Sumary of 25% of South Africans Own Cryptocurrency With Average Value of Assets Held Below $70:
- According to the findings of a study by KLA, a market research and data specialist firm, some 47% of South African adults are holders of cryptocurrency, with the majority of this number holding low-value investments.
- South Africans Still Experimenting With Cryptocurrency Though the KLA findings report that 47% of South Africans are holders, the Businesstech report quoting KLA’s Tessa Nowosenetz explains the value of crypto assets held is still very low.
- This indicates that the bulk of South African crypto investors are experimenting and dabbling without making a significant financial commitment.
- Many Attracted by Quick Gains Businesstech notes that despite their cautious crypto investment approach, many South Africans remain curious and are “interested in learning the ropes while engaging in a trial.
- ” The report notes however that many are venturing into crypto because they are interested in making “a quick gain.
- ” Nowosenetz explained: The main appeal and advantage of crypto is the perception that there is an opportunity to make considerable gains on your investment in the short-term, with 43% stating this as their main reason for interest in crypto.