Annual crypto adoption development in Germany 2020-2023, by metric

Published by
Raynor de Best,
Mar 26, 2024
Germany nearly entered the top 20 of countries in the world in 2023 when it comes to crypto adoption based on transaction volume. The figure for 2023 stands out in that the importance of Decentralized Finance (DeFi) in Germany declined. For both metrices covering DeFi, Germany ranked well into the top 20 of the world in 2022 - namely, position 15 for cryptocurrency value received via DeFi and position 10 for retail value received via DeFi. Interestingly, Germany ranked higher for decentralized services than it did for centralized services, where it ranked especially low for centralized P2P trading.

Crypto Adoption Index ranking of Germany from 2020 to 2023, by metric

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Source

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Release date

October 2023

Region

Germany

Survey time period

July 2020 to June 2023

Special properties

Ranking (1 = highest, 146 = lowest); Weighted by purchasing power parity (PPP) per capita

Supplementary notes

All figures have been collected by Statista.

The source explains that its index is calculated using five different sub-indices, which are estimated using an individual country's cryptocurrency transaction volume in different situations. These estimates are based off web traffic patterns from individual websites that are used for such transactions and/or protocols.

Several changes were made to the source's methodology over the years. In 2022, the main change involved the inclusion of Decentralized Finance (DeFi) transaction volume. Centralized and Decentralized sub-indices both count equally to the overall index.

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Market share

7

Penetration

8

Biggest brands

6

Users

7

Transaction value

6

Number of transactions

5

Miscellaneous

7

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Topics

Digital payments landscape in GermanyMobile payments with digital walletsFintech in EuropeA2A (account-to-account) paymentsDigital payments trends across Europe
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