Survey: 50% of Africans invest in cryptocurrencies to pay for their children’s education

A recent survey by Luno shows that most investors from Kenya, Nigeria and South Africa invest in cryptocurrencies to fund their children’s education and secure a better future for them. What else did the survey reveal?

Survey, cryptocurrencies, Africa and education

The London cryptocurrency company Luno recently came up with a new survey focusing on adoption and cryptocurrency investments in Africa. The survey surveyed almost 7,000 participants from Nigeria, Kenya and South Africa. Several countries from all over the world also took part.

According to the results, most people in the African countries surveyed are financially savvy and invest in reasonable and long-term goals. The survey states that 69% of the population of African countries deal with cryptocurrencies to ensure a better life for their families.

The survey further states that less than half divided their salaries into digital assets to cover the future costs of their children’s education. 43% have set up a fund to pass on to their relatives. The rest state that they have no plan when making investment decisions.

Luno’s CEO described the situation in Africa as a cryptocurrency revolution, adding that there was huge potential on the continent. He stated:

“Much attention has been paid in recent weeks to the scale of the African cryptorevolution, and while its potential is very exciting, it is important to ensure that consumers engage in this transition in a safe and responsible way.”

Conclusion

Africa is one of the largest continents, where the adoption of cryptocurrencies is advancing rocketing. Nigeria and South Africa dominate the highest adoption rates. Thus, cryptocurrency optimism comes from Africa. You can read the entire Luno survey under the attached link HERE.