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Kazakhstan Witnesses Rising Interest In Cryptocurrency: Study

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Kazakhstanis are highly interested in cryptocurrencies and blockchain as they have increasingly searched for these and related terms in recent months, local media reported, citing a study by the internet services company Yandex.

Thus far this year, searches of the word "cryptocurrency" by Kazakhstanis were nearly 15 times more than in 2017, the study on search queries found, the local news outlet Zakon reported.

Interest in cryptocurrencies surged in June and September last year. Users asked the Yandex browser about cryptocurrencies, crypto exchanges, where to buy them, how to mine them and initial coin offerings, among others.

The query "what is Bitcoin" was asked the most in December last year as the price of the crypto currency hit a record high, the Cointelegraph reported, citing Zakon.

There were also questions such as "can school students can work with Bitcoin?", "what is Blockchain in simple words for dummies", and "how much does mining pay?"

There was a tenfold increase in searches for "graphics card for mining" versus last year.

The Kazhakhstan government had evinced interest in cryptocurrencies and blockchain long back, and has taken several steps to develop a friendly environment for such new technology.

In October last year, the Astana International Finance Center inked a deal with a Maltese firm Exante to develop the country's cryptocurrency market and to explore the launch of a fiat-backed cryptocurrency dubbed "CryptoTenge."

by RTTNews Staff Writer

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