Digital currency
Survey: One in Eight Adults Invest in Crypto
Bitcoin (M.) and Ethereum coins. photo
© Fernando Gutierrez-Juarez/dpa
Almost half of adults in Germany invest in investments, especially in stocks, ETFs and real estate. But many people also look for their fortune in cryptocurrencies like Bitcoin.
Cryptocurrencies are encrypted, digital money that was created independently of financial institutions, central banks and states. Cryptocurrency transfers are stored in an open database called a blockchain.
People in Germany primarily associate the term “cryptocurrency” with Bitcoin, which was launched in 2009 by a person or group under the pseudonym Satoshi Nakamoto. When asked “When you think of cryptocurrencies, which ones come to mind?” 51 percent of people who understood the term said Bitcoin. 13 percent named the second largest digital currency Ethereum and 5 percent the controversial fun currency Dogecoin, which was often put in the spotlight by US billionaire Elon Musk.
Main motivation: to make money quickly
Among those surveyed, the prospect of making money quickly is seen as the main driver for crypto investments. And those who start to deal with the topic often don’t just leave it at theory: According to the survey, on average, cryptocurrency owners make their first investment in the crypto sector just a few months after they have familiarized themselves with the topic.
Since Bitcoin has been increasing in value for months and is currently not far from its all-time high despite occasional setbacks, it is not surprising that the majority of those surveyed draw a positive financial balance. Two-thirds of cryptocurrency investors said in the survey that they had made profits from their investments.