With Kenya and Brazil leading the list of top 10 countries with Bitcoin search, the East African country accounts for 94.7 percent of crypto coin searches with Nigeria, the next African country accounting for 89.4 percent and South Africa 89 percent.
Bitcoin search affirms that Africa is key to crypto future
This Bitcoin search data continues to back claims of enthusiasts and stakeholders who believe that Africa is the future of cryptocurrencies. Blockchaincentre.net data points out that Africa would be a key player in cryptocurrencies later in the future.
Last year, Nigeria joined the long list of countries set to legalize crypto with the speaker of the Nigerian House of Representatives, Ahmed Lawman, requesting that a proper legislative framework for crypto be put in place. South Africa, on the other hand, possesses 13 percent of crypto ownership in Africa. The country’s financial regulator earlier this year also proclaimed that crypto-assets and activities could not be left out of regulatory perimeters.
South America, BTC, COVID-19 pandemic
The Coronavirus pandemic no doubt has been a critical influence in crypto adoption this year globally, especially in Africa and South America. Four countries in the list of top 10 with Bitcoin search are South American nations. Brazil, with 96.2 percent, was ahead in the continent ranking second after Kenya.
Chile, alongside Ecuador, accounted for 89 percent as Argentina rank lowest in the chart with 87.7 percent. The pandemic has lead to a surge in demand for crypto in these countries. Reportedly, in April, peer-to-peer trading in Argentina, Chile, and Venezuela hit its all-time high.
Economic ridden Venezuela did not feature in the list of top 10 countries with Bitcoin search; however, crypto interest in the country has remained strong. Reportedly, the close of banks in the country as a way of preventing a surge in coronavirus cases has also lead to a rise in crypto demand in Venezuela.