Google searches for Bitcoin are on the rise in Cuba

Published at: Nov. 2, 2020

Cuba is apparently seeing an influx of Bitcoin (BTC)-related activity as Bitcoin interest is on the rise in the country.

According to data from Google Trends, Cuba now ranks second in terms of Bitcoin interest over the past 30 days. The island nation follows Nigeria, which has remained as the top country searching for Bitcoin on Google since April 2020.

The rest of Google’s top five regions searching for Bitcoin comprise the African countries of South Africa, Cameroon and Ghana.

Cuba’s rise in Bitcoin-related searches comes amid reports of Cubans increasingly turning to Bitcoin to circumvent sanctions imposed by the United States and gain access to digital financial services. As major digital payment firms like PayPal and Stripe are reportedly not available for Cuban nationals, the coronavirus pandemic-fueled travel restrictions have made local payments even more complicated.

In late October, a local programmer and YouTuber Erich García called on the nation to use Bitcoin for cross-border remittances, claiming that anyone who wants to send payments to the island should buy Bitcoin and send it through a Cuban crypto exchange called BitRemesas:

“We do not have access to payment platforms like Stripe, Visa, Mastercard, Paypal, or Union Pay. We do not have access to anything, to any of those resources. What technology has allowed us to dream, see other scenarios? Blockchain and Bitcoin.”

In April 2020, Italian-Cuban entrepreneur Mario Mazzola launched Cuba’s first decentralized Bitcoin exchange, Qbita. According to Mazzola, the new exchange aims to allow Cubans to buy and sell Bitcoin as major crypto services like LocalBitcoins and Paxful are not accessible in the country.

Tags
Technology
Bitcoin
United States
Cryptocurrencies
Paypal
Sanctions
Mastercard
Stripe
Paxful
Visa
Cuba
Localbitcoins
Related Posts
Cuba’s exploding crypto interest comes amid an absence of regulation
Cuba is seeing an influx of cryptocurrency activity amid an apparent absence of related regulation in the country, according to senior executives at local crypto firms. In early November, Cuba recorded a major spike in Bitcoin (BTC)-related Google queries, indicating an increase in crypto activity in the country. Founders of major local crypto exchanges Qbita and Bitremesas told Cointelegraph that their platforms have seen increased activity in recent months. Erich Garcia, the creator of Bitremesas, told Cointelegraph that the platform has been steadily growing this year, seeing a notable influx in user activity. “By now, the use of the service …
Bitcoin / Nov. 11, 2020
A Site Enabling Anyone to Buy Bitcoin Using 300 Payment Methods Says the Demand is Growing
A company that enables visitors to buy Bitcoin using more than 300 payment methods has reported growth in the number of transactions being completed using US dollars – and says it is determined to dismantle the issues people have in earning and transferring their money freely. Paxful was launched in 2015, and has the goal of making it simple to buy cryptocurrency – a boon for people who haven’t done so before. Cash deposits and bank transfers can be used on its platform – with the company promising to deliver Bitcoin in less than an hour at an “awesome price.” …
Blockchain / Nov. 27, 2018
PayPal to start letting US customers pay in Bitcoin at global merchants
Online payments giant PayPal will start to accept cryptocurrency as a medium of exchange at its millions of global merchants, the firm’s president and CEO revealed on Tuesday ahead of a formal announcement. News broke regarding PayPal’s rumored decision to accept cryptocurrencies early on March 30. Later in the day, the firm’s CEO, Dan Schulman, confirmed to Reuters that the rumors were true and that an official statement would be released imminently. The new system is expected to feature a crypto checkout service where users can pay for goods and services at approved vendors using their stored coins. The system …
Adoption / March 30, 2021
Payments firm Nuvei launches support for 40 cryptos including Reddcoin and DOGE
E-commerce merchants can now transact in nearly 40 cryptocurrencies through global payment platform Nuvei. According to the announcement, merchants partnered with the payment provider can use an array of cryptocurrencies to send and receive payments across 200 countries, including top assets Bitcoin (BTC) and Ether (ETH), lesser known cryptos such as Reddcoin and Bitcoin Gold, and even hyper-volatile coins like Dogecoin (DOGE). Nuvei’s customers can even use Ripple (XRP), despite the asset’s recent legal woes and subsequent delistings from major exchanges. Commenting on the launch, Nuvei’s CEO and chairman, Philip Fayer, described the firm’s support for crypto assets as “empower[ing] …
Technology / March 30, 2021
Mastercard announces support for crypto on its network
Mastercard has announced plans to support cryptocurrencies in 2021, paving the way for its nearly one billion users to spend digital assets at more than 30 million merchants. The firm believes this may open merchants up to new customers and build loyalty with existing customers who are already migrating to digital assets over traditional fiat options. “It’s about choice. Mastercard isn’t here to recommend you start using cryptocurrencies. But we are here to enable customers, merchants and businesses to move digital value” While the global payments giant noted it is planning to support stablecoins due to their “reliability and security,” …
Blockchain / Feb. 11, 2021