How South Africans use Bitcoin
Did you know that in emerging market countries, such as South Africa, up to 90% of payments are still cash based? However, due to its many advantages over cash --such as safety and speed-- Bitcoin interest and adoption in South Africa is taking off big time.
The African country currently ranks 5th on the google trends chart for the most Bitcoin-related searches. This tells us that South African citizens are showing large interest in moving away from cash and into a digital society.
As interest in the virtual currency continues to increase, we asked our South African customers: how do you view Bitcoin and what do you do with it?
Below are the results in an infographic on how often they use their Bitcoin wallets, if they use it more as a payments system or an investment tool, whether they trust it or not and what they think the Bitcoin price will be over time.
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