Survey: Germany Most Skeptical Country Towards Cryptocurrencies

Currently, cryptocurrency or cryptocurrencies are trending among investors. Although not yet protected by regulation, the number of cryptocurrency investors continues to increase every year.

Investing in cryptocurrency is considered to have many advantages, such as high returns, inflation hedging, ease of use, flexibility, and transparency. Despite all this, many people remain skeptical of cryptocurrency.

Finder.com conducted a survey on cryptocurrency sentiment in 27 countries in January 2022. The results showed that about 51% of internet users worldwide consider crypto a good investment.

However, Germany was the country most doubtful of crypto in the Finder survey findings. This is evident from only 17.2% of respondents giving a positive response regarding cryptocurrency.

Above Germany is Sweden, with only 17.7% of respondents considering crypto a good investment. Following this are Norway at 20%, Canada at 23.5%, and Japan at 23.6%.

Meanwhile, the country that most considers cryptocurrency a good investment is Nigeria. A recorded 87% of respondents in Nigeria had a positive opinion of cryptocurrency.

The Finder survey also found a strong correlation between the level of positivity regarding crypto investment and government transparency, where countries ranked poorly on Transparency International's Corruption Perception Index had high rankings in positivity towards crypto.

This indicates that cryptocurrency is more attractive in countries with the highest levels of corruption. Citizens of these countries may view cryptocurrency and crypto wallets as a more reliable investment method than traditional banks.

(Also Read: Indonesia Ranks 4th Largest in the World for Cryptocurrency Users)