VICTORIA, Seychelles–(BUSINESS WIRE)–#crypto—Cryptocurrency exchange KuCoin has released the Into The Cryptoverse 2022 report Germany edition, exploring cryptocurrency adoption rates in Germany and the involvement of the local population in the decentralized industry.
The statistics compiled in the Into The Cryptoverse 2022 report give crucial insights into the effects the adoption of a set of clear rules applicable to cryptocurrencies in 2013 had on adoption rates in Germany. The country was the first to recognize that Bitcoins are “units of value” and could be classified as a “financial instrument”.
The ongoing development of legal regulation for the decentralized industry in Germany has resulted in the fact that 16% of the German population aged between 18 to 60 are crypto investors who own cryptocurrencies or have traded cryptocurrencies in the past six months, as stated in the report. Statistics also reveal that 41% of the aforementioned crypto investors intend to increase the share of their investments in cryptocurrencies over the coming six months. Another 13% of Germans are crypto-curious and intend to invest in cryptocurrencies in the coming six months. However, only 23% of the crypto-curious stated that they are highly likely to invest in cryptocurrencies, with the rest remaining hesitant.
Other insights revealed by the study show that 17% of crypto investors in Germany have over two years of experience trading cryptocurrencies, among which 4% have been doing so for over six years. 45% of investors started trading cryptocurrencies within the past 6 months, while another 18% started trading within the past year. 37% of German crypto investors have been trading cryptocurrencies for over a year, a figure possibly resulting from the income tax imposed on those who hold cryptocurrencies for less than a year. Gender ratios among investors show that 69% of crypto investors are men, while women account for 53% of the crypto-curious.
The growing appeal of cryptocurrencies as a means of passive income is showing that digital assets and the possibility of generating returns on investments in them have gone mainstream. The report shows that 44% of Germans are motivated to invest in cryptocurrencies to be a part of “the future of finance”, 35% do it for the passive income opportunities, while 30% consider cryptocurrencies as a reliable means of value storage. The remaining 29% hope to become financially independent with the help of cryptocurrencies.
The mainstream nature of cryptocurrencies as a means of passive income generation among German crypto investors is highlighted by the figures, which show that they allocate an average 24% of their trading volumes to staking for earning stable income with yields higher than those offered by bank savings accounts. At the same time, half of crypto-curious investors expect no more than 10% return and 5% loss on their crypto investments. Crypto lending is the second most popular type of crypto product, taking up 13% of investors’ trading volume, while 31% of crypto-curious investors plan to start their journey in the industry from crypto lending. The high level of cryptocurrency literacy in Germany is showcased by the fact that 77% of crypto-curious investors are researching potential assets to invest in.
The KuCoin Into The Cryptoverse 2022 report provides invaluable insight into the development of the German cryptocurrency investor community and reveals that passive income opportunities are becoming a major attraction for industry newcomers. This is the second country report released by KuCoin after the Turkey report, with The KuCoin Into The Cryptoverse 2022 report to be released continuously through 2022. Please visit the KuCoin blog for the full report.
Launched in September 2017, KuCoin is a global cryptocurrency exchange for over 600 digital assets. It currently provides Spot trading, Margin trading, P2P fiat trading, Futures trading, Staking, and Lending to its 10 million users in 207 countries and regions around the world. In 2018, KuCoin secured $20 million in Round A funding from IDG Capital and Matrix Partners. According to CoinMarketCap, KuCoin is currently one of the top 5 crypto exchanges. Also, Forbes named KuCoin as one of the Best Crypto Exchanges for 2021. In 2022, The Ascent named KuCoin the Best Crypto Exchanges and Apps for enthusiasts.
To find out more, visit https://www.kucoin.com.
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