• Home
  • Blockchain
  • Crypto
  • Defi
  • NFT
  • Trading
  • World News
  • Contact
What's Hot

Exploring the Weird and Wonderful World of Cryptocurrency Websites

January 18, 2023

The best PR films to inspire your crypto marketing strategy

January 2, 2023

Cryptocurrencies and startups related to mental health are important topics in today’s world, which have become especially relevant in the era of the COVID-19 pandemic

December 26, 2022
Facebook Twitter Instagram
  • Home
  • Blockchain
  • Crypto
  • Defi
  • NFT
  • Trading
  • World News
  • Contact
CryptodailyNews24
  • Home
  • Blockchain
  • Crypto
  • Defi
  • NFT
  • Trading
  • World News
  • Contact
CryptodailyNews24
Home»Crypto»Germany: crypto mania is exploding
Crypto

Germany: crypto mania is exploding

Donald MunnBy Donald MunnMarch 29, 2022Updated:September 29, 2022No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

In Germany, 16% hold crypto and another 13% say they are interested in investing in cryptocurrencies in the next six months.

Germany expands crypto horizon

KuCoin recently published its new report “Into The Cryptoverse 2022“ dedicated to Germany. 

This is the German edition of Into The Cryptoverse 2022, which explores cryptocurrency adoption rates and local involvement in the decentralized industry in Germany.

The report indicates that the clear rules applied to the crypto industry since 2013 have had a positive effect on mass adoption in Germany. Indeed, it was the first European country to recognize Bitcoin as a “units of value” that can be used as a “financial instrument”.

kucoin reportKuCoin’s report on the use of cryptocurrencies in Germany

One of the most significant figures to emerge is that as many as 16% of the German population aged between 18 and 60 have invested, traded or owned cryptocurrencies in the last six months. 

It is worth remembering that the 2021 bull run actually began sixteen months ago and ended in November, so this figure only refers to the tail end of it, at least half of which was without an ongoing bull run. 

In addition, 41% of investors said they plan to buy more cryptocurrencies in the next six months. 

13% of respondents said they had not yet invested, but were curious and intended to do so in the next six months. Of these, however, most are still somewhat hesitant, with only 23% saying that it is very likely that they will do so. 

Of those who have invested, only 17% say they have at least two years of experience in crypto, and only 4% more than six years. In contrast, 45% said they had entered in the last six months, and 18% in the last twelve. 

The effect of the bull run on investors 

These figures clearly show that the boom has only been taking place recently, i.e. following the start of the last major bull run, with many people entering after the bull run had ended. 

Among the reasons why so many Germans have turned to crypto is the growing appeal of cryptocurrencies as a passive income tool, so much so that crypto staking and lending have become mainstream. In fact, 35% of respondents said this was their reason for investing. 

It turns out that on average, German investors are staking 24% of their total cryptocurrency holdings, thanks to higher average returns than bank savings. On average, they spend 13% on lending.

Other reasons include wanting to be part of the “future of finance” (44%), using cryptocurrencies as a reliable means of storing value (30%), or hoping to become financially independent (29%).

It is also worth noting that the percentage of male investors has dropped to 69%, whereas among the crypto-curious who have not yet invested, 53% are women. 

Another interesting fact is that there seems to be a high level of cryptocurrency literacy in Germany, as evidenced by the fact that 77% of cryptocurrencies that have not yet invested are actively looking for potential assets to invest in. In this last characteristic, Germany is probably an exception to most other countries. 

The post Germany: crypto mania is exploding appeared first on cryptodailynews24.com.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Donald Munn
Donald Munn
  • Website

Related Posts

The best PR films to inspire your crypto marketing strategy

January 2, 2023

Japan: tax breaks proposed for crypto investors

September 1, 2022

Bitcoin may have hit its low after Powell’s speech

September 1, 2022

Ripple’s plans to tokenize land in Colombia did not take off

September 1, 2022
Add A Comment

Comments are closed.

Advertisement
Top Posts

Subscribe to Updates

Get the latest sports news from SportsSite about soccer, football and tennis.

The latest news about Bitcoin, ICO, blockchain and fintech.

Top Insights

Exploring the Weird and Wonderful World of Cryptocurrency Websites

January 18, 2023

The best PR films to inspire your crypto marketing strategy

January 2, 2023

Cryptocurrencies and startups related to mental health are important topics in today’s world, which have become especially relevant in the era of the COVID-19 pandemic

December 26, 2022
Get Informed

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

  • Home
  • Blockchain
  • Crypto
  • Defi
  • NFT
  • Trading
  • World News
  • Contact
© 2023 cryptodailynews24.com Submit news release

Type above and press Enter to search. Press Esc to cancel.