Sun 22 Sep 2024 ▪
4
min read ▪ by
Evans S.
Africa has become a key player in the crypto universe. Among the platforms that are taking advantage of this growing craze, Bitget stands out with an impressive 1,600% growth in the number of its African users. This spectacular increase is driven by several factors, including the rapid adoption of mobile technologies and alternative financial systems on the continent. But how can we explain such success? Let’s decipher this phenomenon that is transforming the crypto ecosystem in Africa.
The Effect of Copy Trading and the Rise of Cryptos in Nigeria
Bitget, a Seychelles-based cryptocurrency exchange, recently released a report highlighting a 1,600% increase in its user base in Africa.
This growth is particularly marked in Nigeria, a country which now ranks among the top three global markets for cryptocurrency adoption.
Bitget’s success in the country is largely due to the growing popularity of copy trading, which has seen a 300% increase in the last two years.
Nigeria, ranked second in Chainalysis’ Global Crypto Adoption Index, is proving to be a pioneer in the adoption of digital financial systems.
This leap forward is no accident. With banking infrastructure sometimes limited, Nigerians are turning to more accessible solutions like Bitget to meet their financial needs.
Cryptocurrencies offer a welcome alternative here in an economy often affected by inflation and monetary restrictions.
Accessible mobile technologies and financial systems
Bitget’s success in Africa is also explained by the strong growth of mobile technologies, which have paved the way for mass adoption of cryptocurrencies.
The African continent, rich in young and connected populations, has become fertile ground for technological innovations.
Bitget’s report highlights the importance of accessible financial systems in Africa, as cryptocurrencies offer a solution to the continent’s economic challenges.
Nigeria is a case in point: Bitget Wallet took first place on the App Store in the finance category, surpassing globally popular apps like TikTok and WhatsApp.
On Google Play, the app also ranks among the top five. This surge illustrates how Bitget has adapted to the needs of African users by offering a platform that is both intuitive and educational.
Education, Thought Leaders and the TON Ecosystem
Another key to Bitget’s success in Africa is user education. Indeed, the platform has placed emphasis on training its members to help them navigate the complex world of cryptocurrencies.
This strategy relies on the support of influential key opinion leaders (KOLs), who play a crucial role in educating users about the Bitget ecosystem and its features.
At the same time, the rapid development of the TON (The Open Network) ecosystem has also contributed to Bitget’s expansion on the continent.
This network, based on an open and decentralized blockchain, has made it possible to attract a wider audience thanks to innovative solutions adapted to African realities.
In conclusion, Bitget’s meteoric rise in Africa not only reflects the continent’s growing appetite for cryptocurrencies, but also the platform’s ability to understand its users’ needs and provide them with accessible and educational tools. In a context where inflation and banking exclusion are pushing Africans to seek alternatives, cryptocurrencies, with Bitget at the forefront, are positioning themselves as solutions for the future.
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Evans S.
Fascinated by bitcoin since 2017, Evariste has continued to research the subject. While his first interest was in trading, he now actively tries to understand all the advances centered on cryptocurrencies. As a writer, he aspires to consistently deliver high-quality work that reflects the state of the industry as a whole.
