BERLIN – The growing popularity of cryptocurrencies in different parts of the world has encouraged Germans to flock to digital currencies as investment tips for the future.
Although the German government does not set specific rules, this does not prevent investors from using this digital currency.
According to data from the cryptocurrency exchange KuCoin as reported by Cointelegraph, the number of cryptocurrency investors in Germany has reached more than 44 percent. In fact, this number is expected to continue to increase each year.
The passion of the German people towards the use of cryptocurrencies has made the country dominate the cryptocurrency market in the European plains. Even Germany itself is claimed to be the first European country to successfully use a blockchain strategy.
In general, investors from Germany are dominated by millennials, said KuCoin CEO Liu. Their awareness of future savings makes German millennials want to set aside their income to put it in the form of a cryptocurrency.
A large number of Germans are interested in investing in cryptocurrencies, male investors control the majority of them with 69 percent. Meanwhile, women investors accounted for 53 per cent.
“The number of women interested in cryptocurrencies is encouraging because this target group is, on average, less active in financial markets (such as the stock market),” Liu added.
To support the growth rate of cryptocurrency investment in the region, the German government will work with the federal financial watchdog, BaFin, to launch special laws aimed at ensuring the safety of domestic and international cryptocurrency investors.
The government also added to the presence of the German Millennium Initiative to invest in the future, and successfully assisted the central government in achieving an independent state focused on equities. In this way, the country can also avoid the risk of inflation.