Nigeria leads P2P bitcoin trading in sub-Saharan Africa. - Update Hubs Naija


Update Hubs Naija

Update Hubs Naija brings you the latest updates on news, politics, local, metro, world, entertainment, celebs, music, movies, games, lifestyle, fashion, beauty, health, relationships, weddings, food, travel, arts, blog, website, technology.....

Wednesday, August 25, 2021

Nigeria leads P2P bitcoin trading in sub-Saharan Africa.


Sub-Saharan Peer-to-Peer Bitcoin trading has surpassed that from North America, making the region the largest P2P market in the world.

This is according to data from Useful Tulips analyses data from Local Bitcoins and Paxful trading platforms.

In the last trading week, a total of $17,599,679 was traded in BTC volume from sub-Saharan Africa. For the North American region, $17,540,134 was traded in BTC volume.

Nigeria led sub-Saharan charge with $8,761,051 in BTC traded volume. Kenya and Ghana were distant second and third with $3,613,004 and $2,882,710 in traded BTC volume for the period.

The United States led the North American charge with $16,752,803 in BTC volume for the period. 

In terms of monthly averages for August, North America was marginally above sub-Saharan Africa. A total of $73,529,843 has been traded in BTC volume from North America, while $73,420,672 has been traded in BTC volume from sub-Saharan Africa.

Since the Central Bank of Nigeria banned cryptocurrency in Nigeria in February, P2P trading has surged in the country.

In April 2021, Paxful had announced that trading volume from Nigeria had hit $1.5bn with 1.5 million users.

Between 2015 and 2020, Nigerians traded $566m worth of bitcoin only behind the United Stated in the peer-to-peer bitcoin market.

According to a source in Paxful, Nigerians had traded bitcoin volumes of over $225m from March to June 2021. The source added that only $180m was traded in BTC volume from Nov 2020 to Feb 2021.

Source: Punchng


  1. Great blog ! I am impressed with suggestions of author.

  2. I found decent information in your video. I am impressed with how nicely you described this subject, It is a gainful article for us. Secure Access To Trade Bitcoin Online Thanks for share it.

  3. Howdy! Someone in my Myspace group shared this site with us so I came to check it out. I’m definitely loving the information. I’m book-marking and will be tweeting this to my followers! Fantastic blog and outstanding design and style. Check This Out

  4. I just need to say this is a well-informed article which you have shared here. It is an engaging and gainful article for us. bitcoin vancouver Continue imparting this sort of info, Thanks to you.

  5. Excellent knowledge, You are providing important knowledge. It is really helpful and factual information for us and everyone to increase knowledge. Continue sharing your data. Thank you. Read more info about forex cash rebate

  6. It is what I was searching for is really informative.linzhi phoenix It is a significant and useful article for us. Thankful to you for sharing an article like this.

  7. You wrote this post very carefully.Trade Bitcoin Online The amount of information is stunning and also a gainful article for us. Keep sharing this kind of articles, Thank you.

  8. Excellent job, this is great information which is shared by you. This info is meaningful and factual for us to increase our knowledge about it. about Digital Currency Exchange So please always keep sharing this type of information.