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Ghana | 2022

Cryptocurrency adoption in Ghana in 2022

View 2022 Report

3.01

%

of Ghanaians
own cryptocurrency

How many crypto owners in Ghana?

It is estimated that over 900 thousand people, 3.01% of Ghana’s total population, currently own cryptocurrency.

What is the nature of Crypto like in Ghana?

In Ghana, more than 80% of landowners lack official title deeds with the Land Commission of Ghana and most land is held customarily through oral agreements. To resolve this, Ghanaian start-up Bitland is using blockchain technology to mirror official title deeds, thereby boosting the integrity of the land records held with the Land Commission of Ghana. Bitland believes that after their land is clearly registered on the blockchain, landowners may finally be able to apply for loans and mortgages with their banks.

Crypto's rising popularity in Ghana

  • Bitcoin.com: P2P Bitcoin Trade Volumes Surge in Kenya and Ghana – April 2021
    According to new data, peer-to-peer (P2P) bitcoin trade volumes in Kenya and Ghana surged in Q1 of 2021, with the two countries now ranked second and third respectively. On the other hand, volumes in South Africa, which occupied second place in 2020, dropped marginally. Consequently, South Africa has now been relegated to the fourth position the data shows.

  • GhanaWeb: Cryptocurrency market now worth US$2 trillion – April 2021
    In just over two months, the market capitalization of the cryptocurrency market has doubled, according to price tracking website CoinGecko, as retail and institutional investors pile into the space. Bitcoin, the biggest digital currency, accounts for over 50% of the entire cryptocurrency market capitalization. Bitcoin has rallied over 100% this year alone, and that has helped drive the cryptocurrency market higher.

  • Cointelegraph: Ghana’s Central Bank Confirms It’s Still Looking to Pilot a Digital Currency – June 2020
    The Bank of Ghana (BoG) remains committed to piloting a central bank digital currency (CBDC), the bank’s first deputy governor has said. Dr. Maxwell Opoku-Afari made the comment during a virtual stakeholder workshop on payment systems and services, according to a report from GhanaWeb on June 8. This spring, the central bank established a Fintech and Innovation Office to foster development in the local industry, and has in recent years adapted its organizational structure to respond to major changes in the payments sector.

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