- KuCoin’s Into the Cryptoverse 2022 report shows that nearly half of the German population sees crypto as part of “the future of finance.”
- 35% of investors do this for passive income.
- In 2022, 53% of women expressed interest in the subject.
A report from the global crypto exchange KuCoin suggests that 44% of Germans are “motivated” toward cryptocurrencies as an investment.
This percentage of the population also believes cryptocurrency is the “future of finance”, the exchange noted in its ‘Into The Cryptoverse 2022’ report.
16% of Germans between 18 and 60 own or trade cryptocurrency
The insights gleaned from the study are reflective of Germany’s “set of clear rules applicable to cryptocurrencies,” a summary of the report indicated.
Notably, Germany was the first country to recognise Bitcoin as a “unit of value,” classifiable as a “financial instrument.” That happened in 2013 and is a development that appears to have had a big impact on adoption rates in the country.
44% of the respondents stated that they want to buy and invest crypto as a result regulatory changes. According to the report, nearly half of respondents believe crypto will be the future in finance.
Germans aged 18-60 have 16% ownership of cryptocurrencies or traded them in the past six month. 41% plan to increase their investment in 2022. Another 13% are crypto-curious.
69% of crypto-curious investors are men, and 53% are women.
Overall, 77% of these ‘crypto-curious’ investors are reportedly looking into potential digital assets to buy. KuCoin reports that this statistic points to the country’s high level of crypto literacy.
Lending and staking are top investment products
According to the report, the rising popularity of crypto investments in Germany can be attributed to digital assets’ growing appeal as passive income. The country is now seeing crypto investing become mainstream due to its ability to make returns on investments.
According to the study, 35% take positions in passive income opportunities. 30% of crypto investors view crypto assets as a reliable store value and 29% see them as a means to financial independence.
On average, 24% of passive income investors prefer to hold bank savings accounts over crypto. Next is crypto lending at 13%
The report on Germany is the second in KuCoin’s Into The Cryptoverse 2022 lineup, coming after Turkey. The exchange will release additional reports throughout 2022.
The global trends in crypto ownership and use for 2021 revealed that Nigeria was the most popular country, followed by Singapore, Thailand, and the Phillipines. The fastest growing regions are Asia, Africa and South America.