VICTORIA, Seychelles--(BUSINESS WIRE)--KuCoin, a leading global cryptocurrency exchange, has unveiled its 12th "Into the Cryptoverse" report, "Understanding Crypto Users In France." The report uncovers the significant role of Gen Z investors in shaping the future of the French crypto market; approximately 40% of Gen Z crypto investors entered the crypto space in the last 6 months.
The study, based on interviews with 500 adult crypto investors aged 18 to 60, provides a comprehensive overview of the motivations and preferences driving crypto investment in France. It also draws comparisons with the recently released German Country report, stimulating crucial discussions within the prominent crypto communities in Europe.
- A staggering 40% of Gen Z respondents have entered the crypto space within the last six months, indicating a growing interest and curiosity among young individuals in digital assets as part of their investment strategies.
- Despite 60% of Gen Z crypto users earning less than €35,000 per year, their enthusiasm for crypto investment remains undeterred, highlighting the financial resilience and adaptability of this younger generation.
- In France, 60% of Gen Z crypto users earn less than €35,000 per year, while in Germany, 62% earn less than €50,000 annually, both significantly lower than their Gen Y and Gen X counterparts. This trend highlights the financial challenges faced by the younger generation, yet their enthusiasm and adaptability signal a promising future for the crypto ecosystem in both countries. Gen Z investors in both France and Germany are attracted to crypto for the possibility of quick returns, reflecting their higher risk tolerance and eagerness for rapid wealth accumulation.
- Crypto use cases in France extend beyond trading, with Gen Z users showing higher engagement in purchasing non-fungible tokens (NFTs), utilising crypto for entertainment and travel expenses, and leveraging digital assets for online shopping.
- Gen Z investors heavily rely on social media influencers for crypto education, demonstrating their comfort with digital platforms and their potential to drive the future of crypto learning.
- Bitcoin and Ethereum are highly favoured in both countries, with Gen Z showing the highest preference for Ethereum, indicating their inclination towards innovative and emerging crypto projects.
KuCoin’s 12th 'Into the Cryptoverse' report underscores is the growing reliance on cryptocurrencies among the younger generation, particularly Gen Z.The report serves as a compelling deep insight for policymakers, professionals, and investors to collaborate in shaping the future of the French crypto ecosystem. The industry must work together to provide comprehensive education, and develop innovative solutions that empower individuals across generations, particularly the Gen Z investors who are fueling the future of the crypto market.
As the "People's Exchange," KuCoin remains committed to supporting the French crypto community and driving sustainable growth in the industry.
"Our 12th 'Into the Cryptoverse' report uncovers a powerful trend: Gen Z is fearlessly diving into the crypto market, demonstrating an unprecedented level of interest and adaptability. This younger generation is not just participating, they are shaping the future of the crypto ecosystem. At KuCoin, we are committed to fostering this enthusiasm, living up to our commitment and empowering all investors to navigate the exciting journey of cryptocurrency. The future of crypto in France is bright, and Gen Z is leading the charge." - Johnny Lyu, CEO, KuCoin
To access the full report please visit the KuCoin website or click here.
Launched in September 2017, KuCoin is a global cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community action reach, it offers over 700 digital assets and currently provides spot trading, margin trading, P2P fiat trading, futures trading, staking, and lending to its 29 million users in 207 countries and regions.
In 2022, KuCoin raised over $150 million in investments through a pre-Series B round, bringing total investments to $170 million with Round A combined, at a total valuation of $10 billion. KuCoin is currently one of the top 5 crypto exchanges according to CoinMarketCap. In 2023, KuCoin was named one of the Best Crypto Exchanges by Forbes and recognized as a highly commended global exchange in Finder's 2023 Global Cryptocurrency Trading Platform Awards.