By Alicia Maher
Popular crypto exchange, Kucoin, recently published the report from a new survey of Germans titled “Into the crypto-verse 2022.” The primary aim of the survey was to gain insights into Germans’ perspectives about digital asset adoption and its decentralization idea. It would be recalled that Germany was the first nation to regard BTC as a ‘store of value’ and they can be categorized as a “financial tool.”
An Analysis Of Kucoin’s Survey
As of this writing, German authorities are considering various proposals regarding the decentralization of the crypto industry. However, Germans aged 18-60 years would be hopeful of a favorable outcome from the authorities’ discussion of crypto policies. This age group represents 17% of the Germans with crypto investment, according to the Kucoin report. By investment, this percentage held or traded digital assets actively in the last six months.
The survey further revealed that 42% of those in this age bracket (as stated above) indicated that they would have increased their digital asset holdings by nearly 30% by September. However, another 14% of this age group strongly desire to know more about cryptocurrencies, with 24% of these curious ones planning to own a few digital assets before the year ends. Strangely, the others are hesitant about owning or trading cryptocurrencies.
Germany’s Crypto Space
The Kucoin report further revealed that 16.5% of German crypto investors have traded for more than 24 months. However, 5% of this 16.5% have nearly 6-year crypto trading experience while 44% of them have only less than six months’ trading experience. Also, 19% have 12-months trading experience while 38% have been trading for up to 18 months.
The 50% decline in those with more than one year of trading experience and less than one year of trading experience might stem from the fact that German authorities imposed a new crypto tax policy last year. Analysis of these crypto investors based on gender shows that 68% are males. However, the number of crypto-curios females is slightly higher at 54% than their male counterparts.
A Common Theme
What is common with this survey is a rising interest in crypto among German residents. More Germans will continue to show interest and get on board with crypto investing so long there is a realistic chance of earning decent ROI on their investment. For instance, the report discovered that the largest percentage of Germans surveyed (45%) are interested in crypto investment because they consider it the “future of finance” and won’t want to miss out.
The survey also revealed that 36% invest to generate passive earnings, 31% invest because they consider it a reliable means of avoiding inflation, while 28% plan to invest and gain financial freedom through crypto investment. Kucoin further discovered that most German crypto investors stake nearly 25% of their holdings to earn steady paychecks.
It is an open secret that staking into crypto yields offers greater earnings than money saved in traditional banks. Hence, it is no wonder that 55% of these crypto investors anticipate a 9% ROI from their staked amount.