An interactive map showing the level of interest in cryptomonies around the world reveals that Bitcoin’s searches are more concentrated in African and South American countries.
According to the map published on Blockchaincenter.net, data from Google Trends shows that Bitcoin (BTC) dominates the interest in searches in Africa. 94.7% of all crypto-currency-related searches – including BTC, Bitcoin Cash (BCH), Cardano (ADA), Dogecoin (DOGE), Ethereum (ETH), IOTA, Litecoin (LTC), Monero (XMR), XRP, and Tron (TRX) – in Kenya are for Bitcoin, and Nigeria and South Africa also had high percentages, at 89.4% and 89%, respectively.
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Cryptoadoption in Africa
The search indicates that African countries may become key players in cryptomonies in the future. Cointelegraph has reported that the Speaker of the Nigerian House of Representatives called for a substantive legal framework for crypto-currencies to be established by July 2019.
However, South Africa has 13 per cent ownership of crypto-currencies in Africa, the highest percentage among Internet users in the region. In April, the country’s financial regulator issued a policy paper stating that cryptoactives and virtual currency activities „can no longer remain outside the regulatory perimeter“.
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South America had four countries among the ten most „Bitcoin maximalists“. Brazil had the highest search interest in Bitcoin Trader, at 92.6%, while both Chile and Ecuador had approximately 89%. Argentina had the lowest top-ten interest in the region, at 87.7%.
The coronavirus pandemic seemed to trigger a greater demand for cryptomonics in these nations. Cointelegraph reported in April that BTC’s peer-to-peer trade volume in Argentina, Chile, and Venezuela had reached historic highs.
Venezuela was not in the top ten on the above map, but interest in the search for BTC in the region was still 75.2%. The recent interest may be due to the suspension of the domestic banking system as part of the quarantine measures.