Over 70% of South Africans Surveyed Own Cryptocurrency

South Africa has the most sophisticated economy and financial system on its continent, and despite regulatory concerns, its citizens are starting to warm up to the idea of decentralized cryptocurrency.
A new survey by MyBroadband asked 1,244 tech-savvy South Africans, and focused on what their plans are for cryptocurrency in the year 2018.
When asked whether or not if they should get into cryptocurrency or invest in it, 50% of those who have never owned any form of cryptocurrency (including Bitcoin) stated that they had plans to find a way to invest in 2018.
Those who have never owned or invested in cryptocurrency were asked whether or not they plan to invest in 2018, and 47% of people surveyed plan to invest in cryptocurrency in some way in 2018. The responses are broken down as follows:
25% plan to invest in cryptocurrency
15% plan to invest in cryptocurrency and mining
7% plan to invest in mining.
78% of those who answered the survey claim to have already owned (or own) cryptocurrency, but the survey didn’t ask (or doesn’t provide the info if it did) whether or not they’re still interested in the cryptocurrency market or not.
Last winter, Bitcoin and every other cryptocurrency saw all-time highs before coming back down to the range they’re currently at. Recent weeks have shown an increasing interest in cryptocurrency brewing again, though, as prices creep up and financial institutions begin to share their plans for becoming involved in the cryptocurrency marketplace.
A sign of the growing cryptocurrency market in South Africa was seen last month, when the country decided to start taxing crypto gains due to their growing influence in the South African economy.
With so many responders already owning cryptocurrency, and almost half of those who didn’t planning to get into it, it’s no surprise that the South African government has begun trying to tax gains and losses in the market.
More and more people and businesses in the country are accepting Bitcoin and other cryptocurrencies as payments, so it will be interested to see what the future holds for the South African crypto market.