Cryptocurrencies Are Good Investment, Germans Say In Survey

Cryptocurrencies Are Good Investment, Germans Say In Survey

October 20, 2018

In Germany, half of young people aged 18 to 24 say they are interested in digital assets.

Overall, one in three Germans believe that cryptocurrencies are a good investment opportunity, according to a survey published by local financial institution Postbank at the end of May. It should be noted that the research, which was conducted from February to March of this year, was done in a period of sharp depreciation for digital currencies.

The survey interviewed 3,100 Germans. The bank highlighted the vision of the youngest, with half are interested in investing in crypto and 14% intending to buy or mine cryptocurrencies in the next year. The 18-24 age group represents 8% of the total population of Germany.

The Bank’s Digital Director, Thomas Mangel, discouraged support for cryptocurrencies and said that young people should not concentrate their investments in them, since this type of investment is “highly speculative”.

The gender variable also showed certain differences. While 60 percent of women believed the “independence of established financial systems” important, only 51 percent of men agreed. However, 56 percent of men rated the high rates of return on investment in crypto as attractive compared to 36 percent of women. Anonymity concerns men more than women: only 26% of them indicated that they are in favor against 39% of men.

One in five Germans surveyed feels “excited” to become part of the group of investors in cryptocurrencies

Mangel blamed the media for ignoring the risks of buying digital currencies. However, 20% of the Germans surveyed clarified that they obtain all the necessary information for the investment in crypto of social networks. 29% of young people are considered “expert” in active crypto.

Deutsche Postbank AG, or Postbank AG, is a German bank founded in 1990 after the privatization of the state monopoly Deutsche Bundespost. It is the 13th-largest bank in Germany and is headquartered in the city of Bonn.

This story was originally published in Spanish at Cripto247.com

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