A recent survey Suggests that the majority of the South African citizens hold $70 worth of crypto. While 47% Africans own at least one crypto asset.
KLA, a market research and data specialist firm, conducted a survey research on the South African citizens and figured out many strange facts, which indicates the lack of reach of traditional financial infrastructure of South African authorities.
According to the report of the survey, around 25% of South Africa’s citizens own Bitcoin assets. While 36% of adults in South Africa plan to invest in crypto.
Tessa Nowosenetz, Account manager at KLA, stated
“According to our data and a recent survey completed on the topic – among our panel of South African adults – numbers are higher, with 25% saying that they have cryptocurrency worth between R100 and R1,000,”
The Survey Report also claimed a strange fact, the percentage of the crypto holders in South Africa is equal to the value of the crypto assets held by the people, which is noticeable.
Reports also indicate that the majority of the investors are doing a type of experiment with crypto Investment. Because on average, each crypto investor holds only $70 worth of crypto assets.
Tessa explained about the survey report deeply and said that most of the people are willing to understand more deeply about crypto and blockchain. And they needed better understanding to invest in crypto. And they are showing interest in crypto because they have information about crypto Investment that in “short term investment can make huge earnings”
“The main appeal and advantage of crypto is the perception that there is an opportunity to make considerable gains on your investment in the short-term, with 43% stating this as their main reason for interest in crypto”