FILE PHOTO.

CAPE TOWN - Recent findings from, AltcoinTrader one of South Africa’s leading cryptocurrency exchanges, reveal that more men own cryptocurrency between the ages of 18 and 40 but women owners are on the rise. 

The highest age group recorded subsequently is between 30 and 40 including females, that own cryptocurrency as a whole.

Partner at AltcoinTrader, Richard de Sousa said: “We think that the growth in this market is still at its infancy and as more regulatory frameworks get developed over time in this space, more people will get into it. There will definitely be an increase in our records across all of these generations as the market evolves.”

This group is a culmination of the Xenial and Generation Y or “millennials”. They are born between 1978-1988 and are dominating this space owning bitcoin or other cryptocurrencies. Although there are more men generally internationally in the cryptocurrency market, there is a high rise of women in various age groups. 

“As cryptocurrencies such as bitcoin are still a new phenomenon, we are starting to see more South African’s get into this space,” the company said in a statement. 

Males dominate again the in the 18-30 year category. This group is classified as Generation Z, born between 1995-2012. Generation Z is part of a generation that is global, social, visual and technological. They are the most connected, educated and sophisticated generation ever.

The company’s findings also revealed that women dominated in the 40 to 80 age account groups.

City AM also reported that over the last six months, the number of women considering an investment in cryptocurrencies had grown from 6 percent to 13 percent.

The report was based on a market research conducted by a UK cryptocurrency exchange London Block Exchange, which showed that cryptocurrency was most popular with women in the millennial generation, one out of five of whom express a desire to invest.

-BUSINESS REPORT