This week brought big news for fans of both coffee and cryptocurrencies. According to reports, a leading financial company has said that it will begin testing a consumer app for bitcoin purchases of coffee from a well-known international coffee chain. Testing of the app is set to launch in the first half of 2020. In other news, Avalon bitcoin miner maker Canaan filed for a $400 million Initial Public Offering this week. This attempted offering comes after two failed attempts to go public overseas in mainland China and Hong Kong. Chinese media outlets peg Canaan's valuation at between $2 billion and $3 billion. Finally, Binance has begun its rollout of a new payment service allowing international users to buy cryptocurrencies using local fiat. Last week, it added a Nigerian fiat-to-cryptocurrency gateway that allows consumers to enter the market using the Nigerian currency, Niaira.
Yet as cryptocurrency markets continue to develop, so do cyberthreats. Cryptocurrency-related crime is on the rise in South Africa, according to digital wallet provider Paxful. According to Paxful, there has also been a 64% increase in cryptocurrency trades occurring in Africa this month compared to October 2018. Meanwhile, the number of Americans who own cryptocurrencies has doubled since 2018, according to an Australia-based financial services company. According to a recent survey it conducted, an estimated 36.5 million people currently hold some form of cryptocurrency. The survey indicates the average cryptocurrency holder owns approximately $5,500 worth of digital currencies, but the median amount hovers at only $360. The survey also found that daily bitcoin transactions now amount to $9.6 billion per day, a figure that surpasses PayPal's yearly transaction volume ($578 billion in 2018) in just two months. The survey found that since Bitcoin's inception in 2009, $11 trillion in wealth has been transferred within the network.
For more information, please refer to the following links:
- Number of Americans Owning Crypto Doubled in 2019: Finder
- App to Literally Buy a Cup of Coffee With Bitcoin Set for 2020
- Bitcoin Transferred a Giant $11 Trillion Since 2009, New Data Reveals
- target=_blankAvalon Bitcoin Miner Maker Canaan Officially Files for $400 Million US IPO
- Eyeing African Market, Binance Adds Nigerian Fiat-to-Crypto Gateway
- Growth in Cryptocurrency Transactions in South Africa Calls for Stronger Security Measures
- P2P Crypto Trading Volume Increased 2800% in South Africa, Says Paxful
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