Key Takeaways
- Reports show that crypto-related searches emanating from Kenya have been over 99,810 in the last 12 months.
- The Crypto-related Search ratio is pegged at 18 searches per 10,000 people.
- Kenya has clinched the fourth position as countries with the highest searches on cryptocurrencies.
- Almost 4.6 million Kenyans are Hodling Bitcoin.
- Kenya has more persons interested in cryptocurrencies than Nigeria and South Africa.
The global debate surrounding the adoption of cryptocurrencies has tasted the waters of different nations' scrutiny, with the challenge being moved from the hands of the government to the people.
In Africa, Kenyans are pulling their weight on embracing the benefits of the rise of Cryptocurrencies.
A new research study conducted by Booker Chooser discovered that Kenya had won a seat at the table of countries with a particular interest in cryptocurrencies after clinching the fourth position for searches on cryptocurrencies.
The study discovered that only the following countries had more searches for cryptocurrencies than Kenya in the last 12 months: Ukraine, Russia, and the United States.
Kenya leads the way as African Country with the highest search on Cryptocurrencies.
According to the Citizen Newspaper report findings, over 99,810 searches for cryptocurrencies emanated from Kenya in the last 12 months.
That is to say, within the time frame mentioned above, there were 18 crypto-related searches per 10,000 people.
Kenya's clinching fourth position in the World in terms of cryptocurrency searches indicates that the East African country has a higher level of interest per person than what is obtainable in Nigeria and South Africa.
Accordingly, the report also pegged the number of Kenyans holding bitcoin to be around 4,580,760. The study claims Kenya has a 5.5 out of a potential 1 to knowledge and understanding of cryptocurrencies on the scorecard.
Notwithstanding the growing interest in cryptocurrencies among indigenous Kenyans, relevant authorities, including the country's apex bank, have refused any form of legal backings for cryptocurrencies.
The unwillingness of these authorities and its resultant effect has been reported by Bitcoin.com News to be a strong impediment to the growth of crypto-related assets in the country.
It is worth noting that indulging in cryptocurrencies tradings or investment is not illegal in the country.
But its decentralized nature, dire absence of regulation, and high market volatility is a major consideration hampering involvement by the regulatory bodies in the country.
Looking at the available figures provided in the study, do you agree that it represents the true state of things in Africa as a whole, and will it further pave the way for cryptocurrencies to receive a legal acknowledgement from relevant regulatory bodies in Africa?
