Saturday, November 28, 2020
coincasso bitcoin exchange banner
Home Why are Bitcoin-related phrases most frequently searched in Africa and South America?

Why are Bitcoin-related phrases most frequently searched in Africa and South America?

Data from the Blockchain Center show that Brazilian and Kenyan citizens are most interested in Bitcoin.

Popularity of BTC 

An interactive analytical map based on data from Google Trends shows the level of interest in Bitcoin around the world, showing that searches for Bitcoin-related phrases are the highest in Africa and South America. Kenya, Brazil and Chile are on the podium in the number of searches for topics related to the world’s largest crypto.

Bitcoin top countries search term bitcoin

source: BlockChainCenter

Crypto adaptation in Africa

Search data indicate that African countries may become key cryptic players. Cryptos in those areas are developing very fast and due to the interest of the big players, Africa will certainly accelerate with crypto development in the coming years.

Africa is one of the most interested country in crypto
The largest crypto exchange, Binance, sees great opportunities in the African market and has been developing its services there since 2018, despite the difficulties on the market.

A member of the Nigerian House of Representatives called in July 2019 for a new legal framework for cryptocurrency. For a long time there has been no response from the authorities, but as early as April this year, the financial supervisory authority issued a strategy document that says that cryptocurrencies can no longer remain outside the regulatory area since as much as 13% of all cryptos belong to African residents.

Africa payments fees banks and need for cryptocurrencies

A large proportion of payments in Africa are now based on free money transfer systems that charge huge transaction fees. They are around 9-11%, and this only shows that Africa needs new solutions. Bitcoin currently has very low transaction fees, so sending every amount of BTC will be less than $0.60, and this certainly encourages network users residing in Africa. 

Asia choice

Bitcoin is by far the most frequently searched token among all cryptos but it seems interesting to note that Asia, according to data from Blockchain Center, is most open to other resources such as XRP, Cardano, Tron or IOTA. This may be largely due to the stereotype of gamblers in those areas and the numerous restrictions on Bitcoin use.

Countries in Asia are interested in alternatives of Bitcoin

Bitcoin and its impact on the pandemic

The COVID-19 pandemic seems to increase demand for cryptocurrency in countries interested in decentralised digital money. In April, when the pandemic was still a very fresh event, BTC’s turnover volume was the largest in Argentina, Chile and Venezuela from the very beginning, and cryptic searches have been reaching new heights.

Africa need for crypto

Mass printing of money reducing the value of fiat, sensitized the market and showed that traditional assets are not as safe as you might think. In addition, the lack of bank accounts for the majority of Africans and all the signs indicating the security of the Bitcoin resource are encouraging many African citizens to take an interest in and invest in the cryptocurrencies. We will certainly see the African crypto and blockchain technology market flourish in the near future.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Sidebar Widget
USD
EUR
PLN
RUB
bitcoinBitcoin (BTC)
$ 17,223.75
ethereumEthereum (ETH)
$ 517.56
tetherTether (USDT)
$ 1.00
rippleXRP (XRP)
$ 0.562402
bitcoin-cashBitcoin Cash (BCH)
$ 268.83
litecoinLitecoin (LTC)
$ 70.91
tronTRON (TRX)
$ 0.029483
moneroMonero (XMR)
$ 117.27
dashDash (DASH)
$ 97.04
eosEOS (EOS)
$ 2.89
dogecoinDogecoin (DOGE)
$ 0.003361
bitcoinBitcoin (BTC)
14.466,83
ethereumEthereum (ETH)
434,72
tetherTether (USDT)
0,839935
rippleXRP (XRP)
0,472381
bitcoin-cashBitcoin Cash (BCH)
225,80
litecoinLitecoin (LTC)
59,56
tronTRON (TRX)
0,024764
moneroMonero (XMR)
98,50
dashDash (DASH)
81,51
eosEOS (EOS)
2,43
dogecoinDogecoin (DOGE)
0,002823
bitcoinBitcoin (BTC)
64,738.22
ethereumEthereum (ETH)
1,945.33
tetherTether (USDT)
3.76
rippleXRP (XRP)
2.11
bitcoin-cashBitcoin Cash (BCH)
1,010.44
litecoinLitecoin (LTC)
266.53
tronTRON (TRX)
0.110817
moneroMonero (XMR)
440.78
dashDash (DASH)
364.74
eosEOS (EOS)
10.86
dogecoinDogecoin (DOGE)
0.012633
bitcoinBitcoin (BTC)
1,303,333.18
ethereumEthereum (ETH)
39,164.13
tetherTether (USDT)
75.67
rippleXRP (XRP)
42.56
bitcoin-cashBitcoin Cash (BCH)
20,342.55
litecoinLitecoin (LTC)
5,365.81
tronTRON (TRX)
2.23
moneroMonero (XMR)
8,873.90
dashDash (DASH)
7,343.08
eosEOS (EOS)
218.69
dogecoinDogecoin (DOGE)
0.254329
Sidebar Post
coincasso bitcoin exchange banner

Latest News

CBDC becoming more and more popular

More and more countries are planning and developing the emission of their own crypto. Lithuania announces the launch of its CBDC in July, while...

Bitcoin versus gold, what is a better investment?

Since the global COVID-19 pandemic, people have been looking for an alternative to keeping their savings in their domestic currencies. Some of them choose...

The Medical University of California forced to pay the ransom

Hackers hacked into Medical University computers and demanded a ransom for unlocking the data. After not very fruitful negotiations, the hackers received 116.4 BTC. A...

Blockchain e-voting system was attacked

Bitfury working for the Russian government was attacked at the weekend. Are innovative solutions safe? Problems in the Russian voting system  The Russian system of voting...

Crypto-powered online game tournaments are the future of this market

The Counter-Strike stars will soon be taking part in a cryptographic tournament, while fans will be able to bet on the score with VRA...