{"id":8830,"date":"2021-08-28T15:56:56","date_gmt":"2021-08-28T14:56:56","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=8830"},"modified":"2021-08-28T15:57:05","modified_gmt":"2021-08-28T14:57:05","slug":"kenya-tops-the-chart-in-terms-of-p2p-crypto-trading-according-to-chainalysis","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/kenya-tops-the-chart-in-terms-of-p2p-crypto-trading-according-to-chainalysis\/","title":{"rendered":"Kenya tops the chart in terms of P2P crypto trading according to Chainalysis"},"content":{"rendered":"\n
According to Chainalysis' most recent survey, Kenya rated first in the world <\/a>on the peer-to-peer exchange trade index.<\/h5>\n\n\n\n
\"Kenya<\/figure>\n\n\n\n

Kenyan citizens topped the charts with their record-breaking P2P trade data\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, according to the Global Crypto Adoption Index 2021, which surveyed 154 countries to examine global crypto adoption.<\/p>\n\n\n\n

Furthermore, Kenya and Nigeria are ranked first and second in Africa, as well as fifth and sixth internationally, in terms of crypto usage.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

The outlier P2P crypto trade statistics, on the other hand, are a result of Africa's falling currency<\/a>, which has resulted in inflation.<\/p>\n\n\n\n

Since January of this year, the Kenyan currency has declined by 6.3 percent versus the US dollar, according to the Central Bank of Kenya.<\/p>\n\n\n\n

\u201cMany emerging markets face significant currency devaluation, driving residents to buy cryptocurrency on P2P platforms to preserve their savings,\u201d according to the report.<\/p><\/blockquote>\n\n\n\n

Nonetheless, the African currencies have not yet suffered a significant depreciation in value this year. This suggests that African residents are turning to peer-to-peer crypto trading in order to make overseas transactions more economical and convenient<\/a>.<\/p>\n\n\n\n

P2P exchanges enable people in Africa to avoid the increasing expenses of international money transfers.<\/p>\n\n\n\n

\u201cCryptocurrency gives those residents a way to circumvent those limits so that they can meet their financial needs,\u201d stated the report\u2019s authors.<\/p><\/blockquote>\n\n\n\n

The data does not show the absolute trade quantities by country, according to Chainanlysis. However, the company has taken transaction data from two of the largest and most popular peer-to-peer systems, LocalBitcoins and Paxful, which should be sufficient to provide a near approximation.<\/p>\n\n\n\n

\u201cWhile this means that we aren\u2019t capturing all P2P value, we believe these two exchanges<\/a> are popular enough for their metrics to act as an overall approximation,\u201d, mentioned Chainalysis.<\/p><\/blockquote>\n\n\n\n

Kenyan adoption of cryptocurrency may be unavoidable due to the country's economic conditions, but it has also provided residents with the opportunity to modify their economic lifestyles.<\/p>\n\n\n\n

Emmanuel Kahindi, a 26-year-old Kenyan farmer, is selling his products and purchasing supplies using the Kenyan cryptocurrency Sarafu<\/a>.<\/p>\n\n\n\n

Kahindi emphasizes that cryptocurrency has allowed him to save his money while simultaneously earning cryptocurrency.<\/p>\n","protected":false},"excerpt":{"rendered":"

According to Chainalysis’ most recent survey, Kenya rated first in the world on the peer-to-peer exchange trade index. Kenyan citizens topped the charts with their record-breaking P2P trade data , according to the Global Crypto Adoption Index 2021, which surveyed 154 countries to examine global crypto adoption. Furthermore, Kenya and Nigeria are ranked first and […]<\/p>\n","protected":false},"author":12,"featured_media":8836,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26],"tags":[4092,132,1503,4093],"class_list":["post-8830","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrencies","tag-chainalysis","tag-crypto","tag-kenya","tag-p2p"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/08\/Kenya-tops-the-chart-in-terms-of-P2P-crypto-trading-according-to-Chainalysis.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/8830","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=8830"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/8830\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/8836"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=8830"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=8830"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=8830"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}