KuCoin: 44% of Germans invest in cryptocurrencies

According to a report from Hong Kong cryptocurrency exchange KuCoin, 44% of Germans are motivated to invest in cryptocurrencies to be part of the “future of finance.”

According to the report, Germans are much faster to accept cryptocurrencies and are open to long-term investment – ​​44% of respondents are ready to invest in digital assets. At the same time, 37% of German residents have been actively trading cryptocurrencies for more than a year.

According to KuCoin CEO Johnny Lyu, cryptocurrencies are very popular among savings enthusiasts, especially among the younger generation who prefer to save for retirement on their own and diversify their savings through the use of digital currencies. However, Liu warned that it might not be safe to invest in digital currencies in Germany due to the country’s lack of specific regulations governing the industry.

However, Germany was the first country in the world to recognize a blockchain regulatory strategy that bans the issuance of parallel corporate digital currencies. German Finance Minister Olaf Scholz then said that the main element of state sovereignty is the issuance of currency, so allowing private companies to issue their own currencies means the loss of this sovereignty.

F5 Crypto Managing Director Florian Döhnert-Breyer said that Germany has become a role model for other EU countries, as the population of this country is more open to long-term investments. In his opinion, Germany will play a special role in the development of the cryptocurrency industry in the future.

Last November, the new German government signed a coalition agreement aimed at creating a legislative framework for regulating the cryptocurrency business.