Study Finds South Koreans Aged 20-39 Mainly Invest up to $100 in Cryptocurrencies – Emerging Markets Bitcoin News

The crypto boom in South Korea is a term often used by local media to describe the current craze in the Asian country. In fact, a recent study shows that South Koreans are increasingly investing in small-scale cryptocurrencies.

New crypto investors think they are not afraid of strictrules.

According to a market analysis study on virtual currencies conducted by Edaily-listed big data firm IGA Works, nearly 60 percent of new cryptocurrency investors in the country are between the ages of 20 and 30. It should be noted that this segment of traders often prefers to invest smaller amounts in cryptocurrencies, up to $100.

But the study went further, saying that South Korean cryptocurrency investors are looking for bitcoin (BTC) and cryptocurrencies with the highest market value between 20 and 30 years old.

The trader, named Mr. A, reported that he spent about 100,000 Korean Won ($88) of his salary on BTC and other altcoins every month.

IGA Works says the number of monthly users of cryptocurrency apps crossed the three million mark for the first time in February. Nevertheless, the company considers this figure a milestone, as fears of stricter regulation of national stock markets do not deter investors.

Yet experts quoted by Edaley think this trend of small crypto investments is due to the massive warnings against allocating money to crypto.

Especially those who caution against investing large sums in cryptocurrencies, given the high volatility the bull market has brought.

South Korean cryptocurrency investors have made transactions worth more than $7 billionin just two months.

But cryptocurrency fever is still present among South Koreans. As News reported in early March, domestic cryptocurrency investors made money between 1. January and the 25th. February 2021: about $7 billion in sales per day. Moreover, according to the data, 42% of the average volume was traded on the COSPI exchange.

The study was compiled by Kim Byung Wook, a Democratic congressman, who pulled data from Bitumba, Upbeat, Corbit and Koinone, the largest regional cryptocurrency exchanges.

What do you think of the trend identified in the study? Let us know your comments in the section below.

Photo credit: Shutterstock, Pixabay, Wiki Commons

Denial: This article is for information only. It is not a direct offer or invitation to buy or sell, nor is it a recommendation or endorsement of a product, service or company. does not provide investment, tax, legal, or accounting advice. Neither the company nor the author shall be liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services referred to in this article.

Related Tags:

coinmarketcap,korean cryptocurrency coins,south korea cryptocurrency news,bitcoin price,south korean cryptocurrency coins,korean crypto coins list,Privacy settings,How Search works,bithumb,s-coin

Recent Articles

Bitcoin Price Captures a $64,895 High, Pantera CEO Says ‘BTC Rally Exactly Like Previous Halvings’ – Markets and Prices Bitcoin News

Over the past 24 hours, cryptocurrency markets have exploded, with billions of dollars flowing into the crypto economy. Bitcoin reached a new all-time high...

NFTs Come to Live in Uquid Shop as NFTD – Press release Bitcoin News

Press Release PRESS RELEASE. Uquid Shop, the largest e-commerce platform using digital assets, is ready to buy and sell digital art, social and digital content,...

Defi Trading Platform Support 100X Leverage. No KYC. No Gas Fee – Press release Bitcoin News

Press releaseNo gas tax PRESS RELEASE. YFX.COM is the world’s first decentralized inter-chain exchange for perpetual contracts. Although there are other trading platforms that offer...

US Government Concerned China’s Digital Yuan Could Threaten Dollar as the World’s Dominant Reserve Currency

The US government is reportedly concerned that China’s digital yuan could threaten the status of the US dollar as the world’s leading reserve currency....

South Korean crypto traders are pivoting to ‘smaller cap’ altcoins

South Korea’s four major cryptocurrency exchanges – Bithumb, Korbit, Upbit and Coinone – are showing a notable cooling in their exposure to bitcoin (BTC). At...

Related Stories