A new report has revealed that Pick n Pay customers are now spending over R1 million every month on groceries using cryptocurrency as payment. This is a huge jump from the R25,000 spent monthly in 2023. The report, from crypto trading platform Luno, shows that more South Africans are using crypto for everyday payments rather than just as an investment.
Since launching in September 2023, Luno's crypto payment feature has processed over R3 million worth of transactions. The average amount spent per purchase using Luno Pay is R370, with the largest single transaction so far being R10,000. Bitcoin is the most popular cryptocurrency used for these payments.
While cryptocurrency use is growing, it's still not widely adopted in the traditional financial system. However, services like Luno Pay are making it easier to use crypto as regular money.
As more people use crypto, it’s becoming more than just an investment. People are now looking for ways to spend their digital currency without having to convert it back into traditional money. Crypto adoption continues to grow, and it could soon be a common way to pay for everyday goods.
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How to register & deposit Rands on Luno South Africa
1. Sign up with my invite link
2. Deposit and buy ZAR 500 in BTC (Luno exchange not included)
3. We both get ZAR 25.00 free BTC
Click this link to register on Luno now! https://www.luno.com/invite/ZT6AD
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