When looking at the top cryptocurrency markets in Africa, we can rely on several indicators to arrive at an educated guess of the countries with the most cryptocurrency adoption and interest.

Currently, most cryptocurrency activity on the continent happens through centralized channels like exchanges. These centralized platforms do not release data, breaking down the source of their volumes and traffic on the continent to the public, mostly for competitive reasons. This gap in crypto-specific data, coupled with the general challenging nature of collecting tech-related data on the continent, makes it difficult to reach an undebatable consensus on the top African cryptocurrency markets. However, some data aggregators have found ways to make an educated guess, which will influence the countries highlighted in this article.

For this article, we will rely on cryptocurrency ownership data from Singaporean cryptocurrency provider and aggregator Triple-A and various reports on interest in crypto and crypto-curious states from CoinGecko, a cryptocurrency data aggregator.

Data from Triple-A puts Nigeria at the top of African states with the most cryptocurrency ownership, followed by Kenya, South Africa, and Egypt.

According to CoinGecko, the countries most interested in cryptocurrency in 2023 on the African continent include Nigeria, South Africa, Morocco, and Ghana.

Furthermore, in a more global report on countries that are the most curious about crypto, Nigeria placed first, while Kenya placed 15th.

Combining the data from various aggregators and the latest crypto-related headlines from the continent, this article will primarily focus on Nigeria, South Africa, Ghana, Kenya, and Morocco as the top cryptocurrency markets in Africa.