The trading platform Bitvavo has commissioned the market research company Markteffect to conduct a study on the use of cryptocurrencies. The results are surprising – especially with regard to the German participants: Germans should be more inclined to invest in Bitcoin than people in Belgium or the Netherlands! In addition, the Germans rate their knowledge of Bitcoin higher than the respondents from the other two countries.
M.arkteffect asked more than a thousand participants from each of the three countries. Participants were asked about their knowledge of digital currencies, their willingness to invest in them, and their trust in Bitcoin, as well as about other perceptions of the crypto market. As digital currencies are becoming increasingly popular in Europe, the aim of this survey is to find out how the market is developing and how quickly the individual digital currencies are being adopted.
The main results of the survey are:
1. 37% of German respondents expect to invest in Bitcoin in the coming year, compared to 19% in Belgium and 15% in the Netherlands.
2. 25% of German respondents describe their knowledge of Bitcoin as good or very good, compared to Belgian (16%) or Dutch (13%) respondents.
3. Germans are relatively open to Bitcoin. 40% of word associations with Bitcoin were positive, compared to 32% neutral and 27% negative words.
4th Bitcoin is by far the best-known digital currency. Ethereum and Dogecoin follow in second and third place, respectively.
5. The diversification of the portfolio (39%) and the fear of foregoing high returns (25%) are among the most important reasons given by the German respondents for an investment.
6th The majority of German respondents (51%) are optimistic about the future of Bitcoin and believe that its popularity will increase in the next few years.
As the digital currency market continues to mature, we see different Bitcoin acceptance rates across European countries. Our study shows that the German market is undoubtedly ahead of other regions when it comes to Bitcoin knowledge and the willingness to include investments in digital currencies in their portfolio. Despite the fact that this study was conducted at a time when the Bitcoin price was relatively low, our results show that more than four million Germans are already Bitcoin owners and that almost 25 million (37%) of Germans plan to Either to continue investing in the future or to start with it. “
Willem Jan Rutgers, Bitvavo (website)
Although the survey was conducted at a time when Bitcoin was at its lowest point (~ $ 33,000, compared to ~ $ 45,000 today), many German respondents are confident about their Bitcoin investment.
The German population is the most forward-looking among the countries we surveyed when it comes to the introduction of Bitcoin. They look five to ten years into the future, while respondents in the Netherlands and Belgium see a much shorter time frame for return on investment. We assume that we will see more adoption trends in the German market as we continue to monitor the country in our quarterly Bitcoin Monitor reports and the crypto industry continues to mature. “
Bas de Vries, customer advisor Markteffect and co-author of the studyaj
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