The Consumer Centers are basically government-backed non-profit agencies operating at state level unions. Their main focus is to protect the consumer along with providing advisory services. The aforementioned survey is conducted by two German federal states with a total population of over 10 million people. Both centers conducted a joint survey among internet users.
Upon asking their view on risk related to cryptocurrencies, 70% of respondents thought that crypto trading is a ‘risky’ or ‘very risky’ endeavor. The inference report also established a strong correlation between the estimation of risk and the age of the respondent. 54% of participants between the age of 30 to 39 deems crypto investments as dangerous, while 28% of participants between the age of 18 to 29 found the prospect of cryptocurrency to be “conceivable.”
“Investors need to know: cryptocurrencies in terms of investment are gray capital markets. There is no regulation or investor protection.”
A similar kind of poll was conducted in the U.S. recently, by research service YouGov Omnibus inferred that American millennials are inclined towards cryptocurrencies, with 36% claiming that they might prefer them over the dollar. While another poll by U.S. blockchain-analytics firm Clovr found that millennial men earning $75,000–$99,999 annually are more interesting in cryptocurrencies.