Executed 6 million transactions or 16, 000 transactions daily
Represented 25% of the total global trade volume
Nigeria was therefore Paxful’s leading market based on trading volumes.
According to Paxful, global trading volumes were $3 billion. Thus, Nigeria’s $760 million represented just over 25% of total trade volume for Paxful in 2021.
Going further into the data, Paxful indicated that Nigerians traded over $400 million within the first half of 2022, and the 2022 volume is on – course to surpass 2022 volume. Paxful said that this trend demonstrates that ‘the emerging markets are still hungry for Bitcoin.’
The P2P platform also saw the growing performance as a good indicator, saying that ‘despite the global financial crisis, Paxful is seeing that peer-to-peer and interest in Bitcoin are not slowing down.’
While there are other P2P players in Nigeria, such as Binance and BuyCoins, Paxful is the only P2P exchange P2P exchange that has published its data and made it available to the public.