29% of young Germans expressed a desire to invest in cryptocurrencies

German Bank Postbank has published the results of a survey conducted among 3100 Germans since the end of February to the end of March 2018. It was found that 29% of respondents expressed a desire to invest in cryptocurrencies.

60% of women and 51% of men explained their interest to the fact that cryptocurrency is «independent of the traditional financial system.» They also found that men are more attracted to the possibility of obtaining high income: 56% versus 36% in women. Every third potential investor noted that it is important for the anonymity, which gives the cryptocurrency investment.

Especially popular cryptocurrencies from people aged 18 to 34 years, constituting 46% of the respondents. 6% of Germans in this age group have already invested in crypto currencies and 14% plan to do so in the next 12 months.

The head of the digital Department Postbank Thomas Mangel (Thomas Mangel) noted that despite the depreciation of the cryptocurrency in recent months – it does not affect their popularity.

«And yet despite the fact that cryptocurrency is still fairly popular way of investing, young investors should not lose sight of offers from the traditional banking system. I believe that those who have already invested in securities, should not invest in crypto currencies, as the risks remain very high. Cryptocurrency assets is very speculative kind of investments,» said Mangel.

Over the past months, many bankers have repeatedly warned the public about the high risks present in the market of cryptocurrency, associated primarily with high fluctuations in the value of cryptocurrency assets. So, for example, a member of the Board of Directors of the European Central Bank, Yves Mersch (Yves Mersch) believe that digital currencies pose a threat to financial stability and calls for strict supervision of banking industry. Too high volatility causes concern to the Director of Deutsche Bank wealth management Markus Muller (Markus Mueller), which often acts with criticism of the cryptocurrency.

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