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50% of Africans Invest in Cryptocurrencies to offer a Better Education for their Children according to a New Survey

Africans are Investing into Cryptocurrencies according to a new survey. More than 7000 participants from Nigeria, Kenya, South Africa, the UK, Australia, Indonesia, and Malaysia took part in a new review conducted online by leading crypto company Luno. This new survey shows groundbreaking facts about crypto adoption in the dark continent.

48% would allocate their salaries in cryptocurrencies to pay for their children’s future educational fees.

Africans aren’t the only ones who believe in Cryptocurrency, El Salvador is also seriously investing in cryptocurrencies and Bitcoin in particular.

The survey gave great insights into how African crypto owners are dealing with this new technology:

The results indicate that 69% of crypto investors in Nigeria, Kenya, and South Africa are investing in crypto because they are looking for a “better quality of life”.

Additionally, a stunning majority (78%) of crypto investors save regularly, versus 65% of the general population.

While only 3% admitted they have no plan when making investment decisions, the survey also shows that crypto investors in Nigeria, Kenya, and South Africa have a sharp financial perspective and have long-term objectives.

Taking a closer look, the majority of the three African countries lack basic knowledge about cryptocurrencies. The survey shows that 55% of Nigerians would not consider investing in cryptocurrencies as they don’t feel like they understand enough about these new digital assets compared to 56% and 64% in South Africa and Kenya, respectively.

Marius Reitz, the General Manager of Luno Africa said about these findings:

In recent weeks, there’s been a lot of attention on the scale of Africa’s crypto revolution, and whilst its potential is hugely exciting, it’s vital we ensure consumers are engaging with this transition in a safe and responsible manner. This research offers a major boost of confidence that this is happening – we’ve always focused on ensuring we promote safe practices as an exchange through our focus on self-regulation, and it’s encouraging to see customers replicating this through a considered and well-informed approach to investing.

The finding of this survey gave new insights into an ever-growing crypto adoption movement across African countries. Bitcoin and other cryptocurrencies offer a faster, cheaper, and more secure method to transfer money, especially for Nigerians. But, the local population in several countries still lack the needed awareness about crypto use cases and implications. Hopefully, the current positive trend continues with El Salvador leading the way.

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