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After Japan and South Korea – These Countries Are Primed For Bitcoin Mania

 

The world is going crazy for bitcoin. You’ve probably noticed. There’s no need to broach the topic with coworkers, friends, and family anymore: they’re the ones approaching you with questions. If investors in the west are intrigued by bitcoin, South Korea and Japan have succumbed to full-blown mania. But which country will be next to […]

 

Bitcoin trading volume by currency.

Two countries that have welcomed this new world order are South Korea and Japan. The Japanese are buying – as well as actually spending – bitcoin and the South Koreans are trading it. Around 70% of the world’s bitcoin trading takes place in yen or won. The neighboring nations are leading the pack, but other countries are starting to stir. And while many nations have gotten the hots for bitcoin, the following four look likeliest to develop crypto mania next.

South Africa

For identifying emerging markets, Google Trends is your friend. Its data should not be read as absolute, but it indicates pockets of interest around the globe. For the term “pay with bitcoin”, South Africa proves to be an extremely large pocket whose populace are intrigued by all things crypto. It also ranks fourth globally for “buy bitcoin” within the last 90 days.

Two of the countries that rank above SA on that list also hail from Africa – Nigeria and Ghana. Many of the world’s unbanked reside in these countries, and many more Africans in lands such as Zimbabwe are reliant on money remittance from family overseas. Bitcoin is ideal.

For bitcoin to flourish in any country it needs two things: public interest and a favorable regulatory environment. South Africa passes both tests with flying colors. Its government has spoken of taking a “balanced approach” to cryptocurrency regulation, and its second largest supermarket chain is currently trialing bitcoin payments.

 


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