Bitcoin offers a tremendous potential in every country in the world. Even developed countries, such as Germany, can gain a lot from embracing cryptocurrency at an early stage. A new study by BearingPoint indicates Bitcoin adoption, as well as other virtual payment methods, are on the rise in the country. This is not entirely surprising, as consumers see the benefits of financial freedom quite clearly.
One of the primary concerns for Bitcoin is how people perceive the cryptocurrency. In Germany, 72% of all respondents to the BearingPoint study indicate they have heard of virtual payment methods before. This is a rather high number, as most countries would score a lot lower than that. Moreover, 80% of survey participants know what Bitcoin is, or have used it in the past.
Germany Warms Up To Bitcoin And Other Cryptocurrencies
Other cryptocurrencies are doing quite well too. PayCoin, even though an apparent scam executed by the Garza family, is well-known in Germany. BitShares, a very different ecosystem from Bitcoin, is also gaining more traction in the region. However, knowing these currencies and getting a hands-on approach remain two very different things.