South Africa bags 21st in cryptocurrency ownership
According to the latest Cryptocurrency Adoption Index from Finder.com, cryptocurrency adoption is increasing in South Africa.
In the December study, 11 percent of South African adult internet users, or an estimated 4.5 million people, claimed they owned cryptocurrencies, up from 10 percent in October – a one percentage point rise.
Bitcoin remains the most popular coin to possess (6.3 percent), followed by Ethereum (3.5%), and XRP (1.5%). (2.9 percent ).
South African cryptocurrency ownership is lower than the global average of 15%, but greater than countries such as the United States (10%), Germany (8%), and the United Kingdom (7%). (6 percent ).
South Africa ranks 21st in terms of bitcoin ownership among the 27 nations surveyed in the report.
Meanwhile, Vietnam has the most cryptocurrency investors (29%), followed by India and Australia (23% each), while Japan and the UK have the fewest crypto investors (6% each).
Popular cryptocurrencies in South Africa
Of the people in South Africa who said they own some form of cryptocurrency, 56% of crypto owners own Bitcoin, making it the most popular cryptocurrency.
The second most popular coin is Ethereum at 31.5%, with Ripple in third place at 25.8%.
Men in South Africa most likely to own crypto
In South Africa men are more likely to own cryptocurrency: Roughly 14.1% of men in South Africa say they hold crypto compared to 8.5% of women. This aligns with global trends. Our December research found more men said they owned crypto than women in 24 out of 27 countries surveyed.
South Africa sees young people dominate crypto ownership
Globally, crypto ownership is dominated by the young, with an average 56.1% of owners aged 18 to 34. And South Africa is no different.
In South Africa, those aged 18-34 dominate crypto ownership at 48.7%, while at 32%, 35-54 year olds are the next most likely group to say they own crypto. Those aged 55+ come in last with 19.3%.
Click here for the full report.