Close to one in two Germans want crypto
New research from crypto exchange, KuCoin, suggests that 44 per cent of Germans want crypto investments. It’s a rapidly maturing space in the country, too: over one in three crypto investors have been doing so for over a year now.
This is despite Germany being one of the laggards when it comes to regulating crypto. To date, there are no specific regulations around the use of digital money. Germany was one of the first nations to adopt a blockchain strategy and recognise Bitcoin as a ‘unit of value’. However, so far the regulatory forces have only had modest success, leading to a lot of uncertainty among investors and crypto businesses.
According to the CEO of KuCoin, Johnny Lyu, Germans look to crypto as a diversification strategy. “Cryptocurrencies are very popular among the supporters of the accumulation strategy, especially among the younger generation,” he said in the report. “They prefer to save for retirement on their own and diversify their savings through the use of cryptocurrencies.”
Statistics of interest
Other statistics of interest from the report include:
- 29 per cent of Germans hope to become financially independent with cryptocurrency.
- German investors expect a not more than 10 per cent return through 5 per cent loss on their investments.
- 77 per cent of “crypto-curious” are actively reserarching assets to invest in.
- 69 per cent of German crypto investors are men, while 53 per cent of the “crypto-curious” are women. This suggests that women were slow starters but are rapidly becoming a force in the German crypto scene.
KuCoin, a global exchange with hundreds of assets available to trade on its platform, recently reported massive interest in crypto across Africa. It was also recently in the news for backing itself – and the crypto industry – and paying its employees bonuses in crypto.