Published On: Sun, May 13th, 2018

2018’s Bear Market Hasn’t Dissuaded New Cryptocurrency Investors in South Africa

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While plenty of individuals around the world undoubtedly got scared off after buying at all-time highs and subsequently watching the value of their cryptocurrency holdings take a nosedive, one recent survey in South Africa suggests the negative consequences of early 2018’s bear market haven’t dissuaded the uninitiated from testing the waters. 
Still Interested
South Africans who have yet to invest in cryptocurrency are still planning on investing in the young market, according to the MyBroadband 2018 Cryptocurrency Survey.

As noted by the largest IT Website in South Africa, 1,244 readers in April completed the survey in question —providing a solid sample which accurately illustrates “the sentiment of tech-savvy South Africans towards cryptocurrencies.” As noted by MyBroadband:
Of the survey respondents who do not own or who have never owned cryptocurrency, almost 50% said they plan to invest in an aspect of cryptocurrency or crypto mining in 2018.
This group’s planned investment was broken down as follows:
25% will invest in cryptocurrency.
15% will invest in cryptocurrency and crypto mining.
7% will invest in crypto mining.
It is also worth noting that 78 percent of respondents claimed to own or have previously owned cryptocurrencies, and 53 percent of all respondents …

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