One in three German millennials would consider crypto investment

A third of millennials in Germany would consider investing in cryptocurrency, and 6 per cent already have, according to new research.

The survey of 3,100 people, from German bank Postbank, also revealed that 14 per cent of German 18-34 year olds are planning to invest next year, with 46 per cent considering making an investment before the end of 2018.

“Despite all the fascination, young investors should not lose sight of offers from the established banking system,” said the head of Postbank’s digital department. “Anyone who already makes an investment in securities as an investment should certainly not invest in cryptocurrencies because of the high risks involved. Because this type of investment is highly speculative.”

Perhaps unsurprisingly young people have taken to Bitcoin and cryptocurrency all over the world as it has grown in popularity.

Another notable result of the survey is that 60 per cent of women and 51 per cent of men cite “independence from established financial systems” as an important deciding factor when looking at cryptocurrency investment.