20 mins ago |
By Jamie Redman – |
Survey Finds South Korean Youth the Most Active Crypto-Investors
A survey released this week reveals that many South Koreans in their 20s are actively investing in digital assets. The region has become a hotbed for cryptocurrency exchanges as more than 2 million South Korean citizens own one of the top digital assets.
South Koreans in Their Twenties: The Most Active Crypto-Investors
According to the regional publication Yonhap, South Korean residents in their 20s are very active when it comes to cryptocurrency investments and trading. South Korea is Asia’s fourth-largest economy and its become a popular region for trading digital currencies despite pending government regulations. The local news outlet details that over 2Mn South Koreans residents claim to own popular cryptocurrencies like bitcoin cash, ripple, bitcoin core, and ethereum. The Korean Financial Investors Protection Foundation ran a survey in December and questioned 2,530 South Koreans between the ages of 25-64.
The survey’s data shows that around 22.7 percent of the respondents were in their twenties and are very “active” within the cryptocurrency ecosystem. Out of all the age groups, an average of 13.9 percent were also relatively active digital currency investors. These metrics were followed by South Koreans in their thirties (19.3%) and their forties (12%).
“Numbers for people in their 60s reached 10.5 percent and those in their 50s at 8.2 percent,” explains the Survey’s data.
More Than Two-Thirds of the Survey Respondents View Cryptocurrencies As an ‘Investment’
Even though investors in their sixties were low on the list, the survey explains that this age bracket was the highest on record in the amount of the investments made. The Korean Financial Investors Protection Foundation says that this group spent an average of 6.58 million won (US$6,161). The 30-year old age bracket had shown that they paid 3.73 million won ($3,478 USD), and those in their twenties around 29.3Mn won ($27.2K USD). Moreover, the study details that over 70 percent of South Koreans surveyed view cryptocurrencies are an “investment.” While 34 percent of the 2,530 respondents use digital currencies as a payment service.