Across the world, more people are searching the internet for information on how to use Bitcoin or about investing in cryptocurrency.
According to a report by Google, searches for how to “buy bitcoin” is now a more popular search term than “buy gold.” This is hard to understand as Bitcoin in the last six month has increased by over 600 percent while Gold only appreciated by 11% percent.
As the virtual currency hits over $7,000 ($7,193 as at November 8, 2017), google trend shows these five countries as most interested in Bitcoin trading across the globe.
1. SOUTH AFRICA
The high interest of South Africans in trading virtual currency is not a surprise as the country is leading its integration in the country’s financial system.
South Africa has one of the most advanced financial systems across the globe, as most people in the county see the digital currency as an alternative to banks account and credit cards. There is Etheurum trading the country which allows for direct trading of Bitcoin using Rand.
Eastern Europe is leading parts of the world with increasing interest in Bitcoin. Slovenia is one of the leaders in the push.
Bitcoin trading in the country also spikes in both price and volume within the last few month.
Another Eastern European country looking into Bitcoin is Estonia. The country’s interest in embracing blockchain technology is also very high, thus explaining the increase in demand for Bitcoin.
The volume of local Bitcoin trading is very high, and many google searches from the country are intended towards Bitcoin.
Bitcoin demand in Ghana has also surged in recent time. This is as a result of investment returns offered by the virtual coin.
There is a high rate of advertisement in the country about Bitcoin just like Nigeria, thus making a lot of people took the Internet to get more information about Blockchain and cryptocurrency.
For Nigeria, the popularity of Bitcoin is driven by both high advertisement and its high returns on investments. At present, there is widespread awareness about trading the virtual currency in Nigeria.
Also, Etheurum acceptance of Naira has also contributed to the growth of cryptocurrency in Nigeria.