Almost half of Germans invest in crypto

44% of Germans are interested in crypto and willing to invest, according to a report from KuCoin.

Crypto Investments in Germany

The richest country in Europe is discovering the crypto world. According to a report from KuCoin, which shared some statistics about the future of crypto in Germany. 44% of Germans are willing to invest in cryptocurrencies and want to be part of the future of finance. More than a third, 37%, of German crypto investors have been trading cryptocurrencies for more than a year. Johnny Lyu, CEO of KuCoin, the company publishing the report, explained the state of play of Germany crypto investors:

“Cryptocurrencies are very popular among the adherents of the accumulation strategy, especially among the younger generation. They prefer to save for their retirement themselves and diversify their savings through the use of cryptocurrencies.”

Lyu does warn that despite the high demand for cryptocurrencies among Germans, the country does not yet have specific regulations regulating the use of digital money.

Germany was the first country to recognize that Bitcoin had value and that it can be classified as a “financial instrument.” According to the report. So far, the local regulator has had only a little bit of success in regulating crypto.

Germany was the first country worldwide to blockchain strategy assumed. Germany’s political position vis-à-vis cryptocurrencies was discussed during the recent parliamentary elections.

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Germany is a role model for European countries

For Florian Döhnert-Breyer, managing director of F5 Crypto, Germany is a role model for other EU countries. The population is generally more open to long-term investments.

“In addition, as the largest country in the EU with a notoriously risk-averse view of financial assets, Germany plays a special role. The high number of women interested in crypto is especially encouraging. Since this target group is on average less active in the financial market.”

It is striking that more and more women are investing in cryptocurrencies. It can also be seen that especially young people invest in shares and cryptos. This is because this group is more aware of the danger of inflation.

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However, the future remains uncertain, especially in regulatory terms as BaFin continues to warn of the risks. BaFin is Germany’s federal financial regulator, responsible for regulating crypto. They recently gave the green light to neobank N26 to start trading crypto in 2022.

Döhnert-Breyer is confident that Germany will continue to push for crypto-friendly legislation. BaFin’s recent actions, such as approving custodial licenses and Bitcoin-based security tokens, are promising signs.

Germany may not have the same playing field compared to Switzerland and the UK, but there is some movement on the legislative side.” According to Gehra.

Lyu finally said:

“Last year, Germany took the first official step towards accepting crypto investments by approving special funds for investing in digital coins. I think the country has laid a good foundation to create a favorable environment for crypto users.”

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