Africa crypto users have developed a reputation for relying on cryptocurrencies to get around three key problems that are unique to the continent.
To get around costly currency exchange for trade across countries
To send remittances
To store the value of their investments
To grow the value of their investments as crypto prices continue to rise
However, according to Kucoin CEO, Johnny Lyu, African crypto users on the global crypto exchange are now showcasing maturity in terms of their crypto uses.
While the majority of Africa users on the platform are interested in spot trading, which according to the CEO has recorded 60% usage out of all KuCoin products, margin trading is also fast being embraced by that segment of KuCoin users.