Kenya Ranked 3rd in Africa and 23rd Globally in Bitcoin Trading Volumes as of August 2018

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Kenya is Ranked 3rd in Africa with the largest Bitcoin traded volumes by localbitcoins.com

As the debate on whether to make cryptocurrencies legal or illegal in Kenya continues, a new report by localbitcoins.com, one of the most vibrant bitcoin and crypto trading platforms in the world, has revealed that Kenya is in 3rd position in bitcoin trading volumes in Africa.

On a global scale, Kenya seems to be ranked at number 23, with the United States, Russia, and the UK taking the top three positions respectively.

Other African countries that appeared on the top 50 countries leaderboard in trading volumes, included Morocco and Tanzania.

Below are the statistics as they stand according to the new report:

  1. Nigeria – $258M
  2. South Africa – $98M
  3. Kenya – $25M

 

The Town Drill-Down

Towns with the highest bitcoin trading volumes in Kenya

 

Looking at the numbers and drilling down even further, we find that the statistics reveal the most vibrant towns in trading as follows:

  1. Nairobi
  2. Nakuru
  3. Mombasa
  4. Eldoret
  5. Meru
  6. Thika

The above statistics however are just statistics from one trading platform. Recently, Binance, the largest crypto exchange launched its operations in Uganda as it looks to expand across Africa.

KuBitX, which had a successful launch in Nairobi, Kenya, is yet another crypto exchange that is expected to take Africa by storm.

These developments signal a growing rise, not only in Kenya, but across Africa, in cryptocurrency interest.

 

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