Germany, residing in Europe’s predominant location, gives businessmen and investors access to the entire market of the continent’s union including Central and Eastern Europe. Taking that on board, this suggests that Germans may have heard or tried Bitcoin and other cryptocurrencies. The answer lies in a survey conducted by Deutsche Postbank from February to March 2018.
A sample of 3,100 Germans was surveyed and interviewed regarding cryptocurrency usage and awareness. Approximately 29% of them were interested in digital coins as an investment, with the statistics rising to 46% for 18 to 34-year old individuals. Considering the gender, 60% of women and 51% of men acknowledged “independence from established financial systems” as an important driving element. Quite the opposite, 56% of men against 36% of women are more driven by the possibility of high returns.
As regards to the sample’s age, individuals between 18-34 years of age are particularly warming up to cryptocurrencies. In this bracket, 46% are, almost every second, interested in investing. Meanwhile, 6% of which has already invested while another 14% claims to start for the next twelve months.
With all the findings, it concludes that three out of ten Germans consider crypto-investments regardless of their age and gender. This introduces promising and encouraging numbers for Europe’s economy and the future of cryptocurrency.
A WARNING TO ALL INVESTORS
Discussing other intriguing factors related to the survey, Postbank’s Digital Department Head, Dr. Thomas Mangel, revealed in a press release that the decline in crypto-assets for the last few months did not directly affect the popularity of cryptocurrencies in Germany. The main reason, possibly, for the lack of awareness and usage is that people still don’t fully understand the opportunities and risks of cryptocurrencies as an investment. Additionally, Mangel warns those who are planning to do an investment with little to no knowledge of what they’re doing: “Despite all the fascination, young investors should not lose sight of offers from the established banking system. Anyone who already makes an investment in securities as an investment should certainly not invest in cryptocurrencies because of the high risks involved. Because this type of investment is highly speculative.”