South African Cryptocurrency Ownership Rate of 10% — Report – Featured Bitcoin News
With a cryptocurrency ownership rate of 10%, or four million people, South Africa “ranks 18th out of 26 countries for crypto adoption,” says the latest Finder report. The report also noted that South Africa’s share of crypto owners holding bitcoin, 52%, is the third highest out of 26 countries.
Just over half own BTC
According to Finder’s Crypto Adoption Trends Report for August 2022, around four million people, or 10% of South Africans, are cryptocurrency owners. With this crypto ownership rate, South Africa ranks eighteenth out of twenty-six countries for crypto adoption, Finder’s report says.
Also, according to the report, South Africa’s crypto ownership rate of 10% is five percentage points lower than the global average of 15%. In terms of the cryptocurrencies owned or owned by South Africans, the report said half of the respondents own bitcoin while the remaining half is split between three altcoins.
“As it stands, about 5% of respondents in South Africa say they own Bitcoin (BTC), with 2% saying they own Ethereum (ETH), 2% owning Dogecoin (DOGE) and 1% owning Cardano (ADA) ,” the report said.
Men account for a large proportion of crypto owners
Meanwhile, South Africa’s share of crypto owners who own bitcoin (52%) means the country ranks 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 of South Africa’s 4 million cryptocurrency owners, men account for 65% of these individuals. Globally, Norway comes in with 74% of crypto owners being men, while Colombia and Vietnam are tied, with 56%.
In South Africa, those aged between 18 and 34 account for 45% of crypto owners. On the other hand, “those aged 55+ are the group least likely to own crypto, accounting for only 23% of crypto owners.”
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