Survey: South Africans Turning to Crypto as Hedge Against Volatility of the Rand34.94

A survey by Luno, a London-based cryptocurrency platform, has revealed that a growing number of people in South Africa prefer holding cryptocurrencies such as bitcoin and bitcoin cash rather than the local fiat unit, the rand. About 70 percent of South Africans have heard about virtual currencies, and most people have been using them as a hedge against inflation and exchange volatility, the report said.

Also Read: Exchanges Roundup: Luno Expects ‘Open’ South African Rules

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