Nigeria is the fifth country most obsessed with Bitcoin, a new study has shown.
It is the only African country in the top 20, with the next African country, Kenya, placing 29 on the list, according to the study conducted by cryptobetting.org, which specialises in reviewing cryptocurrency betting websites.
The cryptocurrency betting experts combined Google trends searches across the globe to see the highest number of countries searching for Bitcoin.
Ahead of Nigeria are the United States in top position, followed by El Salvador, Vietnam and Canada.
“Nigeria is a leading player in the world of Bitcoin, ranking fifth on the list of countries with the most popular Bitcoin usage. The country is the leader in Bitcoin popularity on the continent of Africa, demonstrating a strong trend towards digital currencies in the region,” cryptobetting.org said in a statement.
Nigeria also ranks second globally for Google Trends searches for Bitcoin, further emphasising the high level of interest and recognition of the digital currency in the country, it said.
“With a large and growing market, Nigeria is an important player in the world of Bitcoin and ranks fifth on this list. The study shows 5.7% of Nigerians have invested in cryptocurrency, the majority being Bitcoin. The interest and adoption of Bitcoin in Nigeria is a testament to the growing acceptance of digital currencies as a legitimate form of investment and financial instrument,” it said.
Switzerland places sixth on the list and is the European country with the highest interest in Bitcoin. Rounding out the top 10 is the Philippines, India, Venezuela and Austria. The United Kingdom places 20th on the list.
Commenting on the findings, a spokesperson for cryptobetting.org said: “Bitcoin is by far the most popular cryptocurrency across the world, this piece places different metrics together to show where in the globe bitcoin there is the highest interest in Bitcoin.
“While it was expected that the United States would place first. It’s interesting to see that El Salvador places second. This can be explained by the fact that Bitcoin is legal tender. This list shows diversity, with countries from different continents placing on the list showing Bitcoin’s interest is global.”