KuCoin Survey: Half Of Germans Are Interested In Crypto Investment

Crypto enthusiasts in Germany are experiencing significant growth. (Photo; Kanchanara - Unsplash)

JAKARTA – The KuCoin crypto exchange issued a survey report titled “Into the Cryptoverse 2022.” From the survey, it is known that half of the German population is motivated to invest in cryptocurrencies.

According to CryptoPotato, 44 percent of Germans are motivated to “invest in cryptocurrencies to be part of the future of finance.” 35 percent of them will do it for passive income, and 30 percent consider crypto to be a strong store of value. Some also hope to achieve financial independence.

On another note, about 16 percent of the country's population between the ages of 18 and 60 have invested in crypto or have traded in the past six months.

Of those who have expressed interest in cryptocurrencies, 77 percent are researching in hopes of finding a potential asset to invest in. 31 percent of the same group plan to start lending cryptocurrencies.

In addition, German women interested in crypto investments experienced a growth of 53 percent. The survey data also shows that male investors are 69 percent. Even though it is dominated by men, this shows that women are increasingly interested in digital assets.

KuCoin CEO Johnny Lyu explained that the report highlights the growing demand for crypto assets among German citizens. Lyu further stated that this was despite the government which had not yet established a regulatory framework for the crypto sector.

“Cryptocurrencies are very popular among proponents of accumulation strategies, especially among the younger generation. They prefer to save for their own retirement and diversify their savings through the use of cryptocurrencies.”

Although there is no clear regulation from the government, Germany was the first country to recognize Bitcoin as a financial instrument. But the government is said to have only "successfully regulated crypto".

The high interest in crypto in Germany has made Swiss FinTech Leonteq expand the reach of crypto services in the country. In addition to Germany, the company has also ventured into Austria after partnering with ICF BANK AG to offer digital assets to its clients.