How South Africans use Bitcoin

Team Luno
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1 minute read

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.

How-South-Africans-use Bitcoin-infographic

Note: This image is licensed under the Creative Commons BY-ND 4.0 International License.
You may freely share it or use it on your website, blog or social channels in unedited/unaltered form with credit or a link to www.luno.com

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Team Luno

On our way to the moon, we write about all things crypto. And don’t forget we’re humans too. Our blog conveys the views of Luno and the many unique opinions and characters within our team. We’ll never provide you with financial advice, and we urge you to conduct your own research before purchasing or trading any cryptocurrencies. It’s a brave new world out there, and the market can be volatile at times, so never trade with funds you can’t afford to lose. Want to let us know how much you love our blog? Tweet us @lunomoney.

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