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29% of Germans consider crypto-currencies as investments

30.05.2018
Crypto-currency, Germany

29% of German citizens view the digital currency as an interesting investment. Such data are provided by the German Postbank in its study "Digital Money and Money".
According to a press release, a representative survey of 3,100 Germans was conducted in February-March. In the age group of 18 to 34, almost every second (46%) is interested in crypto currency as an investment, despite the negative news background.

Last year, the value of the crypto currency grew from one record level to another, but from the end of 2017, the price of Bitcoin, the most popular crypto currency, fell by more than 65%. The media widely covered the fluctuations in prices and opinions of various experts on the prospects of crypto-currencies.

"It is noteworthy that the Germans are still interested in crypto currency as a financial investment, despite the high losses and obvious risks," says Thomas Mangel, head of the Digital Postbank department.

"There is a real real danger that people will lose money only because they are in a rush." ​​Bitcoin was the first crypto currency in 2009, and now there are more than 1,500. Decentralized data management and cryptographically protected protocols create digital payment transactions without central authorities such as banks, "- noted in a press release.

In particular, independence from the created financial systems fascinates the Germans with regard to crypto-currencies. This aspect is much more important for women - 60% than for men -51%. On the other hand, the prospect of allegedly high incomes, especially of men - 56% compared with 36% of women.

For every third admirer of crypto currency, anonymity is important. For every fifth person concerned, there are also emotional reasons, such as thrill and a sense of "golden jerk" in investing in a relatively new form of digital investment.

As the study showed, a step towards investment is made especially by young people. So, among the residents of Germany at the age of 18 to 34 years - 6% of them have already invested in the crypto currency, and another 14% plan to do it within a year.

"Because of the media, many people overestimate their knowledge of the opportunities and risks of crypto currency as an investment," warns Thomas Mangel.

For example, many may not know that profits from crypto currency should be taxed if they are not stored for at least a year. In addition, the risk of total loss, which does not exist for other investments in this form, is not given sufficient attention.

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