Germans show interest in cryptocurrency

According to a survey by Postbank, 29% of Germans are strongly attracted by crypto-currencies, which offer them significant investment advantages. A poll released on May 29 highlighted the public's view of the virtual currency industry in Germany.

Young people show interest in investing in crypto-currencies

A total of 3,100 people were interviewed in March 2018. This survey revealed that 29% of the German population is interested in crypto-currencies as an investment.

Statistics show an encouraging momentum for the growing market of digital currencies in the country.

Postbank commented on the results of the survey, affirming the pronounced attention of young Germans for this flourishing sector.

The European economy is promising with 46% of young people aged 18 to 34 ready to invest.

It has also shown an interesting fact, and especially the gap between the two sexes, regarding investment in cryptocurrencies is glaring.

60% of women and 51% of men who have shown an interest in cryptocurrencies are won over by the financial independence offered by the market. On the other hand, the profitability of these digital assets is the main reason for investment: 56% for men and 36% for women. They are motivated by the hope of a high return in the future. However, it will always take into account their anonymity.

Increasing popularity despite downward price trends

Dr. Thomas Mangel, director of the digital department of Postbank, recently claimed that no significant impact on the German population was detected during downtrends in the cryptocurrency market. This news could be encouraging for the crypto-community, but Dr. Mangel sees it as a convincing naivety:

It should be noted that Germans are still interested in crypto-currencies as an investment, despite high losses and obvious risks. People are in real danger of losing money just because they are following a hype. Despite all this fascination, young investors must not lose sight of the offers made by the banking system. Anyone who already invests in securities as an investment should certainly not invest in digital assets because of the high risk involved. This type of investment is highly speculative.

Many banks have warned against investing in cryptocurrencies in recent months. Their extremely volatile nature presents risks that are far too high. Yves Mersch, a member of the Executive Board of the European Central Bank, considers cryptocurrencies a threat to financial stability.

It is strictly necessary to resort to banking supervision, he announced.

Their volatility was also raised by Markus Mueller, the head of wealth management at Deutsche Bank. What do you think of the growing interest of young Germans in investing in cryptocurrencies? Comment in the comments section below.