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Germany cryptocurrency

New Survey Finds Young Germans Open To Crypto Investment

· 15 Nov 2018 in Cryptocurrency News
Basil has three years of freelance experience writing on disruptive technologies. He focuses on breaking news and education pieces; helping to spread the gospel of Blockchain. He hopes to have his own blockchain company one day; helping the world through its innovative ledger technology. https://twitter.com/basil_kimathi

On Monday, November 5th, the German Consumer Centers of Hesse and Saxony published findings of a recent poll which shows that more than a quarter of young Germans are open to buying cryptocurrencies.

The Consumer Centers are non-profit government-backed agencies that are organized at state level unions. Their primary goal is to offer consumer protection as well as to provide advisory services.

Younger Respondents Find Investing In Crypto More Conceivable

The poll was conducted by the centers of two German federal states that have populations of over ten million residents. According to Wirtschaftswoche, a local business media, the survey consisted of 1,000 German internet users who were aged between 18 and 39.

The findings were exciting. More than half of the respondents, 55 percent claimed to have heard of cryptocurrencies. However, 77 percent of those that had heard of crypto admitted they were not likely to invest in them.

When they were asked of their perception of the risk factor that is associated with virtual currencies, 70 percent of the respondents said that they found digital asset trading to be ‘very risky.’ However, the publication notes that there is a strong correlation between the estimation of risk and the age of the respondent.

54 percent of individuals aged between 30 and 39 considered crypto investment to be dangerous. Interestingly, 28 percent of those aged between 18 to 29 found purchasing crypto to be ‘conceivable.’

The survey also offers a warning about the risks that are involved with investing in virtual currencies. Wolf Brandes who is the finance markets team leader at the consumer Center of Hesse notes:

 “Investors need to know: cryptocurrencies in terms of investment are gray capital markets. There is no regulation or investor protection.”

Also, similar polls have been conducted in the U.S. lately with exciting revelations. Recently there was a survey conducted by YouGov Omnibus, a research service. The study found out that American millennials are very interested in crypto with 36 percent preferring to use virtual currencies other than the dollar.

 

Basil has three years of freelance experience writing on disruptive technologies. He focuses on breaking news and education pieces; helping to spread the gospel of Blockchain. He hopes to have his own blockchain company one day; helping the world through its innovative ledger technology.

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