Peer-to-peer Trading – DIGIT INFO

Co-Founder of Zimbabwean Fintech Startup: ‘Everyone Has a Right to Access Funds and Financial Freedom’

DIGIT — Thu, 21 Apr 2022 08:30:00 +0000

Cryptocurrencies have been proven to be a financial tool that can be used to store value or make payments by those excluded from the financial system. Yet, despite this being true in many jurisdictions, many of those that might benefit from cryptocurrencies are still not using them. Regulatory Uncertainty and Ignorance There may be several […]

Go to Source

Study Finds 33.4 Million Nigerian Adults Hold or Have Traded Crypto in Last 6 Months

DIGIT — Tue, 12 Apr 2022 10:30:07 +0000

According to a new report, approximately 33.4 million Nigerians, or 35% of the country’s adult population, are holders of cryptocurrencies or have traded them in the past six months. The report attributes the growing adoption of cryptocurrencies to rising inflation and the plunging value of the local currency. Converting From Fiat to Crypto via P2P […]

Go to Source

Report: Morocco Now North Africa’s Leading P2P Crypto Trading Nation

DIGIT — Wed, 12 Jan 2022 10:30:43 +0000

In the year 2021, Morocco, which previously announced measures restricting crypto trading, became North Africa’s leading crypto-trading nation after its peer-to-peer (P2P) trade volumes surged to $6 million. Morocco in Africa’s Top Four In 2021, Morocco’s peer-to-peer crypto trade volume of $6 million was enough to see it ranked North Africa’s top cryptocurrency trading nation, […]

Go to Source

Report: Kenya Set to Scale Up Adoption of Cryptocurrencies in 2022

DIGIT — Mon, 10 Jan 2022 06:30:01 +0000

In his Africa crypto market predictions for 2022, Marius Reitz, the general manager for Luno in Africa, has predicted that Kenya will scale up the adoption of cryptocurrencies. To support this assertion, Reitz points to Kenya’s as position as the leader in the world’s peer-to-peer (P2P) traded volumes for the second year running. Kenya’s Booming […]

Go to Source

An African Perspective on Why the World Needs Cryptocurrencies

DIGIT — Wed, 29 Dec 2021 12:00:14 +0000

Rising cryptocurrency use in Africa over the past few years has not only shown that digital currencies are now a vital means of moving funds across borders and between people, but that cryptocurrencies are also an important means of accessing global markets for the financially excluded. Cryptocurrency Now a Necessity Despite ongoing efforts by regulators […]

Go to Source

Kenyan Banks Warn Clients Against Crypto Trading

DIGIT — Tue, 08 Jun 2021 09:00:06 +0000

A few Kenyan banks have started sending out warning alerts to clients engaged in cryptocurrency trading to be wary of the associated risks. These warnings have reportedly been sent to clients who have “used their credit and debit cards to buy cryptocurrencies on crypto exchanges.” Crypto Trading Risks According to a local report, one of […]

Go to Source

Nigerian Regulator Issues ‘Extreme Caution’ Crypto Investments Warning

DIGIT — Wed, 28 Apr 2021 06:30:37 +0000

Nigeria’s Economic and Financial Crimes Commission (EFCC) has become the latest body to warn of risks associated with cryptocurrency investments. In a public warning, the law enforcement agency argues that investing in cryptos “is a high-risk activity as the terrain is largely unregulated and prone to fraud.” Proliferation of Scams According to a report that […]

Go to Source

P2P Bitcoin Trade Volumes Surge in Kenya and Ghana but Nigeria Still Dominates

DIGIT — Sun, 11 Apr 2021 12:30:06 +0000

According to new data, peer-to-peer (P2P) bitcoin trade volumes in Kenya and Ghana surged in Q1 of 2021, with the two countries now ranked second and third respectively. On the other hand, volumes in South Africa, which occupied second place in 2020, dropped marginally. Consequently, South Africa has now been relegated to the fourth position […]

Go to Source

Central Bank of Nigeria Official Reiterates Nigerian Residents Free to Trade Cryptos: Directive Only Applies to Banking Sector

DIGIT — Sun, 21 Mar 2021 13:45:01 +0000

A senior executive with Nigeria’s central bank, Adamu Lamtek, has reportedly denied that his institution had placed restrictions on the use of cryptocurrencies. Instead, Lamtek, who is the deputy governor responsible for corporates services at the Central Bank of Nigeria (CBN), says his organisation’s directive only applies to the banking sector. Prohibition Only Applies to […]

Go to Source

Central Bank of Nigeria Denies It Has Placed New Restrictions on Cryptocurrencies — Uses Debunked Claims to Justify New Directive

DIGIT — Wed, 10 Feb 2021 09:05:05 +0000

Following the outcry over the Central Bank of Nigeria’s latest directive that targets cryptocurrencies, the institution has reaffirmed its stance with another statement. In the latest five-page document, the CBN insists that this directive is intended to protect the country’s financial system from the “risks” that are associated with cryptocurrencies. Debunked Claims Still, the central […]

Go to Source