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Young Germans interested in investing in cryptocurrencies

Wednesday 6 June 2018 14:47 CET | News

The Postbank Digital Study has showed that 46% of Germany-based millenials are interested in investing in cryptocurrency.

The sample consisted of 3,100 people who were asked questions regarding cryptocurrency. More women feel that securing cryptocurrency independence from regulation is a serious matter (60 and 51% respectively). At the same time, more men are looking forward to the prospect of high returns when investing (56 versus 36%).

One-third of those who said that they take interest in cryptocurrencies indicated that they believe that its anonymity is a positive characteristic. Besides, one in five Germans believes s/he possesses good expertise in cryptocurrency. Among the young people, the figure is 29%.

Currently, the German government is overall positively tended towards cryptocurrencies, albeit expressing certain concerns. Hence, in February, The Federal Ministry of Finances promised not to tax small purchases made with cryptocurrency saying that Germany will not tax those who use Bitcoin to buy things.

Dr. Thomas Mangel, Chief Digital Officer of Postbank, however, treated the results with caution saying that due to the media hypes, many people overestimate their knowledge of the opportunities and risks of cryptocurrencies as an investment. He added that despite all the fascination, young investors should not lose sight of offers from the established banking system.


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Keywords: Germany, cryptocurrencies, Postbank, report, survey
Categories:
Countries: World