From 10.3% of South Africans surveyed in October 2021 to 11.3% by December 2021, the number who own crypto has increased marginally. This rate of ownership has landed South Africa at number 21 among the 27 countries that took part in the survey.
South African ownership rate below global average
According to the latest Finder survey of South African internet users, 11.3% claimed they have cryptocurrency. The cryptocurrency ownership rate in South Africa is slightly higher than the US (10.5%), and Sweden (9.8%).
Still, as the survey findings show, South Africa’s latest cryptocurrency ownership rate is yet below the global average, which jumped from 11.2% in October to 15.5% in December 2021. South Africa currently occupies the 21st position among 27 countries surveyed.
According to the survey results, 56% of South African crypto-owners own bitcoin. South Africa ranks second among the 27 countries with the highest percentage of bitcoin owners. These findings do not rule out the possibility that other cryptos are on the rise.
“Between now and the last survey, the number of crypto owners surveyed who said they held BTC has fallen from the 73.5% of respondents who said they own Bitcoin in October to 56% in December,” explains the Finder survey report.
Altcoin Popularity Growing
According to these findings, ethereum was the second-most popular cryptocurrency in terms of its share at 31.5%. South Africa ranks eighth in the world for ethereum ownership, 7.1% more than the global average at 24.4%. XRP, which is held by 25.8% of those surveyed, is in third place. Solana and dogecoin are fourth and fifth, respectively.
The survey found that 62% of people who claimed to own crypto were men, while 38% were women. According to the survey report, this means South African “men are roughly 1.6 times as likely to own crypto than women.”
However, 48.7% are holders of crypto among South Africans 18-34. This is 16 percentage point higher than the number of South African holders aged 35 to 54.
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