A survey shows that the majority of Africans Put money into Crypto to Pay for Their Kids’ Schooling. Africans to allow them to pay crypto in child’s education. The majority of crypto owners from Nigeria, Kenya, and South Africa deal with cryptocurrencies to allow them to present a greater future for their children
Based on the latest poll, most cryptocurrency investors from Kenya, Nigeria, and South Africa have entered the digital asset market with long-term goals equivalent to securing their households’ wellbeing.
Crypto to Fund Children’s Education
The London-based company – Luno – carried out a survey with almost 7,000 participants from Nigeria, Kenya, South Africa, the UK, Australia, Indonesia, and Malaysia to find out the reasons that drove them into getting concerned with digital assets.
Per the results, most residents of the three African countries are financially savvy and invest in smart and long-term objectives as 69% of them deal with crypto to supply a greater life for his or her families.
Taking a closer look, 48% would allocate their salaries in digital assets to pay for their children’s future educational costs. Compared, 43% would do the same to establish a fund to cross on to their family. Only 3% admitted they don’t have any plan when making investment decisions.
Marius Reitz – Luno’s General Manager for Africa – described the situation in Africa as a “crypto revolution,” including that there’s huge potential in the continent:
“In recent weeks, there’s been lots of attention on the scale of Africa’s crypto revolution, and while its potential is hugely exciting, it’s vital we guarantee consumers are partaking with this transition in a safe and responsible manner.”
However, a big proportion of the locals lack primary data about cryptocurrencies, which is why they might not take into account investing in them. 55% of Nigerians revealed they don’t perceive something in regards to the asset class, whereas the share in South Africa and Kenya stood at 56% and 64%, respectively.
What about The Rest of The Countries?
Nearly all of the members from the UK, Indonesia, Australia, and Malaysia shared considerably completely different arguments for entering the digital asset space than the African residents.
41% of Australians admitted they spend money on crypto to save for a property whereas adding to the pension pot is the top answer for the participants from the UK, Indonesia, and Malaysia.
The results additionally informed that almost one-third of crypto investors have as much as 10% of their portfolio in digital assets. 12% have 11 to twenty%, and 10% have allotted 21 to 30% of their wealth in bitcoin or the altcoins.
Moreover, the survey revealed that crypto holders are more likely to carry different varieties of financial assets versus the general population. For example, 4% of the Kenyan members mentioned they personal each digital assets and gold, whereas this metric jumped to respectively 39% and 63% in Malaysia and Indonesia.