Korea has been at the forefront of the crypto and blockchain revolution as it has been a leader in regulations, innovation, support and investments in this nascent technology. While 2018 saw a drop in global investment in crypto, Korea still was an outlier at its population above the age of 40 have doubled their exposure in crypto since 2018.
Average amount invested by individuals surged by 64.2%
According to the Korea Financial Investors Protections Foundation, the average amount invested in crypto by retail investors in South Korea hovers at around $6,100 and is up nearly two-fold since 2018 amongst investors in their 40s and 50s.
In a survey conducted across South Korea‘s six largest cities targeting investors aged 25 to 64 years old, the Korea Financial Investors Foundation found that the number of investors who are now committed in the crypto market has increased from 6.4 percent to 7.4 percent and the average amount invested in crypto by individual investors surged by 64.2 percent in the past 12 months.
Joseph Young too mentioned the same in his tweet
It’s the second such survey that the non-profit organization has carried out. For 2017, the KFIPF found that cryptocurrency investors on the Korean Peninsula spent an average of approximately $3,660 on digital assets.
Distinctively, the report claims that South Koreans in their 50s were most likely to buy cryptocurrency assets in 2018. That was followed by people in their 30s and 40s. This is a really startling figure as cryptocurrency investment is usually considered an investment tool used by the millennials and younger people.
South Korea is the only nation were investing in cryptocurrencies is truly mass market. Housewives, grandparents, millennials, boomers — people from every age group — have invested in a cryptocurrency. While people in other countries may be hesitant to take the leap on something so new and unproven, South Korea has a track record for quick adoption of new tech offerings — even ones that are truly culture-changing.
Last year, South Korea was the third largest market for Bitcoin trading and the largest market for Ether trading in the world (it accounted for at least 35 percent of Ether’s global trading volume). The country has also been quick to adopt the tech powering such currencies.
With the kind of revolution, South Korea is witnessing it wouldn’t be wrong to say that the country is definitely paving a roadmap for the world to follow. It would be great to see which other countries follow the footstep of South Korea
Will other countries too will show the same rise in investment in cryptos as South Korea? Do let us know your views on the same.