12% of South Africans currently own cryptocurrency

ByClarisa Curiel

September 16, 2022 Blockchain, South Africa

12% of South Africans currently own cryptocurrency

According to the most recent Finder’s research, South Africa, which has a 12% ownership rate for cryptocurrencies, or four million individuals, “ranks 18th out of 26 nations for crypto adoption. 12% of South Africans currently own cryptocurrency

The survey also mentioned that out of 26 nations, South Africa has the third-highest percentage of cryptocurrency owners who possess bitcoin, at 52%.

Just over 50% own Bitcoin

Four million individuals, or 12% of South Africans, are said to be cryptocurrency owners, according to Finder’s study on adoption patterns for August 2022. The Finder’s analysis stated that South Africa is rated eighteenth out of twenty-six nations for crypto adoption with this rate of cryptocurrency ownership.

South African Cryptocurrency Ownership Rate at 10% — Report

Additionally, the survey states that South Africa’s 12% ownership rate of cryptocurrencies is five percentage points lower than the 15% global average. According to the research, half of the respondents possess bitcoin, with the remaining half being divided among three alternative cryptocurrencies.

According to the study, 5% of South African respondents claimed to possess Bitcoin (BTC), 2% claimed to own Ethereum (ETH), 2% claimed to own Dogecoin (DOGE), and 1% claimed to own Cardano (ADA).

A significant portion of cryptocurrency owners are men.

In contrast, South Africa is placed third internationally in terms of the percentage of cryptocurrency owners who possess bitcoin (52%), only behind Australia (60%) and Ghana (54%). According to Finder’s analysis, the global average is 37%.

The survey discovered that males make up 65% of the 4 million bitcoin users in South Africa in terms of gender. Norway leads the world in the percentage of male cryptocurrency owners (74%), while Colombia and Vietnam are tied with 56%.

In South Africa, 45% of cryptocurrency owners are between the ages of 18 and 34. However, just 23% of those over the age of 55 are crypto owners, making them the category with the lowest ownership rate.

ByClarisa Curiel

Executive product manager Clarisa Curiel has worked in product strategy, definition, go-to-market, and operations for over a decade. She oversees the Commercial Client Products Team right now. Before becoming the head of the Latitude Product Planning team, she oversaw the Mainstream PCs Business Unit and the Precision workstations Product Management team.She earned her BS in Computer Science from The University of Texas at Austin and her MBA in Marketing from Northwestern University's Kellogg School of Management. She spends her free time in the kitchen, with family board games, on an adventure, or on a hike with her husband and two children.Also has been an active member of the cryptocurrency community since 2017. She has a passion for Bitcoin, open-source code, and decentralized applications.