Nigeria and UAE Head Over Heels Over Cryptocurrency

According to Google trend research stats, Nigeria came in first among all the crypto-obsessed countries.
In some countries, Investors are using the downfall as a chance to progress in the market’s growth trajectory.

Not all countries lost hope after the market crash started in April this year. The collapse of the market diminished certain investors’ hopes of investing in various digital assets as precariousness rose.

According to data retrieved by coingecko and shared with finbold on August 3rd, The results show that, with a leading score of 371, Nigeria came in first. coming in second was UAE with a distant score of 271, followed by Singapore with 261 points. Australia came in 4th carrying with it 218 and lastly was the United Kingdom with 198 points.

Source: CoinGecko

The Tally was rooted in a total search score of keywords such as; ‘invest in crypto’, ‘cryptocurrency’, ‘buy crypto’, ‘Bitcoin’ (BTC)’ ‘Ethereum’ (ETH), and ‘Solana’ (SOl)

Countries such as Canada (192), Georgia (187), Lebanon (168), New Zealand (167), Trinidad and Tobago (164), Pakistan (158), United States (157), Ireland ( 154), Cyprus (151), and Kenya (143)were also included in the study.

Crypto Adoption in Africa and the Middle East

Africa has shown her interest in crypto adoption despite the corona pandemic that hit two years back being led by Kenya. A search done by the UN shows that Kenya leads with over 4.2M people owning digital assets which is 8.5% of the total population, Compared to South Africa with 7.1% and Nigeria with 6.3% of its domestic population.

Since then crypto adoption in Africa has been growing rapidly with Nigeria owning the biggest crypto market in Africa using the peer-to-peer (P2P) trading platforms.

While Africa has kept an open mind about crypto, the middle east has taken a more stringent approach. Countries such as Yemen, Turkey, Bahrain, Israel, and the United Arab Emirates have embraced crypto although they have made clear points on their policy but countries such as Yemen, Turkey, Bahrain, Israel, and the United Arab Emirates have taken a different turn and made sure crypto is not adapted in their countries.

It is still unsure if these countries will take a different turn like Serbia which has shown slight signs of adopting Bitcoin in the near future.