Cryptocurrencies have gained in importance in recent years and have become an important topic in the financial world. The idea behind cryptocurrencies is to create a digital currency that works independently of governments and banks. The most famous cryptocurrency is Bitcoin, and there are now thousands of alternative cryptocurrencies (altcoins) on the market. Notably, the market size of stablecoins, which are linked to fiat currencies such as the US dollar, is increasing. The most important stablecoins are Tether (USDT) and USD Coin (USDC).

Cryptocurrencies are gaining ground worldwide. The extent of interest in purely digital investments in Germany is shown by a Statista survey on cryptocurrencies. According to the Statista Consumer Insights, 13 percent of the people surveyed in Germany aged 18 to 64 use or own cryptocurrencies such as Bitcoin or Ethereum. For comparison: two years earlier it was nine percent. Thus, enthusiasm is comparatively limited, as the following Statista chart shows.

The enthusiasm of Brazilians and Indians for cryptocurrencies, however, appears to be much greater. In the US, the proportion is 17 percent, and in China – despite an official ban – it is said to be ten percent. Nevertheless, the use of cryptocurrencies is still increasing in Germany, as more and more companies and consumers recognize the advantages of decentralized payment systems and at the same time appreciate the value storage function of digital gold.

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