Africa is the second largest continent in terms of population. According to Worldometer, its population is about 1.34 billion. In the Cryptocurrency space, numbers play an important role in determining a lot of data that is essential for the survival of a project.

According to available data, over $105 billion in transactions were sent into Africa in 2021. When the present total market capitalization of about $1.8 trillion is considered, we can see that Africa has been positioned as an important continent in the crypto space.

Between June 2020 and June 2021, the rate of <a href="https://www.cryptoknowmics.com/news/a-rundown-on-cryptocurrency-debit-cards-in-the-digital-economy/">Cryptocurrency</a> adoption in Africa has grown by 12times. This is a big growth that has a great impact on the market.

<strong>Some of the roles that Africa can provide in crypto adoption include:</strong>
<ul>
 	<li>Avenue for growth of Cryptocurrency Laboratories.</li>
 	<li>Avenue for the adoption of projects with real-life application</li>
 	<li>Avenue to source for experts</li>
</ul>
<h2><strong>Avenue for growth of Cryptocurrency Laboratories</strong></h2>
Cryptocurrency and Blockchain laboratories has served as an avenue where research and new developmental ideas are hatched. Top technology giant companies like Binance, CV exchange in Switzerland all have blockchains laboratories in Africa. One of the reasons for this, is the rapid growth of market in recent times. Three African countries Nigeria, Kenya, and South Africa are among the top six countries in Crypto adoption in the world. This is due to the nature of Africans to adopt projects and inventions that has a direct impact in their day to day activities.
<h2><strong>Avenue for adoption of projects with real-life application</strong></h2>
Africans believe in the effect they can observe with the presence of a thing or project. This is one of the reasons why most indigenous cryptocurrency projects had succeeded. The rate of internet penetration in Africa at about 43% according to Statista. This is against the global average of about 66%. This means that with improved internet access, the present record of 1200% growth in Crypto adoption in Africa within a year could be surpassed. This is one of the reasons why blockchain companies like 3Air and World Mobile are committed to increasing internet access in Africa.
<h2><strong>Avenue to source for Cryptocurrency and Blockchain experts</strong></h2>
Although, Cryptocurrency and Blockchain evolution is at its early stage. There has been a very high demand for professionals that have knowledge in different areas of the industry. With the high rate of adoption of Cryptocurrency in Africa and the job opportunities in the industry experiencing the second-largest growth in recent times, Africa can't be ignored. Africa can serve as an avenue for blockchain projects to source the necessary experts in the industry.
<h2><strong>Conclusion</strong></h2>
Africans embrace projects that can reduce the level of the impact of inflation and improve their standard of living. Cryptocurrency has served as one of the avenues. Hence, we should expect a higher adoption from individuals, private establishments, and governments in Africa in the coming years.

The Role of Africa in Cryptocurrency Adoption

Chukwuemeka Raphael is an author and cryptocurrency news writer/analyst. As a Mathematics graduate and trained analyst, he combines his Math knowledge and strong reading culture in contributing content and analysis for the development of cryptocurrency and blockchain space.

The Role of Africa in Cryptocurrency Adoption

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