Thursday, September 30, 2021

Crypto investors in African countries have “Good Financial Habits”, says Luno 

Luno, the leading global cryptocurrency company, has today revealed in a new online global survey that only 3% of cryptocurrency investors in the African countries surveyed (Nigeria, Kenya and South Africa) do not have a plan when making investment decisions, delivering a groundbreaking insight into how consumers manage the investment risks attached to the continent’s growing wave of crypto adoption.

The findings emerged when respondents were asked which statement best describes their investment approach with 35% saying they limit speculative investments to a small percentage of their funds, 32% stating they react to market changes and invest where they feel comfortable and 29% describing their approach as having a plan and sticking to it.

The survey, which included nearly 7,000 respondents from Nigeria, Kenya, South Africa, UK, Australia, Indonesia and Malaysia, not only found cryptocurrency investors in the three African countries to be financially-savvy, but also to be investing for sensible and long-term goals.

69% of crypto investors surveyed in Kenya, Nigeria and South Africa says the most important purpose of having money to them is to secure the well-being of their family and leading uses for returns on investments amongst adults in these countries willing to invest their salary in cryptocurrency included paying for children’s education (48%), savings for a home deposit (39%) or to establish a fund to pass onto their grandchildren/children (43%).

Across all the countries surveyed globally, Kenyans were found to rely most heavily on traditional sources of financial advice such as financial services companies (28%), financial publications (18%) and independent financial advisors (17%).

However, Kenya also led the survey in terms of its knowledge gap regarding cryptocurrencies with 64% of those who would not consider investing stating they don’t invest in cryptocurrencies as they don’t understand enough about them compared to 55% and 56% in Nigeria and South Africa respectively.

Speaking on the findings, Marius Reitz, Luno’s General Manager for Africa, says, “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. This research offers a major boost of confidence that this is happening – we’ve always focussed on ensuring we promote safe practices as an exchange through our focus on self-regulation and it’s encouraging to see customers replicating this through a considered and well-informed approach to investing.”

Luno’s research also shows that cryptocurrency holders across the globe aren’t singularly focused on digital currencies.

In fact, they are much more likely than their peers to save and invest in other asset classes. The overwhelming majority (78%) of cryptocurrency investors save regularly, versus approximately two-thirds of the general population (65%).

Not only do crypto investors save regularly, but they are also much more likely to hold diverse portfolios. Adopters of cryptocurrencies globally are also much more likely to hold other types of financial assets including bonds (19% v 10%) and even gold (25% v 14%).

Kenfield Griffith, CEO and Founder of Ajua, Africa’s first integrated customer experience company for businesses, adds, “As the growth of fintech brings more transactions online in Africa, it’s vital that businesses go the extra mile to understand the habits and reasons behind their customers’ behaviour as there’s a huge growth opportunity to be unlocked.

These findings from Luno should not only provide them with greater assurances about the safety of their customers, but should also put them in a much stronger position to optimise the customer experience on their platform and deliver more services that help their users achieve their financial goals.”

To add to this or start a conversation, join our forum to share your opinions with other readers. For stories of this sort and more, do well to log on to www.jbklutse.com or visit us on Facebook



source https://www.jbklutse.com/crypto-investors-in-african-countries-have-good-financial-habits-says-luno/

No comments:

Post a Comment

Latest TECNO phones and their prices in Ghana [2022]

If not the first, TECNO Phones are among the earliest Chinese phone brands to enter the Ghanaian market. It is a brand of TRANSSION Holding...