With a cryptocurrency ownership rate of 10 per cent, or four million people, South Africa “ranks 18th out of 26 countries for crypto adoption,” the latest Finder’s report has said.
The report also noted that South Africa’s proportion of crypto owners holding bitcoin, 52 per cent, is the third highest out of 26 countries.
According to Finder’s crypto adoption trends report for August 2022, about four million people, or 10 per cent of South Africans, are cryptocurrency holders. Bitcoin.com reported that with this crypto ownership rate, South Africa is ranked eighteenth out of twenty-six countries for crypto adoption, the Finder’s report said.
Also, according to the report, South Africa’s crypto ownership rate of 10 per cent is five percentage points lower than the global average of 15 per cent. Regarding the cryptocurrencies held or owned by South Africans, the report said half of the respondents own bitcoin while the remaining half is split between three altcoins.
“As it stands, roughly fIve per cent of those surveyed in South Africa say they own Bitcoin, with 2 per cent saying they own Ethereum, 2 per cent own Dogecoin, and 1 per cent own Cardano,” the report said.
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