Categories: BusinessTECH

Nigeria Leading in Africa as Global Bitcoin Transactions Hit $3tn

Despite economic losses from cryptocurrency trade and caution by financial experts, global trade in the Bitcoin industry has hit $3 trillion.

Coming at a time that Nigeria had been ranked as the fastest leading country in Bitcoin adoption in Africa, followed by Togo, Cameroon, Cote d’Ivoire, Senegal, Kenya and South Africa, the Convener of Bitcoin Africa conference, Farida Nabourema, on Wednesday, said in the past five years, the industry has been the fastest on the planet and has surpassed card transactions.

She said the African continent has the fastest adoption rates in the world, saying at such rate, the continent may surpass America, Europe, or even Asia.

She noted that the maiden African Bitcoin Conference scheduled to hold in Accra, Ghana between December 3rd and 5th would attract about 800 people across the globe to speak about new innovations in the sector.

Speaking on Bitcoin investment, she urged Nigerians to be careful.

Nabourema said, “when people say can I invest in Bitcoin? I just tell them, can you invest in naira? Can you invest in dollars? The whole idea of Bitcoin making money out of Bitcoin is buying it and holding it.”

The Convener of the conference pointed out that a lot of scamming were happening in the cash industries and governments don’t talk about.

She said Bitcoin would check fraudulent activities, stressing the need for the government to understand the Blockchain so as to make sound policies.

Bennett Oghifo

Follow us on:

AriseNews

Recent Posts

Trump Nominates Pam Bondi as Attorney General After Gaetz Withdraws

Pam Bondi, former Florida attorney general and Trump ally, has been nominated as US attorney…

53 mins ago

Canadian Town Council Faces Deadlock As Newly Elected Mayor, Officials Refuse To Pledge Allegiance to King Charles III

Canada’s Dawson City’s newly elected council has stalled governance, rejecting oath to King Charles in…

1 hour ago

Suspected APC Thugs Attack PDP Secretariat In Edo, Destroy, Steal Properties Worth Millions

Edo PDP has accused the APC of orchestrating an attack on party secretariat, destroying and…

1 hour ago

Nigeria Partners With IOM On Revised Migration Policy, Reveals 6.1 Million Nigerians Displaced Amidst Insecurity

The FG has partnered with IOM, announced a strategy to review migration policy and address…

1 hour ago

Dangote Group Took Up The Challenge, Built A Refinery When Shell, Chevron, Other IOCs Couldn’t, Says Dangote VP Devakumar Edwin

Dangote Group’s Edwin Devakumar has said that by building the refinery, Dangote did what IOCs…

1 hour ago

House Deputy Speaker Kalu Says Governors Receptive To Proposed Constitution Amendments

Benjamin Kalu has revealed that Nigerian governors are supportive, committed to reviewing the 161 proposed…

2 hours ago