16% of Kenyan adult internet users in Kenya own cryptocurrency, report
Cryptocurrency adoption has been growing rapidly in Kenya over the past few years. In fact, the country is one of the top markets despite the currency operating as an unregulated digital currency.
Finder’s Cryptocurrency Adoption Index has now ranked Kenya 12th for cryptocurrency ownership out of 27 countries surveyed.
It revealed that 16% of Kenyan adult internet users, an estimated 4.8 million people in Kenya own cryptocurrency.
This is slightly higher than the global average of 15%. Cryptocurrency ownership in Kenya is however behind countries like Nigeria (21%) and Ghana (17%), but ahead of countries like Argentina, Mexico, and Venezuela (15% each) and Brazil (14%).
This is based on an online survey of 52,883 people across 27 countries.
The index measured the growth of cryptocurrencies worldwide through an ongoing survey of Internet users in the 27 countries.
Bitcoin is still the most popular coin to have at 9%, followed by Ethereum and Dogecoin at 3% each.
Vietnam has the most cryptocurrency owners (29%), followed by India and Australia (23% each), and Indonesia (22%). On the other end of the spectrum, Japan and the UK have the fewest crypto owners (6% each), followed by Germany (8%).
Bitcoin is probably the best-known name in the world of cryptocurrency, which is probably why an average of 39.1% of crypto owners globally said they had BTC in their wallets. As for Kenya, BTC ownership came in above the global average, with 54.7% of crypto owners saying they held BTC.
This places Kenya as the 4th out of 27 countries. Out of the five coins asked about in the survey (Bitcoin, Ethereum, Dogecoin, Solana and Ripple), Bitcoin ranks as 1st choice for crypto owners in Kenya. Ethereum (ETH) ranks as Kenya’s 2nd choice for crypto with 22% of crypto owners holding Ethereum, which is below the global average of 24.4%. This places Kenya 16th for ETH ownership.
Of those in Kenya who own crypto, the survey found out that 57% are men and 43% are women – meaning that men are roughly 1.3 times as likely to own crypto than women. Kenya actually has the 11th-lowest male-dominated crypto market of the countries surveyed. Globally, the survey notes that men are on average 1.5 times more likely to hold crypto than women.
