One of the most reputable cryptocurrency exchanges recently published the results of their market research. Kucoin took a look at German investors and draws some very interesting conclusions.
Germans are definitely on the side of crypto
KuCoin in its report clearly indicates that almost half of Germans have already invested in cryptocurrencies, or at least plan to do so in the near future. To illustrate the exact data, we are talking about 44% of the country’s citizens motivated to buy crypto, while 37% declare to have participated in the market for at least a year.
KuCoin CEO Johnny Lyu notes that such a situation is mainly due to the determination of the younger generation, who prefer to diversify their portfolio and save for their retirement. Germans also show high investment awareness, especially in times of increased inflation.
At the same time, the report notes that 69% of crypto investors in Germany are men. Although there are far fewer women, their percentage has been increasing recently. Thus, they are getting increasingly interested in the new future of finance.
Germany one of the most financially aware nations in the world
Germany’s economy is the fourth largest in the world and the largest force in the European Union. Its GDP per capita exceeds $50,000. Germany is considered to be one of the most economically literate nations. This was demonstrated, for example, during the Covid-19 pandemic, when Germans were able to avoid the serious consequences of difficult decisions due to their accumulated cash reserves. Nevertheless, as with most countries in the world, there is an elevated level of inflation, which currently stands at 5.1%.
Therefore, the citizens of the country avoid keeping their funds in cash. Hence, in addition to the popularization of investments in stocks, they decide to move some of their funds to the cryptocurrency sector.
It is worth noting here that Germany is one of the first countries to recognize Bitcoin and cryptocurrencies as systems that represent value. Digital coins are also classified there as financial instruments. In the past year, there was a lot of noise about the new decisions of the regulators there, who allowed Spezial-AIF funds to invest in the sector. We wrote more about this in the article under the title “German institutional funds, according to the new law can now buy Bitcoin”. If you haven’t read it yet, be sure to take a look!