Cryptocurrency adoption is on the rise in South Africa, according to’s latest Cryptocurrency Adoption Index.

The study shows that 11% of South African adult Internet users, or an estimated 4,5-million people, owned cryptocurrency in the December survey, up from 10% in October – an increase of one percentage point.

Bitcoin is still the most popular coin to own (6,3%), followed by Ethereum (3,5%) and XRP (2,9%).

Cryptocurrency ownership in South Africa is below the global average of 15% but higher than countries like the US (10%), Germany (8%), and the UK (6%).

Out of the 27 countries surveyed in the study, South Africa ranks 21st in terms of cryptocurrency ownership.

Meanwhile, Vietnam has the most cryptocurrency investors (29%), followed by India and Australia (23% each), while Japan and the UK have the fewest crypto investors (6% each).