A new study indicates that interest in Bitcoin is highest in Kenya globally, making it currently the most Bitcoin maximalist country globally.
The study, conducted by blockchaincenter.net, shows bitcoin search interest in Africa currently at 94.7% of all crypto searches.
SEE ALSO: Africa Becomes Second-Largest Region in P2P Bitcoin Trades After North America in May 2020
Among the top most Bitcoin maximalist countries from the study are:
- Kenya – 94.7%
- Brazil – 92.6%
- Chile – 89.8%
- Ecuador – 89.4%
- Nigeria – 89.4%
- South Africa – 89%
- Argentina – 87.7%
- Germany – 86.9%
- Morocco – 86.6%
- Poland – 86.4%
The repor draws parallels between bitcoin and altcoins popularity showing that while Bitcoin is predominantly popular in both Africa and South America, altcoins are largely more popular in Eastern European countries as shown below:
The new report seem to indicate that Africa is well positioned to becoming a key crypto player globally.
Having recently gone one position up to become the third-largest economy in Africa, after Nigeria and South Africa, Kenya also boasts the third highest number of bitcoin users in Africa behind Seychelles and South Africa.
Beyond Kenya though, interest on the continent is already being felt as many international exchanges and P2P platforms start to set up shop on the continent while offering African-specific product features. Some of these exchanges include:
A recent May 2020 data pointed to Africa as being the second-highest continent after North America in P2P bitcoin trading.
While the current Coronavirus pandemic has sparked greater demand for crypto in Africa, the recent highs in trading volumes, including the high sentiment for bitcoin in Kenya, may just be an indication of the potential the continent has when it comes to crypto adoption.
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