When we think about bitcoin and which countries interested in bitcoin the most, most of the people think about native English countries and China (admit it)
After following google trends, Similarweb and few more websites for over a year I can tell you that this post gonna change your mind.
Before we start, you will need to understand how Google Trends data is adjusted? according to their official website:
How Trends data is adjusted
Trends adjusts search data to make comparisons between terms easier.
Search results are proportionate to the time and location of a query:
- Each data point is divided by the total searches of the geography and time range it represents, to compare relative popularity. Otherwise, places with the most search volume would always be ranked highest.
- The resulting numbers are then scaled on a range of 0 to 100 based on a topic’s proportion to all searches on all topics.
- Different regions that show the same number of searches for a term will not always have the same total search volumes.
The picture below will show you how which countries searched the most for the term ‘ buy bitcoin’ in the last 12 months:
Nigeria – 100
Ghana – 91
Australia – 49
Singapore – 43
South Africa – 43
Let’s Get Deeper Into the Data:
So we have 3 countries from Africa: Nigeria, Ghana, and South Africa.
1 country from Asia: Singapore. And Australia.
I want to mention again this rule by Google Trends:
Each data point is divided by the total searches of the geography and time range it represents, to compare relative popularity. Otherwise, places with the most search volume would always be ranked highest.
It makes sense because, without these rule countries like USA, India, China and more will always be number 1 on google trends list.
” In Nigeria, local traders and activists believe this new money presents an opportunity to democratize the economy. This is propelled by the fact that people in Nigeria have been failed by conventional money.”(source see also “Kenyan President Nominates BitPesa Board Member for Cabinet” )
with a population of more than 192 million people that sees bitcoin as a better alternative for their own economy, it makes sense the Nigeria and other countries with a poor economy will choose bitcoin as the first alternative solution.
Let’s have a look at the most popular cryptocurrencies exchanges:
Poloniex is leading with 23.5 million visits (which today while writing this posts the number increased to 30.6 million).
Vietnam, South Korea, Nigeria, Ukraine, and Pakistan are the top countries on google trends for the term ‘ poloniex.com’.
The beautiful thing about bitcoin and the cryptocurrency market is that finally after thousands of years money have no borders, and it doesn’t controlled by any country.
I’m sure that we will see virtual currencies much more popular in Asia, Africa, and east European countries in the near future.
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