Europe: Investments in crypto rated positively according to Coinbase

According to a Coinbase report, 56 percent of all respondents in Europe plan to expand their crypto inventory by 2022. Overall, market sentiment is good.

Do you love numbers? This article is for you!

As you already know from the previous article, worldwide crypto is on the rise. The most optimistic forecasts are for 1 billion users by the end of 2022. The reputation of having a growth rate similar to the Internet in its time precedes cryptocurrencies. Coinbase has now evaluated the data of 6,115 respondents from European countries to analyze the investment climate.

“The entry barrier to buying crypto is already relatively low.”

Prof. Philipp Sandner from the Frankfurt School told us in an interview what is now becoming clear in the Coinbase report. More and more people are starting to invest in cryptocurrencies. Using the data forecast for 2022, there is an annual increase of 32% in first-time crypto investors. These numbers seem almost incredible as many investors were swept out of the market by the cryptocurrency crash in 2018. However, it is gratifying that 60% of all investors bought crypto for the first time in the years 2019 to 2021. So the trend is pointing sharply upwards!

Source: Coinbase Crypto Report Europe 2022 H1

In addition, respondents from European countries stated that they would increase their stocks for the most part in the coming year. Only 10% in the group between 18 and 39 want to get rid of wealth – even among the 60-year-olds it is only 14%. For 23%, concerns about deposit security play the main reason why they do not consider crypto. Grandpa wants to keep his money safe.

It is not surprising that the younger generation in particular views investments in crypto positively. As many as 57% of all crypto-owners belong to the group of 18 to 39-year-olds. In another article, we tried to explain why 70% of these are men.

Staking and NFTs – to a large extent

When asked what activities users celebrate with their cryptocurrencies, NFTs and staking came surprisingly to the top 4 answers.

Source: Coinbase Crypto Report Europe 2022 H1

Only 25% of all respondents said they wanted to trade or keep their assets. NFTs in particular are among the more recent phenomena in cryptorum, as they only really got attention in May 2021 with the advent of the Bored Ape Yacht Club. A good indicator of growing betting popularity is also Total Value Locked – this saw a true flow of money with the bull market in 2021. Around $ 200 billion has been invested in all currently active chains.

The evaluation of assets, with the greatest popularity among the population, is less surprising. What do you think?

Almost all cryptocurrencies have bitcoin! As many as 69% of respondents said they own Bitcoin. Ethereum and Binance Coin have 45 and 25% respectively. The two memecoins Dogecoin and Shiba Inu make it 24 and 18%.

Source: Coinbase Crypto Report Europe 2022 H1

To draw a line under it all: the outlook is very positive. The Coinbase Crypto Sentiment Index is designed to reflect investment behavior and show general enthusiasm. Although there are not many reference years, the increase is visible in the third quarter of 2021. The value recorded an increase of 4 points.

Investors in Europe made the biggest profit

The TradingPedia firm spared no effort in figuring out which people made the most profits. To do this, they combined data on cryptocurrencies from Chainalysis with the average income per country. So the only continent with a 30% income increase was Europe! Compared to the 9% and 17% in the US and Canada, it is quite impressive. Among the German-speaking countries, Germany comes last with 16%, with Switzerland and Austria coming in at 58% and 39%.

We seem to be living in just the right time to invest in crypto. The data are consistently positive and show that we are only in the initial phase of adaptation. And to the small group of grandparents who also hold crypto: Stop it!


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