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29% Of Germans Considers Cryptocurrency a Good Investment

A recent survey that was conducted by a German retail bank, Postbank indicates that 29% of citizens of different age groups in Germany trust that cryptocurrencies are an alluring venture opportunity. The report also shows that Bitcoin (BTC), Ethereum (ETH),Ripple (XRP) and Bitcoin Cash (BCH) were among the favorites and most used by cryptocurrency investors in the country. Germany is one of the strongholds of cryptocurrency in Europe and where bitcoin and other cryptocurrencies are accepted and frequently used by individuals and firms as a medium of exchange. Last year, the German Ministry of Finance declared bitcoin a “unit of account” thereby allowing digital currencies to be used as legal currency for tax, exchange and trading purposes. The popularity of bitcoins in the country have kept growing after this development,
Lately, the digital money markets have been tormented with instability yet this has not influenced the German citizens that were interviewed. The survey interview held between February and March 2018, and according to the survey, a total of 3,100 people were interviewed from different age group. Individuals between the age 18 and 34 accounted for 46% of the total 3,100 citizens reviewed, and they were most intrigued by the crypto business.  14% of this age group said that they aim to invest in cryptocurrencies by purchasing or mining them in the following 12 months. However, these conceivable youthful investors were informed about the high unpredictability of cryptographic forms of money. They were encouraged to likewise think about the conventional banking and contributing systems.
Apart from age groups, the survey was also centered on sexual orientation and found out that the higher returns of investment in cryptocurrency pulled in 56% of the men studied contrasted with just 36% of the ladies in the same age group. Regarding the obscurity offered by digital currencies, 39% of men were supportive of the idea contrasted with 26% of the ladies reviewed.Undoubtedly, the sample set in this survey can give some insight into what course cryptocurrency speculation is heading, even though the reactions of 3,100 people can’t portray the perspectives of a whole nation. One clear giveaway is that the youthful grown-ups between the age range of 18 to 34 are the well on the way to grasp innovations and developments
A similar survey by the German Federal Association of Information Technology, Telecommunications and New media (Bitkom) was earlier published in February, and it was discovered that every two out of three German citizens were aware of Bitcoins (BTC). This survey also showed that a whopping 72% of Germans had no interest in investing in bitcoins (BTC). Most of this 72 % did not invest because they felt it was risky due to the high volatility in its price, others did not invest merely because they lacked knowledge of bitcoin practical use. Comparing the outcomes of both surveys, it is evident that the more Germans have realized that cryptocurrency is a good investment and they also willing to put their money in it.  These two reviews also demonstrate that the more youthful, technology inclined people are most likely to invest and exchange cryptocurrencies when compared to the older generation as they are reluctant to invest.

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