|Africa conducted 6.5 million trades in 2018—an average of 17 000 trades a day|
| As we start 2019, it is an opportune time to reflect on the year that was and forge the way forward. The cryptoeconomy celebrated its 10th birthday in 2018, reaching a total market capitalization of approximately $138.6 billion (KSh 14.2 trillion).
In spite of a fluctuating market, a leading global peer-to-peer Bitcoin marketplace,saw an upswing in activity, driven by African consumers in which servicing the underbanked resulted in significant gains. Africa conducted 6.5 million trades in 2018—an average of 17 000 trades a day. Paxful aims to change the perceptions that held back consumers in Africa by reassuring Kenyans that its trade principles place security at the center of all operations to cultivate confidence in Bitcoin trading. Paxful’s Co-founders are optimistic about 2019 and share their expectations about the crypto world on a Paxful blog entry
Artur Schaback, Paxful Co-founder and COO on Paxful’s plans for the year ahead: “We remain passionate about facilitating financial inclusion to the underbanked and are awed by the progress made this year in achieving this goal. With only a small percentage of the global internet-active population currently trading in the crypto-space, the potential for expansion is great. The encouraging number of new users gained in 2018 in Africa alone proves the appetite for this technology. We’ve only just begun making inroads and are excited about the future.”
Paxful is a peer-to-peer bitcoin marketplace and bitcoinwallet that brings the sharing economy and frictionless cryptocurrency commerce within easy reach of everyone, especially the underbanked. It enables buyers to purchase bitcoin directly from sellers via more than 300 different payment methods, including gift cards, cash deposits, online wallets or debit/credit cards. Paxful secures users against fraud by employing two-factor authentication, the highest-level encryption, and holding funds in escrow until the seller has confirmed the payment. The mission of Paxful is to create a universal translator for money and a real alternative to the broken banking system. With the Paxful marketplace and wallet, there are no borders and no limits.