Levels of Engagement with Cryptocurrency Among South Africans 2024

In South Africa, cryptocurrency remains a topic of strong interest, but adoption faces hurdles. While 43% of respondents express a desire to learn more about cryptocurrency despite not currently owning any, this signals a growing curiosity and potential for future adoption. Businesses operating in fintech, digital payments, and investment services have an opportunity to bridge the knowledge gap through education and accessible crypto solutions.

However, skepticism remains a significant factor, with 38% of respondents expressing concerns about risks and downsides. This indicates that businesses and crypto service providers must address security, volatility, and regulatory uncertainties to build trust in the South African market.

The low percentage of former cryptocurrency owners suggests that once individuals engage with crypto, they tend to stay invested rather than exit entirely. This underscores the potential for long-term adoption if businesses can provide secure, practical, and transparent use cases.

For a broader context, visit other statistics on cryptocurrency awareness in South Africa, Preferred methods for storing cryptocurrency in South Africa, most traded cryptocurrencies in South africa.