Survey says 50% of Africans Investing in Crypto for Their Children’s Education

Survey conducted over 7000 people from different African countries. Survey report suggests that most of the Africans rely on the small crypto Investment to get financial support for their children.

Luno, a London based firm, conducted a survey on the crypto investors. In the survey a total of 7000 people responded and these people were from Nigeria, Kenya, South Africa, the UK, Australia, Indonesia, and Malaysia . The main aim of this survey was to figure out the reason why these people got involved in crypto. 

Three African regions have crypto investors, which aim to invest in crypto to generate better returns to support the family financially in future. Such kind of crypto investors are about 69%, as per survey report. 

If we take a deep look over the crypto Investment then, around 48% crypto Investors are doing Investment to pay the costs of education for their children. And 43% of such crypto investors said that they will pass this strategy to their relatives also. 

And there were only 3% of the respondents, who claimed that they have no plan and no idea for the future, they are just doing Investment to make better returns. 

The general manager of Luno, Marius Reitz, station this survey and said that crypto Investment is just like a revolution for people and further added 

“In recent weeks, there’s been a lot of attention on the scale of Africa’s crypto revolution, and whilst its potential is hugely exciting, it’s vital we ensure consumers are engaging with this transition in a safe and responsible manner.”

Reitz also said there are many people who want to invest in crypto but they are not able to figure out the crypto basic system and they don’t know how to Invest in crypto. He took reference to Nigeria and said that around 55% of Nigerians don’t know about the crypto asset class. While this number is more in South Africa and Kenya, which is 56% and 64% respectively.

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