The Postbank Digital Study had determined that 20% of Germans believe that they have good knowledge of cryptocurrencies. 1/3 of Germans were also found to have been interested in cryptocurrency investments.
The study was conducted between February and March of this year with 3,100 respondents.
What Do Germans Like About Crypto?
Well, the study revealed that Germans—particularly German women—liked the independence of crypto from regulation. German men, on the other hand, were more interested than women on the possibility of high returns. The study also revealed that the respondents like the anonymity that comes with cryptocurrencies.
46 percent of Germans under the 18-34 age group are interested in cryptocurrencies as investments.
While the study revealed that 1 in 5 Germans believe they have good knowledge and understanding of the tech, Postbank’s Chief Digital Officer, Dr. Thomas Mangel, explains that they may be overestimating:
“Due to media hypes, many people overestimate their knowledge of the opportunities and risks of cryptocurrencies as an investment.”
Commenting further on this, Mangel warned:
“It is noteworthy that Germans are still interested in cryptocurrencies as a financial investment despite high losses and obvious risks. There is certainly a real risk that people will lose money just because they follow a hype.”