Nigeria Leads the Google Trends Search Data for the Word Bitcoin in 2020 Amidst Unclear Regulations in the Country.
According to the most recent data from Google Search and Google Trends Search for the word ‘Bitcoin’, in 2020, Nigeria once again ranks first leading the list of the top 10 countries searching for bitcoin in 2020.
Meanwhile, the federal government of Nigeria is yet to put up a legal regulatory policy concerning the use of cryptocurrency especially bitcoin and then blockchain technology.
The use of Bitcoin continues to surge even though the Central Bank of Nigeria previously said that cryptocurrencies like Bitcoin is a risk and not supported my the CBN.
Meanwhile, the search data shows that, among the top five destinations, Africa accounts for three out of the total.
The list of the top 10 countries are as follows:
Moreso, the breakdown in terms of the top cities with most searches is as follows:
Los Angeles, United States
London, United Kingdom
New York, United States
Moreso, Nigeria appears among the top 10 countries for the Ethereum Cryptocurrency google search data. Ethereum is the world’s second largest cryptocurrency.
This is not the first or second time that Nigeria is topping the google search data learderboard on the word Bitcoin. Nigeria is the most populous country in Africa and houses many top cryptocurrency companies in Africa.
Nigeria is the home of the Google Accelerator Launchpad helping techpreneurs and enthusiasm to leverage their skills. The city of Lagos is the Silicon Valley of Nigeria when it comes to tech.
Recently, Paxful, one of the largest bicoin kiosk in Africa, released a report in October 2019 saying that Nigeria accounts for up to 50 percent of Bitcoin to gift card trades on Paxful. So while Paxful generated $65 million, Nigeria accounts for almost $32.5 million.
Paxful also reports that the platform had new wallets created on its platform. This new wallets is over 800,000 wallets in number for the past 12 months with the majority of the 15 million trades growth coming from African countries – Nigeria, Ghana and Kenya.