A new report by KuCoin has indicated that nearly half of Germans are motivated to invest in cryptocurrencies.
Leading cryptocurrency exchange KuCoin has published it's Into The Cryptoverse 2022 Germany Report. The report revealed some interesting data about the growth of cryptocurrencies in Germany.
According to the report, 44% of Germans are interested in investing in cryptocurrencies. Their primary motivation stems from the desire to be a part of the future of Finance.
The report added that 16% of the German population aged between 18 to 60 are crypto investors who own cryptocurrencies or have traded cryptocurrencies in the past six months.
Furthermore, 41% of the aforementioned crypto investors intend to increase the share of their investments in cryptocurrencies during the second half of the year. Another 13% of Germans are crypto-curious and intend to invest in cryptocurrencies in the coming six months. However, only 23% of the crypto-curious stated that they are highly likely to invest in cryptocurrencies, with the rest remaining hesitant, KuCoin added.
The pandemic contributed to the rapid adoption of cryptocurrencies, and this was shown by the report. 17% of crypto investors in Germany have over two years of experience trading cryptocurrencies.
However, the rising inflation in various parts of the world continues to prompt people to enter the cryptocurrency space. . 45% of investors started trading cryptocurrencies within the past six months, while another 18% started trading within the past year.
The cryptocurrency space has launched various initiatives to attract more women to the male-dominated market. In Germany, 69% of crypto investors are men, while women account for 53% of the crypto-curious.
The decentralised finance (DeFi) ecosystem is one of the fastest-growing areas in the cryptocurrency space. They offer alternative financial services to investors, which has attracted many people to the industry.
In Germany, investors want to allocate an average of 24% of their trading volumes to staking for earning stable income with yields higher than those offered by bank savings accounts.
Finally, 31% of crypto-curious investors plan to start their journey in the industry from crypto lending. The data indicates an increasing interest in DeFi services in Germany.