A survey among 3,864 respondents that is representative of the adult Internet population in Germany allows deep and reliable insights into the adoption and usage of cryptocurrencies. 87% of the population know about cryptocurrencies.
18% of all adult Internet users in Germany either currently own cryptocurrencies (9.2%) or have owned some in the past (9.1%), with Bitcoin being most well-known (83%), followed by Bitcoin Cash (27%) and Ethereum (23%).
Most users first acquired or mined cryptocurrency in 2017 or 2018. Bitcoin.de is the preferred exchange of Germans, followed by Coinbase and Kraken. On average, €2,770 was invested and the current average portfolio value is €6,314 (+128%).
Nearly two thirds of crypto users (62%) report their exposure to be ideologically motivated. The average age of crypto users is 39 years, they are very often male (68%), better educated, and have a higher income compared to non-users.
Blockchain Research Lab (2019). The State of Cryptocurrency Adoption: Results of a representative survey among German Internet users. https://www.blockchainresearchlab.org/wpcontent/uploads/2019/07/The_State_of_Cryptocurrency_ Adoption_Q1_2019_Germany_ Blockchain_Research_L ab.pdf