Cryptocurrencies are popular everywhere around the world. However, there are some parts where they are true hit and other parts where they are about to become one.
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In South Africa, cryptocurrencies are definitely more than a trend.
The country is known for the most sophisticated economy and financial sectors on the continent – motivating the citizens to invest and control their money. The idea of investing and trading in cryptocurrencies (over many centralized financial assets) is what 47% of the South Africans plan to do in the future.
The MyBroadband 2018 Cryptocurrency Survey is where the details are coming from. The survey completed this April and showed that cryptocurrencies are in the plans of many citizens who are looking forward to purchasing them directly or gaining exposure through investments in related enterprises such as cryptocurrency mining.
“Of the survey respondents who do not own or who have never owned cryptocurrency, almost 50% said they plan to invest in an aspect of cryptocurrency or crypto mining in 2018,” was what the MyBroadband tech news team reported on the site on Friday.
Another 25% of the respondents to the MyBroadband survey said that they will invest in cryptocurrency, while 15% of them will invest in both cryptocurrencies and crypto mining. Only 7% said that they would invest in crypto mining.
According to many reports, cryptocurrency trading is on the rise in South Africa. There are restaurants, businesses and many institutions accepting virtual currencies for payments and virtual currencies are increasingly helping to plug the liquidity and foreign currency shortages for international transactions.
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