Youths In South Korea Are Most Active Cryptocurrency Investors, Says Survey
A new survey shows that youths in South Korea top the list of the most active crypto-investors. Sometime this week a survey was published that indicates that most of the South Koreans, mainly in their 20s are the one investing actively in digital assets. These days, South Korea is a good destination for cryptocurrency exchange since more than 2 million South Korean citizens own one of the top digital assets.
Yonhap news agency is a South Korean funded company based in Seoul. Yonhap reported that South Korean citizens, mostly in their 20s are extremely active or involved in investing and trading cryptocurrency. Being ranked as Asia’s fourth-largest economy and now has a reputation for trading digital currencies even with the imminent government regulations. Yonhap also explained that more than 2 million South Korean inhabitants have at least one of the top cryptocurrencies to their name. Cryptocurrencies like bitcoin cash, ripple, bitcoin core, and ethereum are the most used by South Korean. The Korean Financial Investors Protection Foundation was in charge of the survey and conducted it in December of last year. A total number of 2,530 South Koreans within the age groups of 25 to 64 were questioned.
When data from the survey was released this past Wednesday, it discovered that 22.7 percent of the respondents are in their twenties and not to mention very actively within the cryptocurrency ecosystem. Among all the age groups, a calculated average of 13.9 percent were to a certain extent active digital currency investors. Also, the survey showed that 19.3 percent of south Koreans actively involved in cryptocurrency are in their thirties and as for those in their forties it recorded 12 percent. As stated in the survey, Numbers for people in their 60s reached 10.5 percent and those in their 50s at 8.2 percent.
With South Korean investors in their sixties ranking as the least active investors in cryptocurrency, the survey states however that they record the highest amount of investments done. The Korean Financial Investors Protection Foundation notes that those in the sixties made up to an average 6.58 million won (the US $6,161) in investment. After the sixties, the 50s follow on the list with 6.28 million won and the ones in their 40s at 3.99 million won. Next was the 30s which were at 3.73 million won and for the twenties 29.3 million won. Up to 70.2 percent of respondents to the survey stated that the main reason why they purchased virtual currencies was of investment purposes, while 34.1 percent of South Koreans used cryptocurrencies as a mean of payment for services.
