Eastern Europe’s largest cryptocurrency exchange platform Bitzlato is looking to expand its presence in Africa as it targets the continent’s young population who are tech-savvy and deeply interested in new technologies such as cryptocurrencies.
In a recent interview with Kenyan Wallstreet, Bitzlato’s Chief Marketing Officer Aleksandr Honcharenko said Africa is similar to Eastern European countries such as Russia, Ukraine, Kazakhstan where the crypto platform has grown to be the largest exchange in form of peer to peer trading volumes.
Aleksandr says that People in Eastern Europe just like in Kenya and Nigeria, where Bitzlato currently operates, are also generally very tech-savvy adding to the popularity of cryptocurrency there.
Trends in Crypto in Africa
According to Aleksandr, women have also been at the forefront of the adoption of cryptocurrency in Africa. The exchange launched in Kenya in 2020 and is active in the Nigerian market which is considered the world’s largest crypto market followed by Russia.
The crypto platform is also looking at Ghana and South Africa with a view of expansion in the coming years.
The Bitzlato executive also adds that Nigerians usually trade with Russians due to more interesting rate for crypto and there is more liquidity from Nigeria compared to other countries.
“By our estimations, the amount of money that was sent from Nigeria to Kenya for cryptocurrency per week is $2 Million,” Says Aleksandr about the company’s recent partnership with Lemonade Finance.
The main feature of the Bitzlato cryptocurrency exchange resource is the P2P opportunity. Peer-to-peer is a decentralized network which works on a person-to-person principle. In the case of the platform, P2P means that the exchange occurs between two individuals registered on the platform.
Some of the most popular cryptocurrencies traded on Bitzlato include; Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Dash (DASH), Tether (USDT), Monolith Ruble (RUBM) and Dogecoin (DOGE).
You can listen to Our interview with Bitzalto’s Chief Marketing Officer below.