REPORT: 23% of SA's high tech consumers own cryptocurrency
Technology / 14 August 2018, 9:00pm / Staff Reporter
DURBAN - The Digital Lifestyle Measure report by MBIT shows that 23 percent of South Africa's "high-tech" consumers own cryptocurrency.
According to the DM segmentation, a high-tech consumer is classified as a DLM 5 consumer while a low-tech consumer is known as a DLM 1 consumer.
A person is categorised according, to the scores that they receive for questions they have answered about their personal digital lives and the technologies that they own.
In order to be categorised, a consumer must have at least one type of internet access. Due to 55 percent of the population having access to the internet only that number was classified.
According to the report, 42 percent of DLM 5 consumers and 30 percent of DLM 4 consumers felt that cryptocurrency has a place in the future and while 41 percent of DLM 1 consumers did not know what cryptocurrency is.
The 34 percent of the DLM 3 consumers said that they had no idea of what is going to happen while 26 percent called it the future of transacting.
% of ownership
The survey also looked at banking and the primary bank for each DLM category.
According to the report, 47 percent of DLM 5 consumers banked with FNB while 41 percent of DLM 1 consumers banked with Capitec bank. The second most popular bank for DLM 5 and DLM 1 consumers was Capitech and Nedbank respectively.
At least 92 percent of DLM consumers or high tech consumers said they used internet banking and mobile banking applications. According to low tech consumers, 55 percent of them use a mobile banking application and 53 percent of them use internet banking.
The report also showed the high tech consumers are more likely to pay for something using a mobile payment application in comparison to a DLM 1.