The Pan-African Financial Services Company Old Mutual Ltd has released annual savings and investment monitor survey for South Africa, which voted on respondents to the awareness and approach towards cryptocurrencies in the country.
Current survey has shown that respondents normally have a positive respect for digital currencies, 38 percent of the respondents said “I wish I had invested in (crypto) earlier” and 71 percent agreed that “you can earn a lot of money.” However, 43 percent of respondents agreed with the statement “they have bad news like a pyramid scheme” and 53 percent said that they do not understand how the cryptocurrencies work has been found. 40 percent respondents replied that they knew about different degrees, while 60 percent said that they were not aware of cryptocurrencies.
Compared to Europe, Australia and the united states , a survey conducted by Ipsos, a research company by ING Bank B.V., showed that 66 percent of the European people had heard about cryptocurrencies, while 33 percent agreed with the statement that crypto is the future of spending online. “with the highest rate in Australia and Poland, each survey has a population of crypto in the country.
While the public in South Africa shows some positive attitudes as an alternative form of investment towards digital currency, the country’s central bank has chosen to call digital currency “cyber-token” because they do not meet the necessities of money. “ the bank has set up a fintech task force to review its approach to private cryptocurrencies and address regulatory issues to develop a relevant policy framework and regulatory system.