Proportion of South African Crypto Holders Increases to 11.3%, 56% of Crypto Owners Hold Bitcoin

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The number of South Africans surveyed who own cryptocurrencies increased slightly from 10.3% in October 2021 to 11.3% in December 2021. With this ownership rate, South Africa is now ranked 21st out of the 27 countries whose internet users took part in the survey. .

South African home ownership rate below world average

According to the results of the latest Finder survey, out of 2,003 South African internet users surveyed, 11.3% said they own cryptocurrency. This cryptocurrency ownership rate would be slightly higher than that of the United States (10.5%) and Sweden (9.8%).

Yet, as the survey results show, the latest cryptocurrency ownership rate in South Africa is still below the global average, which fell from 11.2% in October to 15.5% in December. 2021. Out of a total of 27 countries surveyed, South Africa is now ranked 21st.

In terms of the popularity of different cryptocurrencies, the survey results indicate that 56% of crypto owners in South Africa own bitcoins. With this proportion of internet users owning BTC, South Africa ranks second among the 27 countries. However, the results also seem to suggest that other cryptocurrencies are gaining traction.

“Between now and the last survey, the number of crypto owners surveyed who reported holding BTC increased from 73.5% of respondents who reported owning Bitcoin in October to 56% in December,” the report explains. Finder survey.

Altcoin popularity is growing

According to the results, Ethereum is the second most popular cryptocurrency with a share of 31.5%. This ownership rate, which is 7.1% higher than the global average of 24.4%, places South Africa as the eighth country with the eighth highest proportion of internet users owning Ethereum. In third place is XRP, which is owned by 25.8% of the surveyed users, while dogecoin and solana occupy the fourth and fifth positions respectively.

Meanwhile, the survey also revealed that of those who said they own crypto, 62% are male and 38% are female. According to the survey report, this means that “South African men are about 1.6 times more likely to own crypto than women.”

On the other hand, the survey revealed that 48.7% of South Africans between the ages of 18 and 34 are crypto holders. This figure is 16 percentage points higher than that of South African incumbents aged 35-54.

What do you think of the results of the latest Finder survey? Let us know what you think in the comments section below.

Terence Zimwara

Terence Zimwara is an award-winning journalist, author and writer in Zimbabwe. He has written extensively on the economic issues of some African countries as well as how digital currencies can provide an escape route for Africans.

Image credits: Shutterstock, Pixabay, Wiki Commons

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