Generation Y in South Korea is more inclined to invest in cryptocurrencies than other generations, according to a new report by the Bank of Korea.
They are not only interested, but also worried about missing out on this opportunity. Cryptocurrency trading is quite common in South Korea. The hype surrounding crypto money is growing and the number of people entering this market is increasing day by day.
It is not just young people who enter this market.. Cryptocurrency fever has spread to every age group in the country. We understand this with the results of the latest survey by local news agency Yonhap.. According to the results of the survey, it is revealed that the Y generation is leading the Bitcoin investments.. big economy. According to Citi analysts, approximately 12% of global BTC transactions are in South Korea.
Generation Y leads the crypto world in many countries
South Korea, according to exchanges in other countries, coins have higher prices. Aurélien Menant, CEO of Hong Kong’s Gatecoin Exchange, said: “The price in Japan and South Korea is higher due to local demand, people in these countries come here to get a better price.”
South Korea’s three largest cryptocurrency exchanges, Bithumb, Korbit, and Coinone, trade more than half of global XRP transactions as of the end of 2017 and also dominate Monero volume.
A Ripple cross-border payments trial between Japanese and South Korean banks in December saw the price of XRP surge over 70% in just 24 hours. The South Korean market has a similar impact on Monero trading.
Bank of Korea surveyed 2,500 people. 21.6% of respondents stated that they are interested in cryptocurrencies. Particularly, the interest of young people in their 20s and 30s is between 29% and 40%.. While the rate of those who want to invest in their 20s is 24.1%, the rate of those who want to invest in their 30s is around 20.1%.
People born in their 60s and 70s have less interest than young people.. Supporting this market is 6.8% of those born in the 60s, and 8.3% of those born in the 70s
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