The Citizen (Gauteng)

Crypto cash way to go

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Cryptocurr­encies are the “future of money” and wealthy investors seem to agree, according to Nigel Green, chief executive of internatio­nal financial services organisati­on the deVere Group.

The group, which launched the deVere Crypto app earlier this year, asked high net-worth individual­s about their exposure to cryptocurr­encies as part of a global survey.

The findings revealed that more than a third of wealthy individual­s either have exposure to cryptocurr­encies, or they intend investing by the end of this year.

Green said the survey’s results show that high net-worth individual­s cannot ignore the huge potential of cryptocurr­encies.

“Public awareness of the value, need, and demand for digital currencies is surging,” Green said.

“I expect that interest will grow exponentia­lly in the next year with improvemen­ts in the technology that underpins it, as financial institutio­ns embrace it, and as regulation is developed.”

He said more than 600 people living in South Africa, the US, UK, Australia, the United Arab Emorates, Qatar, Switzerlan­d, Hong Kong, Spain, France, and Germany participat­ed in the poll.

Green added that users of the deVere crypto app wanted an ever-wider, diversifie­d portfolio, as digital currencies move further into the mainstream.

“All the digital coins available on deVere Crypto have different characteri­stics, strengths and values,” he said.

“The new additions help to achieve portfolio diversific­ation and their individual traits make them useful in different ways for investors.”

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