What Ukrain and Russia have in common: They both lead the HODL ranking!
6/4/2022, 11:18 PM
Kenya has the highest percentage of citizens owning cryptocurrencies than any other African country according to data from the United Nations Conference on Trade and Development (Unctad). Kenyans who have cryptocurrencies in their digital protafolium account for 8.5% of the total, the highest share in Africa and the fifth globally. Only Ukraine with 12.7%, Russia (11.9%), Venezuela (10.3%) and Singapore (9.4%) have a higher percentage of residents who own crypto.
As the data shows, South Africa is the second-ranked African country and eighth globally, with 7.1% of the population holding cryptocurrencies in 2021. In Nigeria, which is one of the largest cryptocurrency markets around the world, about 6.3% of the population owns digital currencies, just over 13 million people.
Unctad acknowledged that cryptocurrencies have become popular as they are "an attractive channel through which to send funds." The UN agency also said it found that middle-income people in inflation-stricken developing countries own or hold cryptocurrencies, as they are seen as "a means of protecting household savings. However, the document states that "the use of cryptocurrencies can lead to risks of financial instability". Furthermore, their use potentially opens up “a new channel for illicit financial flows”.
Find the hole UNCTAD Report as pdf here: https://unctad.org/system/files/official-document/presspb2022d8_en.pdf.
As the data shows, South Africa is the second-ranked African country and eighth globally, with 7.1% of the population holding cryptocurrencies in 2021. In Nigeria, which is one of the largest cryptocurrency markets around the world, about 6.3% of the population owns digital currencies, just over 13 million people.
Unctad acknowledged that cryptocurrencies have become popular as they are "an attractive channel through which to send funds." The UN agency also said it found that middle-income people in inflation-stricken developing countries own or hold cryptocurrencies, as they are seen as "a means of protecting household savings. However, the document states that "the use of cryptocurrencies can lead to risks of financial instability". Furthermore, their use potentially opens up “a new channel for illicit financial flows”.
Find the hole UNCTAD Report as pdf here: https://unctad.org/system/files/official-document/presspb2022d8_en.pdf.