It wasn’t even two days ago that I saw an introduction lecture on bitcoin and other cryptocurrencies being advertised in Noordhoek of all places.

If it’s hit the other side of the lentil curtain, you know it must be making some kind of impact.

Bitcoin remains the most popular of the lot in South Africa (many “investing” in it aren’t aware that it’s a part of a broader category of cryptocurrencies), but there are a few other digital assets that locals are buying into.

To find out, MyBroadband went ahead and conducted a Cryptocurrency Survey. They did add this side note:

It must be noted that the percentage of “Yes” respondents who own cryptocurrency – 53.57% – is influenced by the high number of IT professionals and tech-savvy readers and forum members on MyBroadband. The result is unlikely to be indicative of the general population.

And here’s what the survey found:

89.94% of respondents who own cryptocurrency own Bitcoin, while 51.05% own Ethereum.

Bitcoin Cash was in third place on 32.59%. Its high ranking may be due to the recent Bitcoin fork, which saw Bitcoin owners receive an equivalent amount of Bitcoin Cash.

The survey also sought insight into which cryptocurrency exchanges were most popular in South Africa. Luno came out tops, followed by Bittrex and Poloniex:

Luno is a Bitcoin exchange which allows South Africans to buy the cryptocurrency with rand, and also provides online wallet functionality.

The graphic below details the results of the survey:

Still wondering whether or not to take the plunge? We have written extensively about bitcoin – here.

All I can say is do your research and don’t invest every penny you have. Then get an app, and watch the value of your investment rise and fall while cryptocurrencies figure out their place in this world.

[source:mybroadband]