Cryptocurrencies are gaining in popularity in many countries, including Nigeria. However, some countries are more curious than others. Nigeria is one of the countries with the highest search levels for cryptos. The lack of financial services in the country is a contributing factor to the rising interest in digital tokens. Visit the official platform to learn more about this.
Nigeria has been one of the fastest-growing cryptocurrency markets in recent years. The country is home to some of the world’s largest crypto trading platforms. In October 2021, Nigeria will launch its first African cryptocurrency. Additionally, the Nigerian stock exchange plans to launch a blockchain-enabled platform early next year. Nigeria’s interest in digital currencies has largely been spurred by a lack of access to traditional financial services and the monetary crisis that has gripped the country.
CoinGecko, a company that monitors cryptocurrency-related search terms, studied the English-speaking world and calculated the number of searches for cryptocurrency terms in various countries. Then, the website assigned each nation a total search score and ranked each country accordingly. Nigeria ranks at the top spot in the rankings. This is not surprising, given that Nigerians are among the world’s most cryptocurrency-curious citizens.
Cryptocurrencies have become increasingly popular in Brazil, which has one of the largest cryptocurrency markets in the world. The country has a smaller population than its Spanish-speaking neighbors, so there’s no language barrier to overcome. It also has a lower inflation rate than most of its neighboring countries. That means many Brazilians are buying cryptos for investment purposes instead of using them to finance their immediate future.
According to the study, 62% of Brazilians consider cryptocurrencies to be the future of finance, while 53% view them as a safe and secure way to store value. About half of Brazilian crypto investors expect a high return from their investments in the long run. Another third intends to use the profit to improve their family’s living conditions. In addition, 36% rely on their profits as income and their salaries.
According to the latest study by CoinGecko, Nigeria is the most curious nation in the world about cryptocurrencies. In a study, they examined the search volume for six popular cryptos in Google Trends and combined them to calculate each country’s total search score. They then ranked countries according to the number of times people searched those terms in a month.
Nigeria’s stock exchange has recently announced plans to launch a blockchain-based platform, which is expected to boost trade and attract new investors. This comes just as the country’s central bank ordered commercial banks to ban all cryptocurrency transactions in early 2021, citing risks to the financial system. Meanwhile, the United Arab Emirates and Singapore were the following most curious countries.
The Monetary Authority of Singapore is among the countries exploring central bank digital currency and is considering restricting retail investors’ leverage. The agency plans to consult the public in October to finalize the regulations for these digital assets. As part of the global effort, it launched a GreenTech Challenge for Singapore investors.
Singapore’s tax laws favor cryptos, as the country has no capital gains tax. Furthermore, cryptocurrencies are exempt from the country’s goods and services tax, or GST. As of January 1, 2020, all digital payment tokens are tax-free in Singapore. This is a significant benefit for cryptos and investors in Singapore.
United Arab Emirates
The United Arab Emirates is one of the countries most curious about cryptocurrencies, and the general public in the country is also inquisitive. According to Google Trends, the UAE is one of the countries with the highest search interest for cryptos and bitcoin. It consistently outpaces neighboring Middle Eastern nations in this respect. Until the beginning of May, only Turkey ranked higher in search interest for cryptos than the UAE.
Nigeria is also among the most curious countries about cryptos, according to CoinGecko’s research. The government has become one of the most active markets for crypto trading platforms, and the country is also preparing to launch its first cryptocurrency in 2021.
CoinGecko recently released a study showing which countries are most interested in cryptocurrencies. The study ranked countries by the number of searches for cryptos. The top searches came from Nigeria and the United Arab Emirates. Both countries’ populations are interested in cryptocurrency but are looking to invest only in the long term.