Binance to Launch Africa Crypto Awareness Tour as Adoption Ramps Up
With a 1,200% rise in received crypto volume from 2020 to 2021, the quick adoption of digital assets in Africa has caught the attention of numerous companies and organizations hoping to take part in this thriving market. Binance will launch the Africa Crypto awareness tour as adoption ramps up.
Blockchain and Cryptocurrency Awareness Tour (BCAT)
The Blockchain and Cryptocurrency Awareness Tour (BCAT) is a Binance-powered ongoing awareness campaign spreading knowledge and cultivating a solid crypto community in Africa scheduled to take place in June.
Binance hopes to extend this campaign to university students, mainly in southeast Nigeria; the campaign aims to expand crypto adoption among Nigerian youth, the predominant age group in the country.
The major event will be held on June 4 at the Amadeo Event Centre in Enugu, Nigeria. Other ends on tour comprise Uganda, Ghana, and Cameroon.
Binance began the BCAT tour in 2019 and claimed to have extended the campaign to over 60,000 Nigerians. This year’s event will concentrate heavily on concepts pertained to play-to-earn, which are the Metaverse and non-fungible tokens.
A new report reveals venture funding for African cryptocurrency startups grew 11x in 2022.
How are these projects raising funds? @ghcryptoguy will be hosting @Naicker_94 and @gideongreaves from CV VC (Africa) to discuss this and more.
Tune in: https://t.co/KVk6yiwosZ pic.twitter.com/ZxLiCUUa2C
— Cointelegraph (@Cointelegraph) May 25, 2022
Despite being the smallest cryptocurrency economy globally as per market penetration, Africa is adopting digital assets at a rapid clip as locals look for new alternatives to unstable financial infrastructure and a lack of payment onramps. Remittances, peer-to-peer payments, and savings have arisen as significant adoption drivers for residents, according to data from Chainalysis. Synonymous with Argentina, numerous Africans took Bitcoin (BTC) and other cryptocurrencies as a breakout from government policies and inflation.
BCAT Africa 2022 is also hoping to achieve the need for a common crypto conversation space, mainly where most central banks have banned or strictly regulated cryptocurrencies, which directed many Africans to peer-to-peer systems, which have grown in popularity.
Binance is a prominent online cryptocurrency exchange founded in 2017 where users can trade their cryptocurrencies. It supports the most notable traded cryptocurrencies and provides a crypto wallet for traders to store their tokens.
The exchange also provides a supporting service for users to earn interest and transact using cryptocurrencies. It also offers programs for miners to help traders make investment decisions. Binance has its blockchain-based token, Binance Coin (BNB).