Nigerian Exchange BuyCoins Records Over 2x of Highest Trading Volume

Hybrid Nigerian cryptocurrency exchange, BuyCoins Africa recorded over $17M in trading volume in May, destroying the previous high of $7.6M.

Timi Ajiboye, CEO of BuyCoins Africa to announce the trading statistics for the month of May, which he described as “crazy.”

Just crossed $17m crypto traded on @buycoins_africa in one month.

A few more days to go. Likely going to cross $20m at this rate. This May is crazy. By far the best month ever.

Second highest month was $7.6m.

I already cannot wait to beat this month.
— Timi Ajiboye (@timigod) May 28, 2020

Ahead of the bitcoin halving, several cryptocurrency exchanges like Luno and Paxful recorded high trading volumes, with the latter seeing an all-time high. The reason attributed to the spikes was the halving that happened on May 11, 2020, which could also be a contributing factor to similar growth on BuyCoins Africa.

BuyCoins Africa is a Nigerian cryptocurrency exchange established in 2017 by Timi Ajiboye, with the initial name ‘Bitkoin Africa’. BuyCoins Africa takes a hybrid approach to buying and selling cryptocurrencies, allowing users to buy from the regular exchange interface or the Peer-To-Peer platform.

The exchange has adopted new innovations in the cryptocurrency space recently. BuyCoins Africa launched a Nigerian Naira (NGN) backed stablecoin called NGNT. Further, the exchange launched support for USDC trading and a Telegram bot for traders to receive notifications in real-time.

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