Skip to content

Interest in Bitcoin searches is highest in Africa and South America

June 16, 2020

An interactive map showing global interest in cryptocurrencies shows this Bitcoin search is more focused on countries in Africa and South America.

According to the map published on Blockchaincenter.net Google Trends data shows that Bitcoin (BTC) dominates search interest in Africa. 94.7% of all cryptocurrency searches – including BTC, Bitcoin Cash (BCH), Cardano (ADA), Dogecoin (DOGE), Ethereum (ETH), IOTA, Litecoin (LTC), Monero (XMR), XRP and Tron (TRX) – in Kenya they are for Bitcoin, and Nigeria and South Africa also had a high percentage of 89.4% and 89%, respectively.

Top 10 most Bitcoin maximalist countries

Interest in Bitcoin searches is highest in Africa and South AmericaInterest in Bitcoin searches is highest in Africa and South America

Source: Blockchaincenter.net

Crypto adoption in Africa

The search shows that African countries could become key players for cryptocurrencies in the future. Cointelegraph reported this The spokesman for the Nigerian House of Representatives called for the establishment of a substantive legal framework for cryptocurrencies in July 2019.

However, South Africa has 13% of cryptocurrency owners in Africa, the highest percentage of internet users in the region. In April, The country’s financial regulator released a regulatory document stating that crypto assets and virtual currency-related activities “can no longer remain outside the regulatory arena.”

Bitcoin is responding to the pandemic

South America had four countries among the ten “Bitcoin maximalists”. Brazil had the highest BTC search interest of 92.6%, while both Chile and Ecuador had about 89%. Argentina had the lowest interest of the top ten in the region with 87.7%.

The corona virus pandemic seemed to be causing increased demand for cryptocurrencies in these countries. Cointelegraph reported in April that BTC’s peer-to-peer trading volume in Argentina, Chile and Venezuela had reached an all-time high.

Venezuela was not among the top ten on the map, but interest in finding BTC in the region was still 75.2%. Recent interest may be due to the suspension of the national banking system as part of the quarantine measures.

Do not stop reading: