- 44% of German investors see crypto as the future of finance.
- About 6.1 million Germans not already invested are interested in the nascent market.
- German investors are focused on long-term and passive income.
Germany was one of the first countries to recognize Bitcoin and digital assets, but it is yet to lead the pack in crypto adoption. However, according to data from a recent survey from crypto exchange Kucoin, this might be about to change.
Data From The Survey
In the German edition of crypto exchange Kucoin’s “Into The Cryptoverse report,” the exchange reveals data from its survey conducted in the European country last October. According to the data, 44% of Germans invested in the nascent market see it as the “future of finance.”
16% of Germans aged 18 to 60, about 7.5 million people are already investors in the nascent market. The data shows that 41% of these plan to increase their holdings in the next 6 months. While 13% of the German population, about 6.1 million people, are interested in the crypto market. The data reveals that 23% of the curious people are likely to invest in the crypto market in the next 6 months.
While some are skeptical about jumping into the market, some have been in the ecosystem for a long time. Data shows that 17% of crypto investors have been in the market for over 2 years, while 25% started trading crypto less than 3 months ago. Notably, 45% of crypto investors in Germany entered the crypto market just before the markets surged to ATHs in November. Meanwhile, among the 17% that have been trading for over 2 years, 4% have been in the market for at least 6 years.
While men are leading the charge, with 69% of crypto investors in the country being male, according to data, women are more curious than men. The data shows that 53% of the population curious about the developing market are women. Also, unsurprisingly, the young ones dominate the crypto investment scene, with 67% of the crypto investors aged 18 to 30.
Kucoin data reveals that the focus for many German investors is on long-term investments and passive income. Notably, as per the report, staking and crypto lending volume are higher in Germany than in spot trading, with the Germans favoring scalable blockchains like Cardano, XRP, and Terra.
German Crypto Regulations And EU Stance
Despite being one of the first to recognize crypto as early as 2013, Germany is yet to have clear legal regulation on the nascent market. However, the action of Germany’s foremost financial authority, BaFin, may indicate that the country is not opposed to the industry. Coinbase last year was recognized as a regulated crypto custodian in the country.
Germany remains one of the most powerful members of the EU; as such, its policies may influence or give a clue as to the bloc’s position on crypto.