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2020-11-03

Increased interest in Bitcoin in Cuba

Cuba is apparently observing an influx of Bitcoin (BTC) activities, as interest in Bitcoin is growing in this country.

According to Google Trends, Cuba is currently ranked second in terms of Bitcoin interest in the last 30 days. The island nation is following Nigeria, which has been at the forefront of the search for Bitcoins at Google since April 2020.

The remaining top five Google regions looking for Bitcoins include countries in South Africa, Cameroon and Ghana.

The increase in the number of Cuban Bitcoin searches is among the reports that Cubans are increasingly turning to Bitcoin to circumvent sanctions imposed by the United States and gain access to digital financial services. As major digital payment companies such as PayPal and Stripe are reportedly unavailable to Cuban citizens, pandemic-related restrictions have made local payments even more complicated.

At the end of October, the local programmer and YouTuber Erich García called on the people to use Bitcoin for cross-border money transfers, claiming that anyone who wants to send payments to the island should buy Bitcoin and send it through the Cuban cryptographic exchange called BitRemesas.