Younger Germans prefer to invest in crypto
According to the report published by the German Consumer Centers of Hesse and Saxony, younger Germans are more inclined to invest in cryptocurrencies. The poll was conducted through a joint survey among Internet users, ages of 18 to 39.
The majority of the poll participants – over 55 percent – responded that they’re aware of cryptocurrencies and crypto trading. When asked about their perception of it, 70 percent of participants indicated they thought of cryptocurrency as being “risky” or “very risky.”
According to the poll report, there’s a strong correlation between the age and perception of crypto trading. For instance, 54 percent of respondents between ages 30 and 39 consider crypto investments dangerous, while 28 percent of respondents from 18 to 29 years old found cryptocurrencies to be “conceivable.”
The perception of younger Germans is highly influenced by the state government policy. Germany didn’t take proactive regulatory measures unlike its neighboring countries, proving yet again its status as one of the most conservative European countries. The skeptic stance the government has was shared with German Finance Minister Olaf Scholz, who stated that he doubts cryptocurrencies will replace traditional money.
Interestingly enough, similar reports conducted in the U.S. have shown pretty much the same results in terms of the relationships respondents had to crypto. According to the poll conducted by one of the leading U.S. PR firms, Edelman, crypto investment is most popular with millennial men earning $75,000-$99,000 annually.