A Survey Indicates 3 Out Of 10 Germans Are Considering Crypto Investing

Twenty-nine percent of Germans are occupied with cryptocurrencies as a type of investments, Cointelegraph auf Deutsch reported Tuesday, May 29. German bank Postbank reached this conclusion after a review of 3,100 Germans, which was led from the ending of February to the ending of March 2018.


At the point when asked about for what good reason are they keen on crypto, 60 percent of ladies and 51 percent of men referred to it as “independence from established financial systems” as an essential factor. The likelihood of it being profitable, then again, particularly draws in men: 56 percent against 36 percent of ladies. For each third potential cryptocurrency investor, anonymity is also critical.


Regarding age, cryptocurrencies are especially well known among 18-34-year-olds. In this age group almost every second – 46 percent – are occupied with crypto investing. Six percent of Germans between the ages of 18 and 34 have just invested, with another 14 percent intending to do in the following year.


Dr. Thomas Mangel, Head of Postbank’s Digital Department, has said in an official statement that the sharp price decreases in recent months had obviously not affected the fame of cryptocurrencies. He trusts that the purpose behind this is an absence of learning about circumstances and dangers of cryptocurrencies as an investment. Dr. Thomas Mangel cautions:


“Despite all the fascination, young investors should not lose sight of offers from the established banking system. Anyone who already makes an investment in securities as an investment should certainly not invest in cryptocurrencies because of the high risks involved. Because this type of investment is highly speculative.”


Numerous bankers have over and over cautioned against price instability recently. For instance, ECB Board Member Yves Mersch sees digital currencies as a risk to financial stability and calls for strict saving banking supervision. Also, the wealth management of the Deutsche Bank Markus Mueller criticized the high instability of digital currencies.


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