In recent years, cryptocurrency has gained traction in Africa. Between July 2023 and June 2024, Sub-Saharan Africa represented about 2.7% of the global cryptocurrency economy, the world’s smallest. However, by 2026, the market is expected to reach 75.77 million users. That said, the revenues are expected to gradually grow, with a projection of US$4.8bn in 2025 and US$5.1bn by 2026. So, which are the most used cryptocurrencies in Africa?
Bitcoin (BTC)
Bitcoin is among the most used cryptocurrencies in Africa. In the largest markets, about 32% in Nigeria, more than three million in Kenya and 6.3% of South African crypto users. The owners frequently use Bitcoin for remittances from the diaspora, digital asset savings and peer-to-peer trading. Binance P2P and Paxful are the biggest platforms used.
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Ethereum (ETH)
Ethereum is the world’s second-largest cryptocurrency and is gaining traction across Africa. In Nigeria, Ethereum is among the top-used cryptocurrencies among 84% of owners. In South Africa, of the 11% who have this digital asset, 3.5% have Ethereum, which translates to about 157,500 ETH holders, and across the continent, about 8 to 10 million use it. Ethereum is widely used for decentralised finance and apps, collectables and web3, and as a payment tool.
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Tether (USDT)
Tether (USDT) is increasingly growing in Africa. According to a study by the International Monetary Fund (IMF) and Kenya’s Capital Markets Authority (CMA), 49% of all stablecoin usage in Kenya is in USDT, while 43% of all crypto transactions in Sub-Saharan Africa involve stablecoins, according to Chainalysis. This results from offering stability and instant transactions whose costs are more than 60% lower than traditional remittance methods.
Binance Coin (BNB)
Binance Coin (BNB) is among the most used cryptocurrencies in Africa. In Nigeria, there are about 4–5 million BNB holders and around 1–1.5 million holders in Kenya and South Africa. From this, about 6 to 8 million people hold BNB in Africa. It’s mainly used because it has trading fee discounts, low-cost decentralized finance usage, and local currency support. Moreover, the Binance education programs have increased their popularity, with their Masterclass reaching 400,000 people.
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USD Coin (USDC)
USD Coin (USDC) is another stablecoin gaining popularity in Africa. With a 43% usage of total crypto transaction volume in Sub‑Saharan Africa, USDC is one of the most used. In Kenya, its uptake is tied to remittances and cross-border payments through M-Pesa, in South Africa, it’s used for liquidity and across Africa, it’s used through platforms such as Chipper Cash, Yellow Cards and Institutional and fintech platforms.
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Ripple (XRP)
According to Crypto Rank, Ripple (XRP) is already used in 13 African countries – Benin, Burkina Faso, Cote d’Ivoire, Egypt, Ghana, Kenia, Mali, Niger, Nigeria, Senegal, South Africa, Togo and Uganda. Its popularity stems from Ripple’s payments solution, On-Demand Liquidity, and partnering with local financial institutions and fintechs to bring the benefits of better cross-border remittances to the region, including regional payment interoperability and seamless money movement across the continent.
Cardano (ADA)
Cardano (ADA) joins the list of the most-used cryptocurrencies in Africa. It has positioned itself uniquely in Africa with long-term development projects. For example, in Ethiopia, it works with the government on a blockchain-based education credential system. In Kenya and Tanzania, IOHK, Cardano’s parent company, announced initiatives to boost local blockchain adoption.
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Closing Thoughts
These are the most used cryptocurrencies in Africa. Their popularity is rising because they provide practical solutions such as cross-border payments, inflation-resistant savings, and cost-effective money transfers. Bitcoin remains king, but stablecoins like USDT and USDC, and utility tokens like BNB, ETH, and ADA are quickly transforming how Africans interact with money.
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