Bitcoin is Spreading Its Roots Across the African Continent - Trading Volumes on the Rise in Tanzania and Nigeria


Recent data from Coin.dance, a blockchain information portal that provides up-to-date metrics on various sectors of the Bitcoin ecosystem, suggest interest in the digital currency is rising in Tanzania and Nigeria.

Coin.dance charts show weekly LocalBitcoins volume has been on the rise in both countires since the beginning of July.

During the second week of July, there was a total of 83 million Tanzanian shillings (TZS) worth of trades on LocalBitcoins in Tanzania.


When converted into USD, the 83 million TZS comes out to $37,142. And in Nigeria, weekly turnover for the third week of July hit a new record high at 971,829,166 Nigerian naira ($3 million):


Of course the Tanzanian volumes pale in comparison to the weekly LocalBitcoins figures in other African countries like Nigeria and Kenya, however, the numbers coming out of Tanzania this month are indicating that Bitcoin is continuing to spread its roots across the African continent.

In terms of the actual amount of bitcoin that changed hands, Coin.dance says that Tanzanians exchanged about 14 BTC in the second week of July, and 9 BTC last week:


Tanzanian flag image by Nicolas Raymond, Bitcoin graphic by Razor-Forex








About Author: author Steve Todorov is the founder of Razor-Forex.com, an ardent digital currency enthusiast and Forex trader. Read More...

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