More than a quarter of the South Koreans between the ages of 20 and 50 have digital currency such as Bitcoin. On average, Crypto is 14% of their total financial capacity. This is apparent from the report “Virtual investment trends of the 2050 generation” from the Hana Institute of Finance, which was published on Sunday.

Feertigers in particular are active: 31% of them invest in crypto. People in their thirties follow with 28% and also 25% of the fifties have digital assets.

Crypto as a power building and pension provision

Almost 80% of the fifties say they use Crypto to build power. More than half see it as a means to prepare for retirement.

Important motives are the growth potential of crypto, the spreading of risks and structured savings strategies. Investment behavior also changes: More investors opt for regular purchases and medium -term investments.

South Koreans want to invest more in digital assets

Seven out of ten respondents are open to expansion of their crypto investments. Of them, 42% only want to invest more if banks become actively involved. For 35%, strong legislation is a condition for increasing trust.

Bitcoin is still the most popular choice: six in ten investors have BTC. Yet more and more people also step into Altcoins and Stablecoins. NFTs and security tokens remain niche for the time being.

Use of information sources is becoming more professional

The way in which investors collect information changes quickly. Word of mouth makes way for official trading platforms and analysis websites. This indicates a growing need for reliable data.

“Virtual assets are given a permanent place in investment portfolios,” says Yoon Sun-Young of the HANA Financial Research Institute. “Investors hope for clear regulations and involvement of banks.”

Limitations and worries inhibit greater adoption

A frequent frustration is that investors are allowed to link only one bank account to crypto fairs. Seven in ten would rather use their regular bank if that restriction disappears.

Market volatility remains a concern for 56% of investors. There are also concerns about fraud and safety of trade fairs, especially with whom doubts about further investments.

Young Koreans see Crypto as the last resort

According to Eli Ilha Yune, Chief Product Officer at Anzaetek, the rise of crypto in South Korea is not due to trust in blockchain technology. During the German blockchain week he said that many young people invest out of pure financial necessity.

Youth unemployment in South Korea is 6.6%, more than double the national average. Many are unemployed, cannot buy a house and see few opportunities in shares. “Crypto feels the only feasible option for them,” said Yune. “Some understand the technology, but many invest without insight into the infrastructure.”

Source: https://newsbit.nl/steeds-meer-zuid-koreanen-beleggen-in-crypto-zo-blijkt-uit-nieuw-onderzoek/



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