According to a recently published report by crypto exchange KuCoin, almost half of Germans are actively investing in digital assets. It is noteworthy that among the Germans, interest in cryptocurrencies did not decrease even after the virtual currency market showed a drop in prices for most coins three weeks earlier.
According to the results of the survey, about 44% of Germans are prone to actively invest in digital assets to become an integral part of the “financial ecosystem of the future”. In addition, according to the KuCoin report, more than a third of citizens (37%) are investors who have been buying cryptocurrencies for at least 1 year.
Johnny Liu, CEO of KuCoin, in an interview, noted that the growth of interest in cryptocurrencies from the Germans has been observed over the past few years, but there was still a need for research. So, Liu believes that for crypto companies to be able to adapt to new user requests in a timely and adequate manner, it is extremely important to know about the mood and opinion of German citizens regarding digital assets. This is how the CEO of the exchange explains the reason why he initiated such a large-scale study.
“Not only for the government but also for us trading platforms, it is very important to know about the attitude of the Germans towards digital assets. Recently, interest in them has grown incredibly, especially from the younger generation and supporters of long-term savings. Some Germans under the age of 25 have begun to save money in various virtual currencies, assuring the public of the ability to save for their own retirement. It is safe to say that the world will never be the same again,” added Liu.
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In addition, the CEO of KuCoin emphasized that despite the actively growing interest in cryptocurrencies, in Germany, unfortunately, there is still no full-fledged regulatory framework that could regulate the newly minted industry.
The lack of crypto legislation is very frustrating not only for Liu personally but also for his entire team, including experienced financial analysts and professional developers. So, in addition to the results of the survey, the report also mentions the history of many years ago, when the world just started to learn about bitcoin.
“When bitcoin appeared, Germany was one of the first countries to recognize it as a “unit of value”. sadly, such a promising “beginning” did not lead the government to create the necessary regulatory framework for digital assets,” summed up KuCoin analysts.