African people use bitcoin instead of bank

Uğur Bayram

Sep 17, 2021

The African continent has bought billions of cryptocurrencies in a year.

The African continent has bought billions of cryptocurrencies in a year. According to Chainalysis, which monitors crypto movements, around $100 million in cryptocurrencies were received per month. It seems that African citizens do not get caught up in capital controls by buying cryptocurrencies.
The reason for the widespread use of crypto money is that the banking infrastructure in Africa is not developed.
One of the reasons why crypto money is so preferred is that it can be easily reached with smartphones and the global economy is easily accessible.