With a cryptocurrency ownership rate of 10%, or four million people, South Africa “ranks 18th out of 26 countries for crypto adoption,” the latest Finder’s report has said. The report also noted that South Africa’s proportion of crypto owners holding bitcoin, 52%, is the third highest out of 26 countries.
BTC Only, Just over half the price
According to Finder’s crypto adoption trends report for August 2022, about four million people, or 10% of South Africans, are cryptocurrency holders. With this crypto ownership rate, South Africa is ranked eighteenth out of twenty-six countries for crypto adoption, the Finder’s report said.
Also, according to the report, South Africa’s crypto ownership rate of 10% is five percentage points lower than the global average of 15%. The report stated that half the South African respondents have bitcoin, while the other half are split among three altcoins.
“As it stands, roughly 5% of those surveyed in South Africa say they own Bitcoin (BTC), with 2% saying they own Ethereum (ETH), 2% own Dogecoin (DOGE) and 1% own Cardano (ADA),” the report said.
The majority of cryptocurrency owners are men
Meanwhile, South Africa’s proportion of crypto owners that own bitcoin (52%) means the country is ranked third globally just behind Australia (60%) and Ghana (54%). The global average according to Finder’s report is 37%.
In terms of gender, the report found that out of South Africa’s 4 million cryptocurrency owners, men account for 65% of these individuals. With 74% of crypto-owners being males, Norway is the most popular country in the world, followed by Colombia, which has 56%, and Vietnam, which has 56%.
South Africa’s crypto-owners are between 18 and 34 years old. On the other hand, “those aged 55+ are the group least likely to own crypto, making up just 23% of crypto owners.”
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