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. In addition, the study shows that 36% plan to invest in crypto in the future.
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 low average value suggests that many are still trying to understand crypto. To emphasize this point, Nowosenetz said:
While this percentage is high, the amount invested is low. This indicates that the bulk of South African crypto investors are experimenting and dabbling without making a significant financial commitment.
According to the study’s findings, 25% of respondents that hold cryptocurrency have between $7 and $70 (or between 100 and 1,000 rands) invested in digital assets. Fewer…