A study by the KuCoin platform points out that 44% of Germans say they're motivated to invest in cryptocurrencies and that 37 are formerly investing in this asset class. While 30% of French people plan to acquire it, how to explain such an relinquishment of cryptocurrencies in Germany?
Germany, European illustration for cryptocurrencies
For Florian Döhnert-Breyer, Managing Director of F5 Crypto, a locally registered cryptocurrency company .
"Germany is a model for other countries in the European Union, whose populations are generally more open to long- term investment." Likewise, “ as the largest country in the European Union with a notoriously threat-antipathetic view of fiscal means, Germany has a special part to play”.
An periodic report from the notorious cryptocurrency platform KuCoin has just demonstrated this “ model” part that Germany holds in terms of cryptocurrencies. The report named “ Into The Cryptoverse 2022” points out that Germany was the first European country to fete that bitcoin is a “ unit of value” and could be classified as a “ fiscal instrument”.
And the numbers confirm this pioneering trend in cryptocurrencies according to the results of the KuCoin study, 44 of Germans say they're “ motivated” to invest in cryptocurrencies, and 37 say they've formerly done so. Numbers far from the 30 of French people who plan to acquire one, as indicated in a February 2022 report by the inspection establishment KPMG, produced in collaboration with Cryptoast.
KuCoin's report also states that in Germany, 69 of cryptocurrency investors are manly, but 53 of womanish repliers are willing to take an interest.
A different threat aversion?
While staying for the major opinions taken by governments, retail investors want to diversify their means and cover their savings. And when we talk to them about affectation, gold, and the fiscal extremity, they incontinently suppose of cryptocurrencies.
Investors from the youngish generation are exemplifications, since numerous of them have taken the plunge into investing in cryptocurrencies. What isn't a huge surprise in the end, Germany has a veritably dynamic stock request with original and foreign investors, fiscal education being veritably different from France.
Kucoin CEO Johnny Lyu verified these claims in the report
“ Cryptocurrencies are veritably popular among proponents of the accumulation strategy, especially among the youngish generation. They prefer to save for withdrawal 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 doesn't yet have specific regulations that unequivocally regulate the use of digital currency”. This is the whole problem at present that arises at the position of the European Union where the desire to regulate cryptocurrencies is no longer a taboo.
Lately, 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.