Commodity staking has gained the interest of more than 80% African users on Mineplex marketplace, a new report says.
This number eclipses that of Asian users (23 percent), European users (14%), and Americans (9 percent) who find commodities staking intriguing. Mineplex Banking claimed this commodities staking option fills in as a zero-cost alternative to alternative loans and allows users to acquire products they can’t afford right away.
“The strong degree of interest among African users in the new financial instrument could be attributed to the necessity to reform the system of access to consumer products and their purchases for cryptocurrencies for residents of African nations,” the paper states.
The report claimed that African users’ apparent preference for staked crypto could be due to changing interests and inclinations.
To highlight this point, the paper used South Africa as an example of a country that typifies this interest in staked crypto, with the Economist reporting that 86 percent of the adult population had borrowed a loan.
Similarly, with commodity staking, African consumers, who are faster and more eager to try new tools, can buy devices and gadgets for as little as 10% of their original price, according to the survey. The remaining monies for the purchase are obtained, according to the article, by staking available capital. At the end of the staking period, the products are delivered.
According to the report, South Africans can borrow from microfinance businesses that operate as online stores and marketplaces in addition to traditional financial institutions, which have strict debt payback schedules. These online retailers and marketplaces, unlike banks, allow consumers flexible payment arrangements.