Almost a third of young Germans are considering investing in cryptocurrencies – Poll
According to a survey conducted from the end of February to the end of March 2018 by the German bank Postbank among 3,100 Germans, 29% of respondents are interested in using cryptocurrencies as investments, writes Cointelegraph.
When asked why they are interested in cryptocurrencies, 60% of women and 51% of men cited “independence from traditional financial systems” as an important factor.
In addition, men are especially attracted by the possibility of earning high income – 56% versus 36% for women. For every third potential crypto investor, anonymity is also important.
In terms of age, cryptocurrencies are especially popular among people aged 18-34. In this age group, almost every second – 46% – is interested in cryptocurrency investments. 6% of Germans aged 18 to 34 have already invested in cryptocurrencies, and another 14% plan to do so within the next 12 months.
The head of digital department of Postbank Thomas Mangel said that the drop in cryptocurrency rates in recent months, apparently, did not affect their popularity..
“Despite the admiration for cryptocurrencies, young investors should not overlook the offerings of the traditional banking system. Anyone who has already invested in securities should definitely not invest in cryptocurrencies – due to the high risks. This type of investment is highly speculative, ”Mangel warned..
Many bankers in recent months have repeatedly warned the public about the dangers of fluctuations in the cryptocurrency market. For example, European Central Bank board member Yves Mersch sees digital currencies as a threat to financial stability and calls for strict banking supervision of the industry. In addition, Markus Müller, Director of Wealth Management at Deutsche Bank, criticized the high volatility of cryptocurrencies..
Earlier, two-thirds of Russians surveyed by VTsIOM called bitcoin an unprofitable investment.