Cryptocurrency Adoption Increases in Germany

Cryptocurrency Exchange KuCoin has recently released the German version of its 'Into the Cryptoverse 2022 Report' and highlighted a sharp increase in cryptocurrency adoption. According to the report, 16% of the German population aged between 18 and 60 are crypto investors.

In addition, the insights reveal the recent boom in crypto investments among German citizens. 45% of digital asset investors in the country have started trading within the past 6 months. The trend indicates that the interest in digital assets is rising consistently.

KuCoin’s report shows that 44% of Germans are motivated to invest in the emerging asset class. 35% of the interested investors are planning to hold cryptocurrency assets for passive income. Nearly 30% consider digital assets as a reliable store of value.

“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,” the report highlighted.

Global Crypto Ecosystem

The popularity of cryptocurrencies is rising rapidly across the world. According to a report published by digital exchange Crypto.com, global cryptocurrency users crossed the mark of 300 million in 2021. The number is expected to touch 1 billion by the end of 2022. Despite the reason that investors in some countries prefer certain digital assets, the overall interest around the emerging asset class has jumped substantially.

In Germany, the use of digital assets for transactions is also surging despite an uncertain global regulatory environment. “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,” the report added.