Bitcoin is the most popular cryptocurrency in South Africa, easily beating its closest competitor Ethereum.
This is according to the 2017 MyBroadband Cryptocurrency Survey. The survey was completed by 1,598 people, the majority of whom were IT professionals and tech-savvy individuals.
89.94% of respondents who own cryptocurrency own Bitcoin, while 51.05% own Ethereum.
Bitcoin Cash was in third place on 32.59%. Its high ranking may be due to the recent Bitcoin fork, which saw Bitcoin owners receive an equivalent amount of Bitcoin Cash.
The most popular cryptocurrency exchange in South Africa was Luno, followed by Bittrex and Poloniex.
Luno is a Bitcoin exchange which allows South Africans to buy the cryptocurrency with rand, and also provides online wallet functionality.
The graphic below details the results of the survey.
It must be noted that the percentage of “Yes” respondents who own cryptocurrency – 53.57% – is influenced by the high number of IT professionals and tech-savvy readers and forum members on MyBroadband. The result is unlikely to be indicative of the general population.
Cryptocurrencies and exchanges with a response rate of less than 5% were not included in the results. Respondents were allowed to select multiple answers for certain questions.