According to a recent study conducted by the United Nations (UN), it was reported that 8.5% of Kenya’s population own digital assets, which makes up around 4.25 million citizens. These statistics make the country a leader in cryptocurrency adoption across Africa.

Kenya – is an African nation that has been considered a tech and innovation hub on the continent have been tied to the crypto industry for some years now. In 2020, after the COVID-19 crisis, struggling citizens of the nation turned to local digital assets (such as Sarafu) to aid their financial issues.

Over the years, the interest of Kenyans in cryptocurrencies has been on the rise, and currently, it is considered the leading African nation in terms of HODLers. According to the report, it was stated that 8.5% of the domestic population was involved in crypto. In comparison, 7.1% of South African residents were recorded as Hodlers while 6.3% of Nigerians have bitcoin or alternative coins.

It is worthy of note that Kenya’s crypto adoption rate surpasses top economies, with the United States having an (8.3%). However, due to a lack of supervision in the sector, it is difficult to establish the value of digital currencies held by Kenyans.

The global leader as reported by the UN’s research is Ukraine with 12.7% of its residents having crypto exposure, in second place is Russia with 11.9%. Venezuela and Singapore complete the top 4 with respectively 10.3% and 9.4%.

Featured image source: Medium