In terms of percentage of internet users with digital currencies, South Africa is at the top of the list, a 2019 Hootsuite report reveals.
The report made use of the data gathered by GlobalWebIndex from Q2 to Q3 of 2018 from internet users aged 16 to 64. Among all the countries surveyed, South Africa yielded the highest percentage at 10.7%. Next in rank were Thailand at 9.9%, Indonesia at 9.5%, Vietnam at 9.3%, and Brazil at 8.2%.
South Africa’s ratio may not be that high, but it is way past the worldwide average crypto ownership which was computed at 5.5%. Some online users even already took to social media what they thought about the news on South Africa leading the world in crypto adoption. Twitter user @ProofOfSteve tweeted:
Interesting #survey results on % of respondents owning #crypto by #Country. #SouthAfrica leading with #USA at 5.3% & #UK at 4.1%. The virus is spreading & it will be a worldwide contagion💉 @cryptomanran @APompliano @MarkYusko @JWilliamsFstmed @novogratz @fundstrat #btc #bitcoin pic.twitter.com/3Msidt4vA1
— Steve ₿ (@ProofOfSteve) March 26, 2019
Another user @simondlr posted:
These are good numbers.
I'd say this is probably due to internet penetration in South Africa.
Internet penetration in USA is 88% whereas for SA it's 54%
Makes sense that we would have double the proportion of crypto buyers when we have half the proportion of internet access pic.twitter.com/xmwRenw5NF
— Wenmoon (@BooYah2) March 27, 2019
Apparently, some of the countries most active in the use of cryptocurrencies are not in the top five of the list. USA ranked 15th at only 5.3%. China ranked 22nd along with Taiwan at 4.2% and UK 24th at 4.1%.