Young Germans Ready For Crypto


I am writing to you as I believe you may be interested in receiving some commentary from a diverse range of leading blockchain CEOs regarding the recent study by the German Consumer Centers of Hesse and Saxony. This study concluded than a quarter of younger Germans are ready to buy cryptocurrencies. The study also concluded:


  • There is a strong correlation between the estimation of risk and the age of respondent

  • 70% of participants said they find crypto trading ‘risky’ or ‘very risky’

  • 54% of respondents aged 30 to 39 consider cryptocurrency investments dangerous

  • 28% of respondents from 18 to 29 found purchasing cryptocurrencies to be ‘conceivable’


Wachsman works with leading German clients within the blockchain and cryptocurrency space, including DSTOQ, INVAO, and Lisk.


I have included commentary below from our clients providing useful insights on the findings of the report, and what it means for the broader blockchain and crypto landscape.


Should you be interested in speaking in greater detail with either of those included, please don’t hesitate to contact me and I would be happy to schedule an interview.


Craig Mc Gregor, Co-founder and CEO of DSTOQ, an exchange without borders allowing for peer-to-peer trading of tokenized securities, said:


“This shift in Germany towards an increased interest in crypto among younger people is indicative of wider trends we are seeing globally.  While we have seen huge growth in the sector, the next wave of investment and enthusiasm will be harder won.  In this, I believe, decentralized exchanges have an important role to play as younger people, in particular, value transparency.  By removing the need for a third party and intermediaries, such as banks or centralized exchanges, investors have complete control over their transactions. The result is increased security and control – which for first time for investors is of utmost importance. The survey released this week shows figures indicating that 70% of participants find crypto trading ‘risky’ or ‘very risky,’ but it doesn’t necessarily need to be this way. The solution, which is available for all to use right now is the decentralized exchange.”


Frank Wagner, Co-founder and CEO of INVAO, the Blockchain Asset Pool for investors, said:


“We see these results showing that a majority of Germans have reservations around investing in crypto as an opportunity for those projects that are regulatory compliant and are similarly attractive to real world investors. Only when we have sustainable projects offering real investment opportunities in asset pools and other digital assets will be see a tangible surge in interest. Regulation is intrinsic to this process, shaping the landscape in which we operate. Companies must be agile and dynamic in adapting to changing regulation and in the face of consumer demand. Taking Germany as an example, we must ensure that fewer people feel it is a risk to participate in this sector. Elements such as transparency, openness, real rewards and security are all essential to successfully attracting investors. These survey results show that we have a long distance to travel, but they also show the huge opportunity there is!”


Thomas Schouten, Head of Marketing at Lisk, the blockchain applications platform which allows users to code and build in JavaScript said:


“A survey conducted by the German Consumer Centre shows a growing interest in crypto, with more than a quarter of young Germans saying they are willing to invest in cryptocurrency. This positive sentiment is evidence that global leaders and innovators of the future are aware of the potential the space has to offer. It is not surprising that a demographic whose lives have been characterised by smartphones, internet, and social media, see the attractive functionality cryptocurrency provides as an instant and decentralised means of transferring value.


Again, however, the survey highlights continued ambiguity in public perception of cryptocurrency and the utility of blockchain technology. Older demographics continue to perceive crypto investment as too “risky”, with just over 50 percent of people aged 30 to 39 adverse to any investment. Meanwhile, profitability is still a driving incentive for young people looking to become involved in cryptocurrency, as cited by about a quarter of those interested in investing. I think it’s clear we, as a community, need to work harder to educate people of the massive potential blockchain technology offers – cryptocurrency in itself is only the tip of the iceberg!”

 

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