The economic uncertainty seems to have encouraged South Africans to turn to the Bitcoin and other crypto-currencies. Moreover, there is an increase in the use of the keyword “Bitcoin” on Google’s search engine in South Africa. It is today one of the 66 first countries that make the most use of this keyword on Google.
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South Africans know about the Bitcoin
The popularity of Bitcoin seems to continue to grow in South Africa despite the recent decline in the price of this digital currency. The research in south africa on Google are the most high at present. The average volume of monthly searches for the keyword “Bitcoin” over the last 12 months is estimated at between 100 000 and 1 000 000. The volume of transactions of Bitcoins in South Africa also seems to increase. It is more than $ 1.7 million. A record for the country since last January.
Source : Pixabay. The key word Bitcoin is used a lot by South Africans in recent months.
Mati Greenspan, market analyst for eToro has recently confirmed that the platform has experienced a strong increase in the number of traders south africans. In the country, the number of new users of the Bitcoin has increased 671 % from January to the end of November last year, he said.
Increase of transactions of Bitcoins in South Africa
Many analysts attribute the growing interest of South Africans for crypto-currencies to land reform’s radical president Cyril Ramaphosa. This could generate economic instability in South Africa. Mr Ramaphosa has forced the Whites to abandon agricultural land to the black citizens of the country.
The south african president recently issued a statement aimed at reassuring investors. He explained that the agrarian reform will be carried out within a clear legal framework and will not impact on the economic growth, the agricultural production and the food security of the country.
Source : NewsBitcoin