According to a survey that was carried out in Germany by a retail outlet known as Postbank, one out of every three people in Germany are of the opinion that cryptocurrency offers some of the best investment opportunities that are available in the country. This survey was carried out between February and March in 2018 and is believed to give a lot of insights into the belief of the German people in the efficacy of cryptocurrency even when most governments as well as world authorities are still very strongly opposed to the use of digital currencies. It is not stated in the survey if any digital currency in particular was chosen over others as an investment opportunity. However, one thing remains obvious: a significant number of Germans are cryptocurrency supporters.
Cryptocurrency is Supported More by Germany’s Younger Population
After the survey in Germany by Postbank, it is now generally believed that the German population is in support of cryptocurrency. Although this is quite true, it is not a perfect representation of the situation on ground. The reason for this is quite straight forward. This survey was carried out between two different age groups in Germany. One group is aged 18-34 while the other group that was involved in the survey is a little older. Although the people that were interviewed from the group of people aged 18-34 made up only 46% of the total number of individuals that were surveyed, results proved that more young people were interested in cryptocurrency.
Going by the results of the survey, the German population might not necessarily be interested in cryptocurrency. The group of people in Germany that is actually interested in cryptocurrency are the young people. Now, of these young Germans that are interested in cryptocurrency, 14% of them have already showed interest in buying as well as mining cryptocurrency in the coming year.
Cryptocurrency might not actually be the Best investment opportunity in Germany
According to Postbank’s Chief Digital Officer, Dr Thomas Mangel, investments that have anything to do with cryptocurrencies pose a lot of uncertainty and are therefore not worth investing in for young adults. He also went on to say that the German media has given digital currencies more hype that they deserve, ultimately leading to an excessive belief in cryptocurrency irrespective of associated risks.
This survey about the interest of Germans in cryptocurrency was carried out at a time when Bitcoin and other cryptocurrencies are going through a negative phase. Regardless of this, a lot of Germans still see it as a perfect investment opportunity. This simply implies that when cryptocurrencies recover from the free-fall that they are currently experiencing, the percentage of young Germans that are willing to put all their investments in cryptocurrency will most likely increase.