47% of South Africans plan crypto investment

Almost half of citizens in South Africa have plans to invest in cryptocurrency, according to the results of a new survey.

The study, conducted by tech research firm MyBroadband, revealed that 47 per cent of the 1,244 respondents are open to the crypto sector either through purchases or exploring the industry further through avenues like mining.

The report reads: “Of the survey respondents who do not own or who have never owned cryptocurrency, almost 50 per cent said they plan to invest in an aspect of cryptocurrency or crypto mining in 2018.”

The figures break down like this: 25 per cent of those surveyed said they will invest in cryptocurrency, while 15 per cent will invest in crypto and crypto mining, and a further 7 per cent would invest in mining alone.

South Africa has been welcoming to the sector in comparison to other countries, which makes sense given that it is the most financially sophisticated in the continent.