactions. Digital assets in many cases allow lightning-fast transfer of funds with a fee of less than 0.01% of the amount.