The Kasi Insight’s Cryptocurrency Survey revealed the cryptocurrency adoption within 20 African market with a focus on what cryptocurrencies were adopted, their usefulness , why people do not adopt crypto and if they were open to learning about Crypto. In Namibia, present cryptocurrency holders account for just 26% of the respondents, while an additional 23% express their intention to explore cryptocurrency ownership in the future. It's worth noting that 25% of individuals have previously engaged with cryptocurrencies but have since discontinued their involvement, and 26% exhibit a strong lack of interest in future ownership.
Bitcoin claims the crown
Bitcoin leads the pack with a substantial 46% ownership rate among the surveyed respondents. It's followed by Binance, which attracts 38% of participants. Solana and Ethereum also make their mark, drawing the attention of 27% and 25% of those surveyed, respectively. Additionally, OneCoin and Dogecoin have found a place in the wallets of 18% and 16% of the individuals surveyed.
Exploring gender-specific ownership patterns, Bitcoin enjoys slightly higher favor among females, with 47% ownership compared to 45% among males. However, Binance boasts a more substantial male ownership rate at 42%, compared to 34% among females. Notably, Solana stands out with a significant gender divide, as it garners a notably higher ownership rate among females at 33%, in contrast to the 18% ownership rate among males. When examining age groups, both Bitcoin and Binance dominate among millennials, with ownership rates of 48% and 40%, respectively. Meanwhile, the younger Gen Z demographic shows a remarkable affinity for Solana, with a remarkable 33% expressing a strong interest in this specific cryptocurrency.
Fast-Tracking profits 72% of investors chase quick gains in cryptocurrency
Cryptocurrency investments are driven by a range of motivations among respondents, with a prominent 72% aiming to capitalize on the potential for quick financial gains. Simultaneously, 28% of investors are propelled by a genuine desire to enhance their understanding of cryptocurrencies. The utility of digital assets for domestic or cross-border money transfers is a compelling factor, noted by 22% of participants, while 19% are inclined to use cryptocurrencies for online purchases. Another 19% choose to invest in cryptocurrencies as a means of diversifying their investment portfolios. Equally, 19% approach cryptocurrency investments purely for recreational enjoyment. Moreover, 17% are influenced by a sense of urgency, not wanting to miss out on the cryptocurrency market's potential.
Gender disparities emerge within these motivations. Females exhibit a slightly stronger inclination towards learning about cryptocurrencies and employing them for online purchases, whereas males express a more pronounced desire for swift financial gains and portfolio diversification. This diversity in motivations sheds light on the multifaceted nature of cryptocurrency investment, reflecting a blend of financial aspirations, learning, and practical utility among investors of different genders.
To boost cryptocurrency adoption in Namibia, focused education, tailored outreach, and popular cryptocurrency promotion are key
To boost cryptocurrency adoption in Namibia, crypto enthusiasts can implement targeted strategies. Launching educational initiatives through webinars, seminars, social media, and informative content is crucial to raise awareness, especially among the 23% of respondents who are less informed about cryptocurrencies. Tailoring outreach campaigns to Millennials and Gen Z, who are more receptive, allows for highlighting the financial benefits of digital assets. Recognizing gender-based differences in ownership and preferences enables gender-specific marketing efforts.
Focusing on popular cryptocurrencies like Bitcoin, Binance, Ethereum, and Solana can attract new investors, emphasizing their utility and investment potential. Content should prioritize quick financial gains and learning, sharing success stories and practical knowledge. Additionally, showcasing practical use cases for money transfers and online purchases can demonstrate the convenience of cryptocurrency. Providing investment resources and guidance for portfolio diversification is essential for those seeking to diversify their investments responsibly.
Contact our team today to explore how our consumer intelligence can empower your decision-making process. Win with confidence with Kasi insights: https://www.kasiinsight.com/thehub
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