How to Use Binance if You Are in Africa - Top article altcoinbuzz.io - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from altcoinbuzz.io Daily Mail and Mail on Sunday newspapers.
Africa’s biggest crypto market, Nigeria keeps gaining momentum in spite of its exclusion from Nigeria’s financial ecosystem. This reflects dwindling faith in Nigeria’s traditional financial asset classes.
Adding credence to such bias is data retrieved from Paxful. The global leading Peer to Peer trading platform reveals Africa’s biggest economy and home to over 200 million people has now become its biggest market with 1.5 million users. In just four months, about $1.5 billion worth of Bitcoin exchanged hands.
In addition, data retrieved from Google revealed that Nigeria is the only country with a perfect score in regards to its interest in the flagship crypto.
Ethereum has been gaining an amazing amount of traction in recent weeks, with the second-largest cryptocurrency by total market capitalization, showcasing gains of 50+% over the last 30-odd days. Furthermore, even the Ether derivatives market seems to be growing fairly rapidly, with an increasing number of investors now dabbling into ETH futures.
However, before proceeding any further, it would be best to understand what exactly a futures contract is.
Simply put, it is a ‘derivative product’ that establishes an agreement between two individual entities to buy or sell an asset at a future date, for a set price. As a result of this agreement, traders are afforded the ability to speculate on the future valuation of any asset.