South Korea | 2021

Cryptocurrency information about South Korea in 2021



of South Koreans
own cryptocurrency

How many cryptocurrencies owners are there in South Korea?

It is estimated that over 1.9 million people, 3.8% of South Korea’s total population, currently own cryptocurrency.

South Korea - Asia’s cryptocurrencies hub?

Bitcoin peer-to-peer trading activity in South Korea reached record highs of $218 million Korean Won in 2019. In addition, South Korea is home to cryptocurrencies exchange giants like Upbit, BitHumb and CoinOne.

Are South Koreans open to cryptocurrencies?

The average South Korean trader increased their cryptocurrencies holdings by 64.2% in 2018, investing more than $6000 on average, a two-fold increase from the last survey.

Cryptocurrencies are popular investments among South Korea’s young generation who see them as a path to prosperity in a context of persistently high unemployment. South Korea has long been an early adopter of new technology, and the culture is such that people are quick to embrace new technological innovations and opportunities. Cryptocurrencies are stateless investments that appeal to South Korean investors wary of the political climate and their proximity to the threat posed by North Korea.

“For young Koreans, cryptocurrency seems like a rare shot at prosperity,” an article on the online publication The Verge states. The same article quotes a 20-something journalist who opines that cryptocurrency investments are also a means for a largely homogenous and well-educated workforce to distinguish themselves from peers.

Cryptocurrencies's rising popularity in South Korea


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