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Kenya ranks 3rd in the world, among countries with the most equal adoption of crypto

Kenya has the 3rd highest share of female crypto owners in the world. Researchers believe that Kenyan women view crypto as a means of earning additional income.

Kenya ranks 3rd in the world among countries with the most equal adoption of crypto

Women in developing economies are embracing cryptocurrency as an additional source of income, a new survey has found.

The survey by Forex Suggest, titled "What role are women playing in crypto in 2023?", ranked Kenya in the top 3 for countries where the ownership of crypto is almost equal among the genders.

Coming right after Vietnam (47%) and Indonesia (43%), 42% of crypto owners in Kenya are women. Similarly, Columbia ranked at number three with Venezuela (41%), Mexico (41%), Australia (41%), India (40%), Brazil (40%), Hong Kong (39%) and Ireland (39%) completing the top 10 list.

"Both Kenya and Columbia, like Vietnam and Indonesia, are developing economies where work is often more scarce and lower paid than in developed nations, and traditional gender roles are more prominent with men usually being the family breadwinners.

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Rank Country Male Share of Crypto Owners Female Share of Crypto Owners Percentage Point Difference
1 Vietnam 53% 47% 6
2 Indonesia 57% 43% 14
3 Kenya 58% 42% 16
3 Colombia 58% 42% 16
5 Venezuela 59% 41% 18
5 Mexico 59% 41% 18
5 Australia 59% 41% 18
8 India 60% 40% 20
8 Brazil 60% 40% 20
10 Hong Kong 61% 39% 22
10 Ireland 61% 39% 22

"The high proportion of female crypto owners in these countries suggests that women are using crypto as a means of earning additional income where the local economy or culture provides few opportunities for women to succeed," the researchers reported.

The study also surveyed the rate of cryptocurrency adoption among women, comparing the proportion of crypto owners to the general population of women in the countries that were ranked.

Already listed as the country where male and female crypto ownership is most equal, the incredibly high number of crypto adoption in Vietnam means almost a quarter of women in the country own some form of cryptocurrency.

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South Africa and Nigeria emerged in the lead among African countries, ranking at position five and nine respectively.

Rank Country Female Crypto Owners Percent of Women Owning Crypto
1 Vietnam 12,165,440 24.40%
2 Philippines 5,492,760 9.64%
3 India 63,020,700 9.18%
4 Venezuela 1,189,000 8.42%
5 South Africa 2,353,920 7.60%
6 Singapore 218,620 7.51%
7 United States 11,517,770 6.88%
8 Brazil 7,124,030 6.63%
9 Nigeria 4,593,250 4.25%
10 Argentina 977,870 4.22%

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