- Africa and South America have the highest searches for Bitcoin
- Search interest in Bitcoin is highest in Kenya and Brazil respectively
- South Africa has 13% of crypto ownership in Africa
Cryptocurrency News Today – reports show that Africa and South America have the highest searches for Bitcoin. According to data compiled by Google Trends, the highest search interest in Bitcoin is in Kenya and Brazil. There is an interactive map that displays the level of crypto interest around the world.
The map reveals that Bitcoin has the most concentrated search countries in South America and Africa. According to the map which was published with Google Trends data at Blockchaincenter.net, Bitcoin dominates search interest in the African continent. Note that over 94.7% of all searches for cryptocurrencies in Africa include:
“Bitcoin, Bitcoin Cash, Cardano, Dogecoin, Ethereum, IOTA, Litecoin, Monero, XRP, and Tron.”
The leading searches for cryptocurrency in Kenya are for Bitcoin. Meanwhile African giants South Africa and Nigeria both hold high percentages of 89% and 89.4% respectively.
Cryptocurrency Adoption in Africa
The search also indicates that countries in Africa will become key to the major cryptocurrency players in the future. Recall from an earlier report that a Nigerian lawmaker has called for a substantive legal framework for digital assets in 2019. The proposal was made by the speaker of the Nigerian House of Representatives a part of the country’s National Assembly.
South Africa on the other hand has over 13% of crypto ownership in the African continent. This figure is reportedly the highest among all internet users living in the region. Back in April, South Africa’s top financial regulator issued a policy document that asserted that digital assets and all activities relating to digital currencies can no longer happen outside the country’s regulatory perimeter.
South America Has Four Countries in the Top Ten Bitcoin Maximalist Nations
Meanwhile, South America has four countries among the top ten states who are most ‘Bitcoin maximalist’ compared to three in Africa. Brazil reportedly has the highest search interest of 92.6% in Bitcoin. Both Chile and Ecuador have roughly 89% search interest in Bitcoin. Argentina had the least interest among the top ten in South America at 87.7%.
From another angle, it is safe to say the coronavirus pandemic may have sparked an increase in the demand for digital assets in these nations. Recall from an April report on cryptocurrency that the BTC peer-to-peer trading volume in three countries in the continent:
“Argentina, Venezuela, and Chile had reached all-time highs.”
Venezuela didn’t make it into the top ten on the map mentioned above. However, Bitcoin’s search interest in the country was still as high as 75.2%. Experts believe that recent interest in BTC in Venezuela may be as a result of the suspension of the country’s banking sector due to quarantine.