Why is the German Crypto Economy so Big- Augusta Free Press

The global adoption of cryptocurrency has been on a steady rise recently. From Africa to Asia, across Europe, and down to other continents, the adoption and growth rate has been on a meteoric rise. These trends all point to the fact that people are becoming more confident and interested in the multi-billion-dollar crypto industry. 

According to explodingtopics.com, it has been estimated that there are over 221 million cryptocurrency users worldwide. Contributing to this figure is one of the huge crypto economies in the world, the German crypto economy, which we will be looking at in this article. Also, we look at alternative cryptos that everyone should buy; top on the list are TAMA and IMPT.

German Crypto Economy Performance. 

Without mincing words, cryptocurrency has come to stay, and countries worldwide are beginning to recognize and accept this. Germany, one of the crypto-friendly countries, had experienced a boom in the crypto economy, thanks to the government’s new laws that have positioned it as one of the world’s top crypto safe-haven. One of the policies that have contributed to this performance of the crypto industry in Germany is the Zero tax on crypto holdings for over a year, favoring long-term crypto holders. And this implies that crypto holders will not be taxed on their profits as long as they don’t sell within less than a year. 

The German ministry of finance further classified tokens into different categories such as utility, security, debt, and payment. And for Europe’s economic superpower of this size to formally define and recognize different sectors of the crypto economy is a good step in the right direction that will further bring about widespread adoption of cryptocurrency. These latest developments have also prompted Binance to seek regulatory approval and operate again in Germany. According to figures released by crypto experts, it is estimated that over 2.1 million people, and 2.62% of Germany’s total population, currently hold cryptocurrency, suggesting a growing interest among Germans in purchasing cryptocurrency.


Interestingly, another figure shows that 48% of German cryptocurrency owners are now making purchases using crypto. According to reports, the new law could theoretically bring as much as €350 (~$425) billion of institutional investment into the cryptocurrency market. Undoubtedly, the crypto market will continue to grow due to these friendly policies in Germany and attract investors.

However, you might want to know what cryptocurrency is best to invest in or watch out for in 2023. We’ve compiled a list of alternative coins that you should consider.

Five Alternative Cryptos That Traders Are Investing In 2023. 

 

  1. Tamadoge (TAMA) – Best Meme Token To Buy Now

 

  1. Impt.io (IMPT) – Best Newly Launched Crypto To Invest

 

  1. Chainlink (LINK) – A Fully Decentralized Oracle Network.

 

  1. Aave(AAVE) – A Highly Efficient Crypto Lending Platform 

 

  1. Monero (XMR) – A Profitable Cryptocurrency To Watch Out For.

 

Now, let’s take a look at each of these coins one after the other.

 

  1. Tamadoge (TAMA) – Best Meme Token To Buy Now.

The crypto industry has continued to witness the rising of meme coins. Tamadoge is one of such that has come to stay and has endeared the hearts of many investors. Tamadoge is a multi-utility token considered one of the best coins to buy and hold. Its native coin, TAMA, has been one of the trending cryptos of 2022, and it’s the currency at the center of the Tamaverse. 

Another fascinating thing about this project is that it combines features like meme coin, NFT, and a Play-to-earn game on the Tamaverse. The crypto platform also allows users to earn rewards by playing games and interacting with their Tamadoge ultra-rare NFTs. The Tamastore also offers items for feeding and nurturing the Tamadoge pets, which can be purchased with TAMA cryptos. TAMA is currently valued at $0.03 on the coincodex.

 

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  1. Impt.io (IMPT) – Best Newly Launched Crypto To Buy. 

This newly launched project is making waves in the crypto space. If you’ve wondered how to invest in carbon credits, then IMPT provides you with an answer. The platform allows users to own carbon credits in various ways, from purchasing them on the IMPT marketplace to acquiring them while shopping. 

The project also aims to make carbon credits NFTs which will reduce carbon emissions and contribute to the campaign against the climate crisis. The project is currently in its pre-sale phase, which has been a massive success as the native coin, IMPT, has sold over 288 million coins and has raised over $5 million. This is a coin for you to buy in 2023, as it has enormous potential.

impt

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  1. Chainlink (LINK) – A Fully Decentralized Oracle Network. 

This decentralized oracle network is built on Ethereum’s blockchain platform to securely interact with external data sources, APIs, and payment systems. It connects data and information from outside a blockchain to on-chain smart contracts. I.e., it links off-chain and on-chain data through Oracle software, also known as middleware. The chainlink platform aims to deliver a reliable, tamper-proof network and seamless connection to any API. According to the coinmarketcap, LINK, the native coin of the chainlink platform, is currently valued at $7.29 with a market cap of $3,578,878,138.

chainlink

  1. Aave (AAVE) – A Highly-Efficient Crypto Lending Platform.

Aave is prominent decentralized finance (Defi) platform that allows its users to lend or borrow cryptos. This network enables participants to deposit funds they wish to lend, earning interest through that. Also, the borrowers can use their crypto as collateral to borrow a range of altcoins and stablecoins supported by the network using this liquidity. According to coingecko, AAVE, the native coin of this platform, is currently valued at $77.72. AAVE is definitely one of the coins to buy in 2023.

aave

  1. Monero (XMR) – A Profitable Cryptocurrency To Watch Out For in 2023. 

Crypto analysts have projected Monero to be one of the good buys in 2023 that will bring big gains. This unique crypto platform is an open-source, decentralized cryptocurrency launched in 2014. The native coin XMR is a privacy-focused peer-to-peer coin designed to be untraceable and anonymous. These characteristics make it a fungible token that cannot be linked to a particular user or real-world identity. The current value of XMR is $142.62, as indicated by coincodex

monero-log

Conclusion  

The German crypto economy is increasingly growing and attracting more investors from within and outside. The crypto market brings many opportunities that will enable investors to gain massively, especially as the industry begins to grow big and experience global adoption. However, in this article, we’ve looked at some coins like TAMA and IMPT that are profitable and good buys for every investor in 2023.