kenya highest interest in cryptocurrency in africa

Kenya has Highest Interest of Cryptocurrency in Africa

Broker Chooser’s new research has shown that Kenya is the country with the fourth highest interest in cryptocurrency. The study found that only three countries, Russia, Ukraine and the United States, have seen higher cryptocurrency searches in the past 12 months than Kenya.

Kenya has the Highest Number of Crypto Searches

A Citizen newspaper report shows that searches for cryptocurrency originating in Kenya topped 99.810. This means that there were 18 searches for cryptocurrencies originating from the country during the 12-month period.

Kenya is ranked fourth in global searches for cryptocurrency. This means that there is more interest per capita in East Africa than in Nigeria or South Africa.

The study also estimates that approximately 4,580,000.760 Kenyans are cryptocurrency owners. The study determined that the country scored 5.5 out 10 for awareness of crypto.

Despite growing interest in cryptocurrency by Kenyan citizens and the Central Bank of Kenya, authorities have refused to recognize it. This refusal, and the resulting uncertainty, are limiting the growth of digital assets within the country, as previously reported on Crypto Squared News.

The number of crypto-owners in Kenya is currently estimated at 4.6 Million (4,580,760).

Cryptocurrencies are a type of digital asset that uses a distributed network of computers to create a network.

Cryptos can exist independently of government control and any other central authority due to their decentralized nature.

Cryptos in Kenya are synonymous with Bitcoin, which is the most valuable and largest cryptocurrency in the world.

According to Coinlore, there are approximately 6283 crypto currencies available and 17.476 market.

The total value of all available coins in the crpto market is $2.4 trillion (Ksh.265.7 Trillion).

Bitcoin’s price was just above $56,600 (Ksh.6.3million) Monday morning. Top cryptos in terms of market capitalization are Ethereum, Cardano and Binance Coin, Tether.

Although crypto trading is legal in Kenya, it lacks support from government institutions such as the Central Bank of Kenya (CBK), which has reservations about the unregulated market.

The status of cryptos is mixed across the globe. El Salvador recently accepted Bitcoin as legal tender, while Cuba claims it will regulate and recognize the market.

China has also banned cryptocurrency transactions.