Bitkom : Awareness of Cryptocurrency Increased in Germany in 2017
The German population is increasingly becoming aware of the exixtence of cryptocurrency according to a survey recently published by the German Association for Information Technology, Telecommunications and New Media (Bitkom).
The survey revealed that over two thirds of the country’s population are aware of Bitcoin (BTC) since 2017 as compared to just 36% of the citizens who had knowledge of the cryptocurrency in 2016.
According to this year’s survey, 4% of the 1,009 respondents actually own Bitcoin, 19% said they had an idea of how to buy Bitcoin, and 72% said they had no interest in digital currency.
As the Bitkom study shows, the two main reasons for the 72% of Germans who are not interested in Bitcoin are the risks of high price volatility and lack of knowledge about the practical use of Bitcoin. However, the Bitkom CEO, Bernhard Rohleder noted the positive impact of cryptocurrencies on the nations economy.
“Bitcoin and other cryptocurrencies are a good example of how the digital age is able to change the financial world. This is not so much about the individual currency itself as it is about the underlying blockchain technology. It will have an impact on the whole economy,” Mr. Bernhad reported.
On Monday, February 12, European regulators warned consumers that cryptocurrencies were “high-risk” assets that contained “obvious signs of a price bubble.”
Knowledge about cryptocurrencies is high in Germany compared to other countries. According to a January 13 survey, more than 56% of Russians have heard of Bitcoin. In August 2017, Charles Xue, a $ 1 billion Sino-US investor, suggested that the vast majority of people in China, 70-80%, had never heard of Bitcoin.
Germany was the first country to have formally accepted bitcoin and regulations on its use as a digital currency was first drafted in the country in 2013.
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