According to a report by Kucoin’s president, Germany holds the peak lead in bitcoin. While 37% have already invested in crypto, 44% of Germans have publicly shown interest in investing in cryptocurrency.
In his report, Jonney Lyu, CEO of Kucoin, said, “Cryptocurrency is very popular among the supporters of the accumulated strategy, especially among the younger generation.” They prefer to save for retirement on their own and diversify their savings through cryptocurrency.
Despite being the richest and first country to recognize bitcoin as a medium of exchange, Jonney said, “the country does not yet have specific regulations that unequivocally regulate the use of digital money.”
It didn’t stop with being the first country to trade blockchain strategy. Florian Dohnert-Breyer, Managing Director of F5 Crypto, said, “Germany is a role model for other EU countries, whose populations are generally more open to long-term investment.”
Women are not left out as they have emerged to invest in crypto in more significant numbers. While 69% of investors are men, women make up 53% of investors, hinting that they have the future of finance at heart, not just for Germany but all crypto users. On the other hand, age is not a limitation as the younger investors are eagerly focusing on investment already.
However, the future is uncertain regarding the crypto regulations, especially as Bafin, the German federal supervisory authority, has no word concerning the risk. And so Neobank’s plan to launch trading in crypto in 2022. The return on trading cryptocurrency is currently higher than the return on bank savings.
Finally, Breyer believes that Germans, who do not have the same playfield level as Swiss citizens, will invest more in crypto and create a favorable environment for crypto users.