Survey Shows 38% of South Africans Wished They Invested In Cryptos Before

Survey Shows 38% of South Africans Wished They Invested In Cryptos Before

South Africans seem to be very interested in cyber assets. At least, that’s what the recent survey has shown.

According to it, 71% of respondents of the yearly Savings and Investment Monitor survey for South Africa, carried out by Old Mutual Limited, replied they believe it is possible to make money with cryptos. At the same time, 38% of poll participants regretted they hadn’t piled into cryptos before.

How South Africans View Digital Money?

Recently, Old Mutual Limited, a Pan-African financial services company, has published results of the yearly survey which it conducted among South Africans. The poll was aimed at finding out how the country’s citizens are acquainted with cyber assets. And here’s what it has shown.

Overall, participants of the survey demonstrated a bullish attitude towards virtual money. Moreover, some respondents accepted they regret not investing in cryptos earlier, whereas the others don’t even know how bitcoin and its brethren work.

Specific Understanding

  • 71% revealed they believe with cryptos it is possible to gain considerable revenues
  • 53% admitted they have no idea how cryptos function
  • 43% claimed digital money is “bad news” and “pyramid scheme”
  • 38% answered they wished they had put money in cryptos earlier

Image from “Savings & Investment Monitor” by OLDMUTUAL

General Understanding

Regarding the overall awareness, 40% of the poll participants said they were aware of cryptos at different degrees, whereas 60% unveiled they weren’t at all.

Image from “Savings & Investment Monitor” by OLDMUTUAL

Are South Africans Different From Europeans?

Interestingly, a similar survey was once carried out by Ipsos on behalf of ING Bank B.V. It showed that 66% of Europeans were acquainted with cyber assets, while 33% said they believed cryptos were the future of spending online. In each European country, according to the poll, around 50% of people were aware of cryptos. However, in Poland and Austria, the rate was the highest – 77% and 79% respectively.