Representatives of Paxful, a peer-to-peer alternative to LocalBitcoins, said that using their platform in Africa, more than 17,000 peer-to-peer transactions occur per calendar day – as reported by the CCN news agency.
Most Paxful deals are made using iTunes and Amazon gift cards as payment methods. This indicates that people in Africa are acquiring Bitcoin and other Altcoins using gift cards that they can buy at their local fid.
Buying Cryptocurrency in Africa and Paxful
Africa is currently the main market for Paxful. According to the platform, they have come a long way to achieve such recognition. As CCN recently reported, Paxful plans to build dozens of specialized schools on the African continent. Schools will include blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details and cryptocurrency education so that the next generation will be prepared for a multifaceted economy.
The idea of Africa and other "non-banking" areas is that, just as they went from lack of communication services to widespread use of cell phones, they would miss the credit card era and go straight to cryptocurrency.
Although Paxful is not the only peer-to-peer platform that allows you to use alternative payment methods (such as gift cards), it seems to be the most active in Africa.
"(...) During 2018, about $ 300 million in iTunes gift cards were sold in African markets. This is our best tradingTrading
– is an economic term that means the process of independent trade, independent analysis of the market and the conclusion of trade transactions.Details pair. Amazon is in second place, with a score of about 165 million dollars." – from the Paxful statement.
More than 17,000 cryptocurrency transactions involving gift certificates from iTunes and Amazon occur on the African continent – this indicates that a bad economic climate is developing into a decentralized economic sphere.
Editor: Alyona Nabok