On Freedom Day, Bitcoin gives South Africans a stake in their financial future
"Freedom Day means you are free to use your own money to live your best life," said BitcoinZAR, a Bitcoin advocate in South Africa. On Wednesday, South Africa celebrated Freedom Day, which honors the country's first post-apartheid democratic election in 1994.Cointelegraph reached out to different notable individuals in the South African crypto community to see what the holiday meant to them. BitcoinZAR, a Bitcoin advocate in South Africa, noted that "Freedom Day means you are free to use your own money to live your best life," adding:“We are free on Freedom Day to choose Bitcoin instead of....
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According to the findings of a study by KLA, a market research and data specialist firm, some 47% of South African adults are holders of cryptocurrency, with the majority of this number holding low-value investments. In addition, the study shows that 36% plan to invest in crypto in the future. South Africans Still Experimenting With Cryptocurrency Though the KLA findings report that 47% of South Africans are holders, the Businesstech report quoting KLA’s Tessa Nowosenetz explains the value of crypto assets held is still very low. This low average value suggests that many are still....
About 53% of South Africans have little to no knowledge about cryptocurrency, while only 14% thought or felt they had a better understanding of the subject, a report has said. Nearly half of the respondents said they would only invest in cryptocurrency if or when their respective banks are involved.
South Africans Weigh In on Crypto Knowledge
According to the findings of Merchant’s consumer survey study, just over half of South Africans (53%) have little to zero knowledge about cryptocurrency. The study also found that out of the surveyed South Africans, only 14%....
Supporters of MMM, which is accused of being a Ponzi scheme, marched in Soweto, South Africa in celebration of the Financial Freedom Awareness campaign, coinciding with South Africa’s Freedom Day, according to Independent Online (IOL), a South African news source. MMM Global is under investigation by The Hawks, South Africa’s Directorate for Priority Crime Investigation (DPCI), which targets organized crime, economic crime, and corruption. Brigadier Hangwani Mulaudzi said investigations into MMM continue. The scheme is active in various countries and has been accused of being a Ponzi....
About 8.3% of polled South African internet users own NFTs while a further 9.4% said they plan to acquire such tokens in the future, a study has found.
Twelfth-Highest NFT Adoption Rate
According to the findings of the latest Finder online survey, about 8.3% of the 1,205 South African internet users surveyed own a non-fungible token (NFT). These findings are enough to see South Africa ranked as the country with the 12th highest NFT adoption in the world.
In terms of internet users that plan to acquire NFTs in the future, the survey found that 9.4% of polled South....
South African authorities are the latest to warn against using Binance, saying the exchange is not authorized to operate in the country. South Africa’s Financial Sector Conduct Authority (FSCA) has warned the country’s public against dealing with crypto exchange platform Binance.In a statement issued on Friday, the FSCA stated that Binance Group, an “international company” domiciled in Seychelles, was not authorized to render financial services in the country. Binance is indeed headquartered in The Cayman Islands and Seychelles.As part of the warning, the FSCA indicated that South Africans....