CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$23,085.00
  • ethereum
    ETH$1,696.10
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    • Opinions
    CryptoPotato
    CryptoPotato
    • Crypto News
    • Margin Trading
    • Guides
      • Bitcoin & Crypto Guides 101
      • Bitcoin For Beginners
      • Editorials
    • DeFi & NFT
    • Buy
    • Language
    • Crypto News
    • Bitcoin For Beginners
    • Cryptocurrency Guides 101
    • Editorials
    • Bitcoin & Crypto Margin Trading
    • DeFi & NFT News
    • Bitcoin Price Analysis
    • CryptoPotato Crypto Fund
    • Ethereum (ETH) Price Analysis
    • Ripple (XRP) Price Analysis
    • Market Updates
    • Interviews
    • Buy Bitcoin with Card
    Home » Crypto News » 50% of Africans Invest in Crypto to Pay for Their Children’s Education: Survey

    50% of Africans Invest in Crypto to Pay for Their Children’s Education: Survey

    Author: Dimitar Dzhondzhorov

    Last Updated Oct 3, 2021 @ 15:20

    The majority of crypto owners from Nigeria, Kenya, and South Africa deal with cryptocurrencies so they can provide a better future for their children.

    According to a recent poll, most cryptocurrency investors from Kenya, Nigeria, and South Africa have entered the digital asset market with long-term goals such as securing their families’ wellbeing.

    Crypto to Fund Children’s Education

    The London-based company – Luno – conducted a survey with nearly 7,000 participants from Nigeria, Kenya, South Africa, the UK, Australia, Indonesia, and Malaysia to determine the reasons that drove them into getting involved with digital assets.

    Per the results, most residents of the three African countries are financially savvy and invest in sensible and long-term goals as 69% of them deal with crypto to provide a better life for their families.

    Taking a closer look, 48% would allocate their salaries in digital assets to pay for their children’s future educational costs. In comparison, 43% would do the same to establish a fund to pass on to their relatives. Only 3% admitted they have no plan when making investment decisions.

    Marius Reitz – Luno’s General Manager for Africa – described the situation in Africa as a “crypto revolution,” adding that there is vast potential in the continent:

    ADVERTISEMENT

    “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.”

    However, a large proportion of the locals lack basic knowledge about cryptocurrencies, which is why they would not consider investing in them. 55% of Nigerians revealed they don’t understand anything about the asset class, while the percentage in South Africa and Kenya stood at 56% and 64%, respectively.

    What about The Rest of The Countries?

    The majority of the participants from the UK, Indonesia, Australia, and Malaysia shared somewhat different arguments for entering the digital asset space than the African residents.

    41% of Australians admitted they invest in crypto to save for a property while adding to the pension pot is the top answer for the participants from the UK, Indonesia, and Malaysia.

    The results also informed that nearly one-third of crypto investors have up to 10% of their portfolio in digital assets. 12% have 11 to 20%, and 10% have allocated 21 to 30% of their wealth in bitcoin or the altcoins.

    Additionally, the survey revealed that crypto holders are much more likely to hold other types of financial assets versus the general population. For example, 4% of the Kenyan participants said they own both digital assets and gold, while this metric jumped to respectively 39% and 63% in Malaysia and Indonesia.

    SPECIAL OFFER (Sponsored)
    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.

    You Might Also Like:

    • ReserveBankofAustralia
      Australia, Singapore, Malaysia, and South Africa to Conduct a Mutual CBDC Project: Report
    • Australia
      Survey: Every Sixth Australian Owns Crypto as Bitcoin Maintains Popularity Crown
    • Crypto Adoption in Africa Surged 1,200% in 2021, Chainalysis
    Tags: Australia Nigeria South Africa Survey
    Enjoy reading? Share with your friends
    Facebook Twitter LinkedIn Telegram

    About The Author

    Dimitar Dzhondzhorov
    More posts by this author

    Dimitar got interested in cryptocurrencies back in 2018 amid the prolonged bear market. His biggest passion in the field is Bitcoin and he was fascinated with its journey. With a flair for producing high-quality content, he started covering the cryptocurrency space in late 2018. His hobby is football.

  • bitcoin
    BTC$23,085.00
  • ethereum
    ETH$1,696.10
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    Editorials
    Users in Web3 Will Do a lot More Than Just Trade Crypto: Cronos’ Ken Timsit (Interview)

    Users in Web3 Will Do a lot More Than Just Trade Crypto: Cronos’ Ken Timsit (Interview)

    Institutions Are Starting to Buy Back: Interview with Nansen

    Institutions Are Starting to Buy Back: Interview with Nansen

    Top 5 Most Common Scams Related to Ethereum 2.0

    Top 5 Most Common Scams Related to Ethereum 2.0

    What is the Merge? What You Need to Know About the Transition to Ethereum 2.0

    What is the Merge? What You Need to Know About the Transition to Ethereum 2.0

    These are the Bear Market Benefits, and the Future of NFTs: DappRadar CEO (Interview)

    These are the Bear Market Benefits, and the Future of NFTs: DappRadar CEO (Interview)

    5 Common Mistakes to Avoid During a Crypto Bear Market

    5 Common Mistakes to Avoid During a Crypto Bear Market

    The Cardano Roadmap Eras Explained: Byron, Shelley, Goguen, Basho, and Voltaire

    The Cardano Roadmap Eras Explained: Byron, Shelley, Goguen, Basho, and Voltaire

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    Footer Logo
    About
    Advertise on CryptoPotato
    About Us | Contact Us | Careers

    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Cannabis Stocks News | Market Analysis
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!