Germany, European example for cryptocurrencies
For Florian Döhnert-BreyerF5 General Manager Cryptoa company specializing in cryptocurrencies and registered locally:
“Germany is a model for other countries in the European Union, whose populations are generally more open to long-term investment.” Furthermore, “as the largest country in the European Union with a notoriously risk-averse view of financial assets, Germany has a special role to play. “.
An annual report of the famous cryptocurrency platform KuCoin just demonstrated again this role of model » What does Germany hold in terms of cryptocurrencies?. The report named “Into The Cryptoverse 2022” points out that Germany was the first European country to recognize that bitcoin is a “unit of value” and could be classified as a “financial instrument”.
And the figures confirm this pioneering trend in cryptocurrencies: according to the results of the KuCoin study, 44% of Germans say they are “motivated” to invest in cryptocurrencies, and 37% say they have already done so. Figures far from the 8% of French people who said they had already invested in cryptocurrencies in a February 2022 report by the audit firm KPMG, produced in collaboration with Cryptoast.
The KuCoin report also states that in Germany, 69% of cryptocurrency investors are menmore … than 53% of women surveyed are ready to take an interest in it.
👉 To find out more – 8% of French people have already acquired cryptocurrencies – Summary of the Adan / KPMG France study
A different risk aversion?
While waiting for the major decisions taken by governments, retail investors want to diversify their assets and protect their savings. And when we talk to them about inflation, gold, and the financial crisis, they immediately think of cryptocurrencies.
Investors from the younger generation are examples, since many of them have taken the plunge into investing in cryptocurrencies. What is not a huge surprise in the end, Germany has a very dynamic stock market with local and foreign investors, financial education being very different from France.
Kucoin CEO Johnny Lyu confirmed these claims in the report:
“Cryptocurrencies are very popular among the proponents of the accumulation strategy, especially among the younger generation. They prefer to save for retirement on their own and diversify their savings through the use of these.”
On the other hand, he recalls that despite the high demand for cryptocurrencies among Germans, the country does not yet have specific regulations that unequivocally regulate the use of digital currency “. This is the whole problem at present that arises at the level of the European Union where the desire to regulate cryptocurrencies is no longer a taboo.
Recently, the plan to ban all cryptocurrencies running on the Proof of Work (PoW) system was rejected. Regulating cryptocurrencies also means allowing their democratization for all.
👉 On the same topic – Nearly a third of institutional investors would be willing to invest in cryptocurrencies
Source: Kucoin Blog