[VICTORIA, Seychelles] – KuCoin, one of the world’s leading crypto exchanges, has unveiled its 12th “Into the Cryptoverse” report, “ Understanding cryptocurrency users in France“. The report reveals the significant role of Gen Z investors in shaping the future of the French cryptocurrency market; around 40% of Gen Z cryptocurrency investors entered the crypto space in the last 6 months.
The study, based on interviews with 500 adult crypto investors between the ages of 18 and 60, provides an overview of the motivations and preferences driving crypto investing in France. It also draws comparisons with the german national report recently released, sparking crucial discussions within major crypto communities in Europe.
- A whopping 40% of Gen Z respondents have entered the crypto space in the past six months, indicating a growing interest and curiosity among young people in digital assets as part of their investment strategies.
- Although 60% of Gen Z cryptocurrency users earn less than $35,000 per year, their enthusiasm for investing in cryptocurrencies is unabated, underscoring 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% of them earn less than €50,000 per year, which is significantly lower than their Millennial and Gen X counterparts. the two countries. Gen Z investors in France and Germany are attracted to cryptocurrencies because of the possibility of quick returns, which reflects their greater tolerance for risk and their eagerness to accumulate wealth quickly.
- Cryptocurrency use cases in France go beyond commerce, with Gen Z users showing more engagement in buying non-fungible tokens (NFTs), using cryptocurrencies for entertainment and travel expenses, and using digital assets for online purchases.
- Gen Z investors rely heavily on social media influencers to learn about cryptocurrencies, demonstrating their comfort with digital platforms and their potential to lead the future of cryptocurrency learning.
- Bitcoin and Ethereum are highly favored in both countries, with Gen Z showing a stronger preference for Ethereum, indicating their inclination for innovative and emerging crypto projects.
KuCoin’s 12th “Into the Cryptoverse” report highlights the growing reliance on cryptocurrencies among the younger generation, especially Gen Z. The report serves as a compelling detailed overview 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, especially Gen Z investors who are fueling the future of the cryptocurrency market.
As a “People’s Exchange”, KuCoin is committed to supporting the French crypto community and fostering sustainable industry growth.
” Our 12th “Into the Cryptoverse” report reveals a powerful trend: Gen Z are fearlessly jumping into the cryptocurrency market, showing 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, delivering on our pledge, and empowering all investors to navigate the exciting cryptocurrency journey. The future of cryptocurrency in France is bright, and Gen Z is leading the charge.”
Johnny Lyu, CEO of 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 operational headquarters in the Seychelles. As a user-centric platform with an emphasis on inclusivity and reach for community action, it offers over 700 digital assets and currently offers 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 in a pre-Series B round, bringing total investments to $170 million with the A round combined, at a total valuation of $10 billion. KuCoin is currently one of the top 5 cryptocurrency exchanges according to CoinMarketCap. In 2023, KuCoin was named one of the top cryptocurrency exchanges by Forbes and recognized as a highly recommended global exchange in Finder’s 2023 Global Cryptocurrency Trading Platform Awards.
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