The study also found that 65% of South African crypto investors 'consider crypto to be the future of finance.' cryptocurrency finance socialmedia
Study: 7.6 Million South Africans Are Crypto Investors, Social Media Main Source of Crypto-Related Information
Explaining how South Africans are sourcing information concerning crypto projects that they choose to invest in, thethat nearly three-quarters of respondents are getting this information via social media. Besides social media, influencers and media personalities were found to be the main opinion leaders in the crypto promotion space.
The data revealed by Statists shows that 30 million South Africans are social network users, and this figure is projected to grow to 40 million users by 2026. The country is seeing a rapid growth of influencers, TikTok bloggers and creators for whom social media have proven to be an easy and accessible source of income.
’s study found that South African crypto investors are predominantly “male and younger generations.” Men are estimated to account for 60% of crypto investors while some 42% of the investors are thought to be aged 18 to 30. The study meanwhile exposes South Africa’s unequal wealth distribution and how low-income earners appear to use crypto as a tool for redressing the situation.
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