Apparently Cuba is seeing an influx of Bitcoin (BTC) related activity: Interest in cryptocurrency is increasing in the country.
According to data from Google Trends, Cuba is the second country in terms of interest in Bitcoin for the past 30 days. The island nation follows Nigeria, which has been the top country for searches for Bitcoin on Google since April 2020.
The rest of Google’s top five regions to search for Bitcoin are the African countries of South Africa, Cameroon and Ghana.
The surge in searches related to Bitcoin in Cuba is due to reports that Cubans are increasingly turning to Bitcoin to circumvent US sanctions and gain access to digital financial services.. With large digital payments companies like PayPal and Stripe reportedly available to Cuban citizens, travel restrictions due to the coronavirus pandemic have made local payments even more difficult.
A local programmer and YouTuber at the end of October Erich García urged the nation to use Bitcoin for cross-border transfers. Anyone looking to send payments to the island should buy Bitcoin and send it through a Cuban crypto exchange called BitRemesas:
“We don’t have access to payment platforms like Stripe, Visa, Mastercard, Paypal or Union Pay. We have no access to anything, to any of these resources. What technology has made it possible for us to dream, to see other scenarios? Blockchain and Bitcoin. “
In April 2020, the Italian-Cuban businessman became Mario Mazzola launched the first decentralized bitcoin exchange in Cuba, Qbita. According to Mazzola The new exchange is designed to enable Cubans to buy and sell Bitcoin. as the main crypto services like LocalBitcoins and Paxful are not accessible in the country.
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