How much South Africans have invested in Bitcoin

The 2017 MyBroadband Cryptocurrency Survey has revealed that most South Africans do not have a lot invested in Bitcoin and Ethereum.

The survey was completed by 1,598 people, the majority of whom were IT professionals and tech-savvy individuals.

It showed that among those who held cryptocurrency, 44.51% of respondents’ investments were worth R5,000 or less.

20.68% said their investments were worth between R10,000 and R50,000, while 3.04% had an investment worth over R500,000.

However, 78.86% of respondents who owned cryptocurrency said they planned to invest more into the likes of Bitcoin and Ethereum in 2017.

Bitcoin

The survey results showed that Bitcoin was by far the most popular cryptocurrency in South Africa, followed by Ethereum.

89.94% of respondents who owned cryptocurrency own Bitcoin, while 51.05% owned Ethereum. Bitcoin Cash was in third place on 32.59%.

The most popular cryptocurrency exchange in South Africa was Luno, followed by Bittrex and Poloniex.

The graphic below details the results of the survey.

Crypto Graphic

Now read: Cryptocurrency market could become similar to Wall Street

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How much South Africans have invested in Bitcoin