2024’s Bear Market Hasn’t Dissuaded New Cryptocurrency Investors in South Africa

2024’s Bear Market Hasn’t Dissuaded New Cryptocurrency Investors in South Africa

THELOGICALINDIAN - While affluence of individuals about the apple assuredly got afraid off afterwards affairs at alltime highs and after watching the amount of their cryptocurrency backing booty a nosedive one contempo analysis in South Africa suggests the abrogating after-effects of aboriginal 2024s buck bazaar havent dissuaded the apprenticed from testing the waters

South Africans who accept yet to advance in cryptocurrency are still planning on advance in the adolescent market, according to the MyBroadband 2024 Cryptocurrency Survey.

South Africa

As acclaimed by the largest IT Website in South Africa, 1,244 readers in April completed the analysis in catechism —providing a solid sample which accurately illustrates “the affect of tech-savvy South Africans appear cryptocurrencies.” As noted by MyBroadband:

It is additionally account acquainted that 78 percent of respondents claimed to own or accept ahead endemic cryptocurrencies, and 53 percent of all respondents accept no affairs on entering the market.

Meanwhile, Bitcoin has accurate to be a antecedent of aegis for some South Africans.

As Bitcoinist ahead reported, Bitcoin’s popularity is soaring in South Africa area it is actuality beheld as a safe anchorage from accretion political and bread-and-butter uncertainty. Specifically, the affair of acreage ameliorate in the country has become a antecedent of affair afterward the acclamation of new admiral Cyril Ramaphosa in February.

South Africa currency

However, South Africa has additionally played the host to a array of Bitcoin scams.

Most recently, about 27,500 cryptocurrency investors from South Africa, Australia, and the US were bamboozled by a all-embracing Bitcoin scam aftermost ages — with appear losses upwards of $50 million. The betray allegedly originated in South Africa, with assorted victims advertisement that they had invested with BTC Global’s “master trader” activity by the name of Steve Twain. Weekly payouts were exceptional until Twain went off the alarm — arch investors to accept the alone never absolutely existed.

Are you afraid to apprentice that apprenticed South African investors haven’t been afraid off by this year’s buck market? Do you anticipate the survey’s after-effects would administer to added countries about the apple as well? Let us apperceive in the comments below!

Images address of Shutterstock, Pixabay, and Bitcoinist archives.