Binance, the largest crypto exchange globally, plans to conduct a crypto awareness tour in Africa. The tour (BCAT Africa 2022) aims to increase the knowledge of Africans regarding crypto as its adoption in the continent is on the rise. There has been a 1200% increase in crypto volume between 2020 and 2021 in Africa. This massive increase in volume has captured the attention of a lot of companies, and Binance is one of them. Africa still has a lot of untapped potential and with this awareness tour, Binance is trying to unlock it.
Binance’s crypto awareness tour
The tour is planned for June 2022 and is called BCAT (Blockchain and Cryptocurrency Awareness Tour). Binance wants to spread knowledge and build a strong crypto community during this tour. Their main target audience is the youth here, as they are planning to reach out to University students primarily in southeast Nigeria. There are 4 stops in the event, and the main one is Enugu, Nigeria, where Binance will be present on June 4th. They will also come to Uganda, Ghana, and Cameroon.
The main topics that Binance is going to talk about in this awareness program are Metaverse, Play-to-earn, and NFTs. These are the most popular topics in the crypto industry and present a lot of opportunities from an investment perspective.
African citizens are becoming dependent on crypto
Africa is one of the smallest crypto economies, but the citizens are becoming increasingly dependent on crypto. They treat them as an alternative to the weak payment and financial infrastructure in Africa. In fact, the use of P2p payments, remittances, and savings with crypto has also become very popular among Africans. They have found an escape from high inflation and government policies in crypto.
So, sooner or later, as more people start to understand what the industry is all about, the adoption will rise. The biggest barrier to this would be the central banks that have restricted the use of cryptocurrencies, and most Africans are using P2p systems for transactions. This shows they are tech-savvy enough to use crypto the way it’s actually intended to.
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