A recent survey showed that about 50% of South Africans would be willing to invest in bitcoin (BTC) and altcoins if they could do so from a bank. It would therefore be enough for formal financial institutions in South Africa to enter the crypto sector to increase the adoption rate of digital assets in the country.
South Africans could easily accept Bitcoin (BTC).
There is a Bitcoin Archive account posted on Twitter 25 July that about 50% of South Africans “invest in bitcoin and crypto if banks would offer such services“. In fact, this statement is inspired by the results of a recent survey of South African consumers conducted by the Johannesburg-based Merchants management company.
In fact, almost half of the people who participated in this study indicated that they could enter the crypto sector if local banks offered services in the field. Interestingly, 53% of South Africans who participated in the study said they had little or no knowledge of the cryptocurrency industry.
The survey also revealed only 14% of South Africans are aware of the cryptocurrency industry. It also shows that, in South Africa, this area is much more mastered by people between 18 and 24 years of age.
After analyzing the data from the study, it seems that South Africa could easily accept cryptos, precisely better known bitcoin (BTC), if the necessary conditions are met. To do this, South African banking institutions, for example, could launch educational programs on the subject for consumers.
South Africans would be interested in cryptocurrencies if local financial institutions offered services in the field. At the same time, they need more education on bitcoin (BTC) and altcoins. Note that South Africa is the second country in Africa, after Kenya, where the adoption of cryptocurrencies is progressing well.
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Luc Jose Adjinacou
Far from dampening my enthusiasm, an unsuccessful investment in cryptocurrency in 2017 only increased my enthusiasm. So I decided to study and understand the blockchain and its many uses and share my pen knowledge related to this ecosystem.