Bitcoin, Crypto currency, Blockchain

Consumer Central Hesse: Bitcoin is still a “marginal phenomenon”

The consumer advice centre of Hesse has interviewed in a representative survey of Internet users for their opinion on Bitcoin & co. The resulting opinion indicates that in terms of crypto-adaptation and acceptance is still quite a bit of reconnaissance work.

Germany is still far from to be a crypto-Nation. At least when it comes to the acceptance of digital currencies as a means of payment. This was the focus of the consumer Central Hesse published survey, the results of the 5. November, were published in a press release.

Therefore, crypto-currencies, although more than half of the respondents to explain a concept – how they function, felt, however, only a third of those surveyed able. Eleven percent of those who have heard of crypto wähungen could imagine to invest in this. Particularly interested in the 18 were – to 29-Year-old. Of these, almost one third of could imagine the purchase of Bitcoin & co. Rolf Brandes of the consumer Central Hesse is the potential of Young investors and concerns of investors:

“Investors need to know: crypto-currencies as a financial investment are Grey capital market. Regulation and investor protection.“

Bitcoin is still a “marginal phenomenon”

Investments in crypto-currencies with significant risks may be associated, is, however, a majority of the respondents are already aware of. 70 percent of respondents classified such investments as “more risky” or “very risky” – the 30 were – to 39-Year-old on the most courageous: Only 54 percent of this age group can be Reports on the sometimes high volatility of the crypto market, or fraudulent Initial Coin Offerings quenching. The latter had lately strengthened its social media presence, as fire:

“The associated risks up to total loss of the invested money. In addition, we observe for some time that shady vendors are particularly active on Social media. You attract apparently targeting younger consumers, for example, with a promising Investment around the new crypto-currencies. Behind multilevel compensation plans, which are likely pyramid schemes, or the money is invested at the end of the path, and the provider is not reachable any more of that, but often.“

To reject Bitcoin & co. initiated according to the consumer advice centre of Hesse, at around 21 per cent of the respondents. Only eleven percent believe in crypto-currencies, a means for simple and rapid processing of transactions. No wonder: Is the Bitcoin-acceptance among German retailers, but – to put it mildly – expansion of said capable. Whether in the foreseeable future something will change, according to Kerstin Schultz of the consumer advice centre of Saxony, nor in the stars:

“[…] in the case of crypto-currencies outweighs overall, the scepticism towards the trust. In addition, a few providers currently accept crypto-currencies as means of payment. Whether this be from a marginal phenomenon to a genuine payment alternative for consumers, is still completely open“

So, there is still a long way for Bitcoin-Republic of Germany – perhaps a view of the pragmatic approach of our neighbours in Austria is worth it.

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