Cryptocurrency in South Africa has officially shed its reputation as a speculative gamble, according to the Discovery Bank SpendTrend26 report. The study, conducted in partnership with Visa, reveals that South Africans are increasingly integrating digital assets into their core investment strategies alongside traditional holdings like stocks and property.
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The most significant finding in the report is a fundamental shift in buying behaviour. Rather than making large, irregular, and speculative trades, South African investors have transitioned to a “little and often” pattern. VisaNet transaction data shows that by 2025, transaction frequency reached approximately 2.5 purchases per active card user.
This move toward smaller, regular contributions suggests that “dollar-cost averaging”, a disciplined investment strategy, has become the mainstream standard. This behavioural change was driven largely by middle-income consumers:
- Mass Market clients: Saw a 26% increase in transaction frequency.
- Mass Affluent clients: Recorded a 13% rise in frequency.
- High Net Worth & Everyday Affluent: Also showed maturing patterns, with growth between 12% and 15% into 2025.
Data from the South African Reserve Bank indicates that by mid-2025, roughly 7.8 million people (about 13% of the population) were using major cryptocurrency platforms. Awareness is even higher; 70% of respondents are familiar with digital assets, and 54% have owned crypto at some point.
Mobile-first platforms have played a crucial role in lowering the barriers to entry. By simplifying onboarding and app-based trading, these platforms have made cryptocurrency the primary entry point for younger consumers into the broader financial markets.
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A major catalyst for this mainstreaming was Discovery Bank’s 2025 integration with Luno. This partnership allows clients to link their bank accounts directly to the crypto platform to buy, sell, and track over 50 assets in real time. Features like instant, fee-free fund transfers and the ability to earn Vitality Money points on crypto balances have further blurred the lines between traditional banking and digital finance.
Luno South Africa Country Manager Christo de Wit noted that the trend is now extending beyond mere holding. “South Africans are increasingly moving from holding Bitcoin as an investment vehicle to using Bitcoin for day-to-day expenses,” he stated.
As crypto becomes a standard line item in the South African budget, the report suggests that digital assets are no longer a niche curiosity but a permanent fixture of the local financial landscape.
