Switzerland’s Crypto Use Is Double Germany’s, Study Finds

Switzerland has spent years building the conditions for broader cryptocurrency adoption, and the latest data suggest those efforts are paying off. A Bearingpoint study found that 23% of Swiss adults use cryptocurrency at least occasionally, more than double Germany’s 11% rate, pointing to a market where digital assets have steadily become part of mainstream financial discussions rather than a niche interest.

YouGov conducted the online survey between June 18 and June 29, polling 2,031 people in Germany, 1,003 in Austria, and 1,001 in Switzerland. The sample was weighted by age, gender, and region, providing a representative snapshot of adults in each country.

The differences run deeper than ownership. In Switzerland, 37% of respondents viewed cryptocurrency as a worthwhile investment, compared with 28% in Austria and 23% in Germany. Swiss respondents were also more willing to see digital assets eventually serving as international trade or reserve currencies, with 45% expressing that view versus 36% in Austria and 32% in Germany. Those figures typically emerge only after people become comfortable with the technology, not simply aware of it.

Dr. Robert Bosch, Bearingpoint’s global head of financial services, said the findings show Switzerland is not just more receptive to cryptocurrency but more willing to embrace digital money overall. Bosch remarked:

“Germany discusses risks, while the neighbors are already using and investing more strongly.”

The timing mattered. While much of Europe was still building its regulatory framework, Swiss companies were already operating under clear rules. That gave founders, investors and financial institutions time to establish businesses, refine products and gain practical experience before broader European regulations arrived.

The survey also found cryptocurrency adoption remains strongest among younger adults and continues to vary by gender, education, and income. In Switzerland, 36% of respondents between 18 and 24 reported using cryptocurrency, while Austria and Germany showed the same pattern at lower participation levels. Those demographic trends help explain who is adopting first, but they do not account for Switzerland’s broader national lead.

That combination has become increasingly common. People often view cryptocurrency as another financial tool instead of an alternative to traditional money, allowing banks and policymakers to expand digital offerings without displacing established financial products.

Germany still trails Switzerland in retail adoption, but its banking sector could reshape that picture. Cooperative banks associated with DZ Bank and savings banks linked to Dekabank collectively maintain roughly 80 million customer relationships, giving them a reach few cryptocurrency platforms can match.

That approach gives Germany enormous distribution potential, but Switzerland still benefits from years of accumulated expertise, infrastructure, and business concentration. Future Bearingpoint surveys, along with customer adoption figures from Germany’s banking platforms, should provide a clearer picture of whether the gap begins to narrow or whether Switzerland continues to pull ahead.