Africa and Asia lead as the top 10 countries to adopt cryptocurrency in 2021. As per P2P reports, over $105.6 billion of digital assets were traded in Africa between July and 2020 – June 2021. Hence, representing a growth rate of 1,200% year-on-year.
Overwhelmingly, the first and second highest crypto holders in the world as of 2020 are Nigeria and Vietnam with the volume of 32% and 21% respectively, significantly higher than the USA’s 6%. The major drivers of this boom are a result of the unsatisfied need of these markets.
- Lack of Financial Infrastructure: Africa and Asia are the highest unbanked continents with nearly 70% of adults in countries such as Vietnam and Morocco not having a bank account. Not only that, just 42% and 44% of the Asia-Pacific region and Africa have access to mobiles. While people use their mobiles to make direct payments and trade with other crypto wallet owners, the decentralized nature of crypto makes financial infrastructure unnecessary.
- Unstable Currencies: In the last 5 years, several Asian and African countries have witnessed significant currency depreciation while at the same period Bitcoin and Ethereum rose over 500% and 2,900% respectively. Today, many individuals are turning to crypto-assets to beat inflation, maintain the purchasing power of their assets, and boost their incomes.
- Expensive Remittances: At over 8% Sub-Saharan Africa has the highest remittance costs in the world. This has led many to bypass the high fees and transfer remittances directly to P2P through crypto-wallets.
In addition, crypto astonishing growth has also been followed by a similar powerful trend such as the boom in mobile penetration and mobile app usage. In detail, Asia accounts for 64% of global mobile app downloads. The number of African mobile subscribers has grown to 477 million in 2019 and is expected to rise to 678 million in 2025. The number of mobile app installs in Africa increased by 41% from H1 2020 to H1 2021.
In Africa, WhatsApp is the most popular app, with a penetration rate of 97% in Kenya and 95% in Nigeria. Whilst WeChat is Asia’s most popular app, with over 1.23 billion monthly active users.
An innovative startup is capitalizing on the influx of crypto adoption and mobile utility boom by exploiting the power of Blockchain to offer an unparalleled secure and user-friendly messaging app — Secretum.
Secretum: Combining the Power of Mobile and Crypto
Secretum is a fully decentralized, encrypted, and secure messaging DApp (Decentralised App), built on the Solana Blockchain. It allows users to exchange messages and trade crypto assets as easily as sending an SMS.
Some major advantages are as follows:
- All messages are fully encrypted and stored on verified nodes in the Secretum network. This means hackers can’t access them as they would on cloud-based messaging services like WhatsApp.
- It only needs users’ crypto wallet addresses, making it the most secure and anonymous sign-up process. By this process, the risk of private data leaks or government interference, common in most African and Asian countries, is eliminated.
- Offers staking and rewards with the native SER token for users who message and provide nodes to expand the Secretum network.
- Entirely P2P trading with an intuitive, easy-to-send and receive cryptocurrencies and Non-Fungible Tokens (NFTs) interface.
- Thanks to Solana’s capacity for 50,000 transactions per second and an average cost per transaction of only $0.00025, Secretum has record low fees and almost instant trades.
Moreover, Secretum’s strategic vision is to become the go-to messaging and crypto app for Asia and Africa by combining the superior messaging app in terms of safety with highly versatile crypto trading capabilities.
Secretum Is the Perfect Trading & Messaging Solution for Asia and Africa
Secretum’s over-the-counter (OTC) P2P trading capabilities bring unique benefits to crypto-asset owners both in Africa and Asia as its Blockchain-messaging capabilities transform communications.
- High Liquidity: Traders can find hidden liquidity and contact each other directly in crypto markets. Thus, upgrading execution times and reducing slippage.
- NFT Trading: Secretum allows NFT owners and traders to contact each other via their wallet address alone securely, directly, and at the lowest fees on the market. This would open a completely new asset class for African and Asian crypto owners to diversify their assets and protect their wealth.
- High User Friendliness: P2P is already the dominant form of crypto trading today. Therefore, the market is accustomed to using P2P mobile solutions to exchange money, trade, and communicate. As a result, Secretum taps into this well-established market but with a technologically superior solution.
Furthermore, as mobile and crypto penetration keeps surging in Africa and Asia, Secretum will provide a rare crypto trading and messaging solution. Secretum is positioning itself as the app of choice for 3 billion people in the world’s youngest and most dynamic markets by leveraging this solution.
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