Paxful revealed its intention to assist get over 1 billion individuals onto the bitcoin network on Tuesday. Paxful is a peer-to-peer network that aims to make crypto more accessible to investors. The author of the Paxful story stated that they have been working hard to onboard millions of users and have now reached a milestone of ten million.
Misinformation and misconceptions, according to Paxful, are the key reasons behind bitcoin’s delayed acceptance. They did say, though, that adequate crypto education might swiftly drive increased acceptance. Paxful urged key opinion leaders and corporations to participate in this upward trend. Paxful’s key goal, according to their report, is to guarantee that more people are aware of bitcoin’s applications.
The company stated:
“This is how mainstream adoption will happen — it’s not about creating millionaires, but providing access to financial freedom to millions.”
The Paxful announcement focused on the African region while discussing bitcoin adoption. Africa is already dominating the world in Bitcoin adoption, according to the author. Kenya, Nigeria, South Africa, and Ghana are the African countries with the highest adoption rates, according to him.
According to the survey, Africa’s supremacy in Bitcoin is due to a variety of factors. For starters, almost 60% of Africans do not have access to financial services. Banking the unbanked has been hampered by issues such as hefty transaction costs for overseas transfers and inflation. The difficulties pave the way for Bitcoin’s adoption.
Paxful reports that bitcoin volumes have surged in Nigeria, Ghana, and Kenya. While other countries spread incorrect information about cryptocurrency, Africans are investigating real-world applications.
Paxful met Rachael, a Nigerian restaurant employee, as part of their effort to assist accelerate crypto adoption in Africa. They talked about Bitcoin with her, and she was interested in learning more. According to the press release, meeting Rachael introduced them to a larger group of people who were interested. Paxful later established Nigeria’s first crypto education facility.