How substantially funds South Africans created from crypto mining
The MyBroadband 2018 Cryptocurrency Study has uncovered that the bulk of South Africans who owned a crypto mining rig created a earnings from the undertaking.
The survey was done by 1,244 MyBroadband visitors, and is a great representation of the sentiment of tech-savvy South Africans in direction of cryptocurrencies.
Of those people who took portion in the study, 23% said that they own or have owned a cryptocurrency mining rig.
Cryptocurrency mining rigs which are preferred in South Africa include ASIC miners, designed especially to mine cryptocurrencies like Bitcoin, and GPU mining rigs, which are applied to mine tokens like Ethereum.
Mining for financial gain
66% of the study respondents who possess or have owned a crypto mining rig stated that they made a profit from their machine.
Of all those who made a financial gain, the the greater part built up to R50,000 in gains from mining.
Survey respondents who did not make a earnings from mining did not experience sizeable losses, having said that, with the greater part not getting rid of extra than R10,000.
Apparently, around 60% of respondents stated they are even now mining cryptocurrency, inspite of tokens having a significant knock in benefit in the course of the opening months of 2018.
17% of respondents explained they have sold or disassembled their rig, with the latter probable to have been carried out to accessibility the precious graphics playing cards in GPU rigs.
The outcomes of the study are comprehensive in the infographic beneath.