Above 7 percent of South Korean investors polled own crypto comprising of bitcoin, showing a 1 percent point increase as compared to the previous year.
It’s broadly referred that young generation fuel a significant part of the interest in crypto. However, it’s Gen X-ers that are emptying the most assets into this domain in the nation.
The survey was conducted by the Korea Financial Investors Protections Foundation at year-end 2018, which solicited 2,500 South Koreans among the ages of 25 to 64 all over Seoul and five other of the nation’s greatest cities.
As indicated by a survey revealed by Arirang TV, bitcoin is ending up increasingly prevalent among South Korean investors.
Results uncover that 7.4% of South Koreans surveyed claim crypto, which is up from 6.4% in the earlier year. The average size of the allocation is generally $6,100. It indicates a 64% expansion over the previous year.
South Koreans in the age of ’50s are enrolling an average of $11,000 into crypto as per the survey. It is near double the average sum and is trailed by investors in their 40’s and 30’s. It likewise demonstrates a readiness among South Koreans close to retirement to put resources into risk assets, notwithstanding amid crypto winter.
On the flip side, there are also obstacles to more extensive scale appropriation in the nation. South Korea was home to amongst the most exceedingly terrible hacks in crypto.
Bithumb a month ago endured a security violation as per which $20 million was stolen. A year ago, $30 million worth of crypto was also taken from investors on a similar exchange in a huge hack.
Additionally, ICOs, are prohibited in South Korea to save investors from illegal tax avoidance related tricks.