- Crypto investors carted away about $163 billion 2021, the year largely seen as the year of cryptocurrency
- The United States of America, the United Kingdom and Germany are the top three leading countries in crypto trade followed by China
- In Africa, South Africa took the top spot with Nigeria missing among the top 50 as the country battles government regulations
2021 was the year of cryptos as investors made a whopping $162.7 billion in proofits, a report by blockchain analytics company, Chainalysis said. This is up by over 400 per cent from the $32.5 billion realised gain noticed in 2020.
The US, UK and Germany leading in crypto investment
Expectedly, investors in the United States took the major part of the profits accounting for approximately $47 billion of the total realised gains which are 29 per cent of the total amount, Nairametrics reports said.
Investors in the UK and Germany took the second and third spot, accounting for $8.1 billion and $5.8 billion respectively.
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Despite China placing a restriction on cryptos, the country took the 4th position in crypto transactions in the second quarter of 2021 as well as bitcoin mining in comparison to 2020 with $1.1 billion recording $5 billion in 2021. This is representing 354.6 per cent growth.
South Africa was the only African country to feature in the top 50, making about $827.6 in crypto gains. Nigeria was missing from the report.
Ether leads bitcoin in profit and volume trade
About 93 per cent of the gains were made trading in bitcoin and ether, the report says. It also stated that more gains were made in ether than in bitcoin, trading at about $76.3 in volume.
The crypto and blockhain analytics firm’s report says it is just a rough estimate of how much investors earned during the year in review based on chain analysis of moving funds, as against knowing the trading performance of every individual.
The firm said it tracks the difference between funds when they are sent to exchanges and when they are withdrawn, stating that the report is not perfect but it has calculated the gains at the individual or wallet level instead of service level.
I Love You: Romance scammers collected over N57bn in crypto last year
Legit.ng has reported that A new report from the Federal Trade Commission has shown that romance fraudsters took a total of $139 million in cryptocurrencies last year, which is five times the amount in 2020.
According to the Verge report the total number of victims lost at an average $9,770 in crypto out of trust for the partners.
Federal Trade Commission report noted that romance fraudsters typically create fake social accounts using images from the internet and then deceive victims into paying them money.