BCAT Africa 2022: Binance To Launch Africa Crypto Awareness Tour As Adoption Ramps Up

BCAT Africa 2022 aims to increase crypto awareness on the continent at a time when more Africans are turning to digital assets. 

iexclusivenews reports that the accelerating adoption of digital assets in Africa, has attracted the interest of various corporations and organizations eager to participate in this booming sector. With a 1,200 percent rise in received crypto volume between 2020 and 2021. 

This online news outlet understands that the Blockchain and Cryptocurrency Awareness Tour (BCAT). Which will take place in June. Is a Binance-backed continuous awareness campaign that has been sharing knowledge and attempting to build a strong crypto community across Africa.

The initiative intends to encourage crypto acceptance among Nigerian youth.

The country’s most populous age group, by reaching out to university students, particularly in Southeast Nigeria. 

Meanwhile, iexclusivenews Nigeria reports that on June 4, the main event will be held at the Amadeo Event Centre in Enugu, Nigeria. Uganda, Ghana, and Cameroon are among the countries visited on the voyage. 

A new report reveals venture funding for African cryptocurrency startups grew 11x in 2022.

How are these projects raising funds? @ghcryptoguy will be hosting @Naicker_94 and @gideongreaves from CV VC (Africa) to discuss this and more.

Tune in: https://t.co/KVk6yiwosZ pic.twitter.com/ZxLiCUUa2C

— Cointelegraph (@Cointelegraph) May 25, 2022

Binance’s BCAT tour began in 2019 and has reportedly touched over 60,000 Nigerians. The focus of this year’s event is on concepts like as play-to-earn, the Metaverse, and nonfungible tokens. 

Despite being the world’s smallest crypto economy in terms of market penetration.

Africa is accelerating its adoption of digital assets as residents seek alternatives to inadequate financial infrastructure and a lack of payment onramps.

According to statistics from Chainalysis, remittances, peer-to-peer payments, and savings have emerged as important adoption drivers for local citizens. 

Many Africans, like their counterparts in Argentina, regard Bitcoin (BTC) and other cryptocurrencies as a way to avoid government policies and inflation. 

Related: Backed by Coinbase and Alameda, African exchange MARA eyes continental prospects

BCAT Africa 2022 also aims to address a gap in the market for a common crypto discussion space, especially in a region where most central banks have either banned or heavily regulated cryptocurrencies, leading many Africans to turn to peer-to-peer networks, which have risen in popularity.