28% Of Germans Under 30 To Become Crypto Investors — Survey
More than a quarter of Germans who are under 30 expressed their willingness to buy cryptocurrency, a new study reports. At the same time, only half of the respondents were aware of digital currencies.
The joint study was conducted by the local consumer centers of the German States — Hesse and Saxony. These are the non-profit state organizations that protect and advise consumers. The survey involved 1000 Germany residents.
As the researchers found out, only 55% of people between the ages of 18 and 39 knew about cryptocurrency. But just one in three could further explain the basic terms used by traders and the community. Among those who were familiar with the crypto sphere, 11% were eager to buy tokens, as many were undecided, and 77% said they were not going to invest in digital assets.
The sociologists also studied how different age groups evaluate the risks of crypto trading. In general, 70% of Germans consider cryptocurrency as a risky or very risky asset class. 54% of respondents aged from 30 to 39 said token trading is a dangerous affair, while 28% of participants at the age group from 18 to 29 considered acquiring cryptocurrency conceivable.
The authors of the study warn about the risks of crypto investments, the lack of regulation and investor protection, calling the industry the gray currency market.
The previous report revealed that most ICOs from Germany failed. The assets of these projects lost in price much more than liquid cryptocurrencies, like bitcoin and ether.