A new report by Discovery Bank and Visa reveals that 7.8 million South Africans, approximately 13% of the population, now consider cryptocurrency a mainstream investment class. This marks a significant shift from speculative trading to disciplined investing, with middle-income trading growing by 26% in 2024. The report highlights that 70% of South Africans are familiar with digital assets, and over half have owned or currently own cryptocurrency.
The transition to mainstream adoption is driven by mobile-first platforms that simplify onboarding and trading. The report notes a shift in investor behavior towards smaller, more frequent transactions, indicating a move towards portfolio-style investing. This trend is evident across various income segments, with mass-market clients increasing transaction frequency by 26% in 2024. As South Africa's financial landscape evolves, digital assets are becoming a core component of investment portfolios alongside traditional assets like stocks and property.
7.8 Million South Africans Now Invest in Cryptocurrency, Report Finds
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