Uptick in South African women chasing crypto-currency

South African crypto exchanges are witnessing a higher number of women dealing in digital currencies.

This as the price of Bitcoin, the world’s most popular crypto-currency, is, of late, enjoying a purple patch.

At the time of writing, Bitcoin was trading at $11 363 (R174 000), marking its best weekly performance of the year so far.

Recent findings from AltCoinTrader, one of SA’s leading crypto-currency exchanges, reveal an overall increase in women owning crypto-currencies.

According to AltCoinTrader’s internal data, 39% of registered traders are women.

“We are definitely seeing an increase in the women that own crypto-currencies, as opposed to previous years. As the industry matures, more women are actively partaking in this evolution,” says Richard de Sousa, senior partner at AltCoinTrader.

The crypto-exchange says millennial investors are also more eager than ever before to invest in crypto-currency assets.

It explains that millennials are more open to including crypto-currencies in their investment portfolios.

Millennials usually look for more convenient and cheaper ways of banking and saving, and as a result of this, crypto-currencies seem to be a more lucrative offer, it adds.

Even though men still own most of the pie with a 61% share, it is evident that women are also on the rise, increasing their knowledge and investing in digital assets, says De Sousa, noting that as crypto-currencies like Bitcoin are still a relatively new phenomenon, more South Africans are starting to get into the space.

Exchanges that operate in a regulated environment are expected by government and regulators to know their customers.

“The thing to consider is that our clients often hold rands, and as AltCoinTrader is a regulated exchange, we are obliged to collect know-your-customer information from all our clients,” De Sousa explains.

“As we are working as a financial institution and dealing with rand clients, we need to, by law, have their details.

“Once they buy the…

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