Almost half of Germans to invest in crypto: Report
The richest country in Europe is coming round to crypto. That’s according to a report by KuCoin which shared some flattering statistics towards the future of crypto in Deutschland.
Notably, 44% of Germans are “motivated to invest in cryptocurrencies to be a part of ‘the future of finance’”; while over a third, “37% of German crypto investors have been trading cryptocurrencies for over a year.”
Cointelegraph had previously picked up on crypto’s impressive and productive year in Germany, but it’s crucial to check the crypto sentiment on the ground.
Johnny Lyu, CEO of KuCoin–the company publishing the report–explained to Cointelegraph the state of play of Germany crypto investors:
Lyu caveats that “despite the high demand for cryptocurrencies among Germans, the country does not yet have specific regulations that unequivocally regulate the use of digital money.”
Indeed, while Germany was the first country “to recognize that Bitcoins are ‘units of value’ and could be classified as a ‘financial instrument,’” according to the report. So far the local regulator has merely had "some success in regulating crypto."
However, Germany was the first country worldwide to adopt a blockchain strategy and interestingly, Germany’s political position relative to cryptocurrencies came up for discussion during recent parliamentary elections.
For Florian Döhnert-Breyer, managing director of F5 Crypto, “Germany is a role model for other EU countries, whose populations are generally more open to long-term investments.” Furthermore, "As the largest country in the EU with a notoriously risk-averse view of financial assets, Germany has a special role to play." He adds:
The report states that “69% of crypto investors are men, while women account for 53%
Read more on cointelegraph.com
