Nigeria outperformed the rest of the world by the level of interest in Bitcoin over recent months

By Selena On Aug 7, 2020

According to a new study from Blockchain.com, Nigeria has seen the most significant flow of activity on its wallet application since April 2020. Specifically, it appears to have become one of the markets and the fastest growing Bitcoin – cryptocurrency in the world.

Nigeria shows the most significant interest in Bitcoin globally

According to Blockchain.com, Nigeria has been the best-performing country on its platform for the past three months. The report recorded a 60% increase in Blockchain.com web wallet usage in the region since April. Furthermore, Nigeria is the top country looking for Bitcoin on Google. According to data from Google Trends, Nigeria is leading the Bitcoin interest in the past 90 days to date. Following the country are several other regions in Africa, as well as Switzerland and Austria.

Top five countries by Bitcoin searches on Google worldwide | Source: Google Trends

While Nigeria has been the best-performing country on Blockchain.com in recent months, Peru has been the most active country during July. According to the data, Peru, India, and Indonesia are the top three based on the level of total wallet transactions for that month.

Other trending regions include Cote D’Ivoire, Japan, the Philippines, Venezuela, Bangladesh, and Bulgaria.

Top performing countries on Blockchain.com in July over June | Source: Blockchain.com

This news is in line with recent reports regarding the overall increase in crypto usage and trading in Africa.

The CEO at Nigeria-based exchange, Yellow Card, outlined the rapid rise of crypto adoption in the region:

“In terms of the crypto scene and everything, things are overgrowing, really across the continent, but specifically in Nigeria, South Africa, Ghana, and Kenya.”

In April 2020, Nigeria became the eighth country in Africa to host Bitcoin ATMs despite regional regulatory uncertainty.

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