Cryptocurrency adoption is on the rise in Africa, according to Finder.com’s latest Cryptocurrency Adoption Index.
According to Finder, Kenya ranks 12th out of 27 countries studied. The crypto ownership rate in Kenya is 15.8pc, ahead of Argentina (15.2pc) and Mexico (15.2pc). This is actually above the global average of 15.5pc.
In the continent, Nigeria leads in Crypto adoption with 21pc followed by Ghana with 17pc and Kenya with 16pc. South Africa comes in at position 21 with an 11pc adoption rate.
According to the report, Bitcoin is Kenya’s most popular cryptocurrency, with 54.7pc of crypto owners owning the coin, Kenya’s global adoption ranking for Bitcoin comes in at 4th out of 27 countries.
Men in Kenya are roughly 1.3 times as likely as women to own cryptocurrency – among crypto owners, 57pc are men compared to 43pc who are women.
“Globally, crypto ownership is dominated by the young, with an average 56.1% of owners aged 18 to 34. And Kenya is no different.
In Kenya, those aged 18-34 dominate crypto ownership at 75.2%, while at 16%, 35-54 year-olds are the next most likely group to say they own crypto. Those aged 55+ come in last with 8.8%.”
Meanwhile, Vietnam has the most cryptocurrency investors (29%), followed by India and Australia (23% each), while Japan and the UK have the fewest crypto investors (6% each).
You can read the full report here: Cryptocurrency Adoption Index.