2022-3-30 07:21 |
Cryptocurrency exchange KuCoin (KCS/USD) has released this year’s German edition of its Into The Cryptoverse report, exploring crypto adoption rates in the European country and its population’s involvement in the decentralized industry.
16% of Germans own cryptocurrencies or have traded them in the past six months, while over two-fifths of this 16% plan to make more significant investments in cryptocurrencies in the coming six months. Invezz shares the most important findings from the report.
Less than a quarter of the ‘curious’ to actually investJust 23% of those labeling themselves as crypto-curious said they were “highly likely” to invest in cryptocurrencies. Almost half of all crypto investors in Germany (45%) began trading cryptocurrencies in the past six months for the first time. The first crypto trade of another 18% took place within the past year.
Over two-thirds of German crypto investors have been trading for over a year. This finding probably results from the income tax levied on those holding cryptocurrencies for less than a year. Predictably, men dominate the investment landscape with 69%. However, women form the majority of the crypto curious.
Growing appeal of crypto as passive income sourceCrypto’s increasing appeal as a source of passive income suggests digital assets have gone mainstream. According to the report, 44% of Germans are motivated to invest in cryptocurrencies. 35% invest to obtain passive income, and 30% consider cryptocurrencies a reliable store of value.
Nearly 30% want to become financially independentGerman crypto investors allot 24% of their trading volumes on average to staking crypto to generate stable income with higher yields than those of savings accounts in banks. Half of them do not expect returns of over 10% or losses of more than 5%.
Crypto lending is the second most popular productLending is the second most popular type of crypto product, accounting for just under 15% of the trading volume. Almost a third of crypto-curious investors want to get started in the space with crypto lending. Nearly 80% of them are doing research into potentially lucrative assets to invest in.
The post Almost 50% of Germans motivated to invest in crypto appeared first on Invezz.
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