The Hana Bank Institute of Finance asked a thousand who have accounts in the banks of South Koreans aged 20 to 50 years about the experience of investing in virtual assets.

It turned out that more than a quarter of the respondents own digital assets, and 14% of the financial portfolio is allocated for investments in cryptocurrencies. The leaders in cryptocations have become people aged about 40 years (31%), they are followed by 30-year-olds (28%), then people over 50 years old (25%). 78% of respondents from the latter category said that they use cryptocurrency as a tool for maintaining accumulated funds, and 53% said that investment in crypto activists helps prepare for retirement.

70% of the survey participants are interested in expanding their crypto investments. 42% of respondents are ready to invest more money in cryptocurrencies if more traditional financial companies come to the cryptocurrency. 35% of the South Koreans stated that their trust in the cryptor will grow if the authorities establish clear rules for regulating the market and provide legal protection of investors.

The most preferred cryptocurrency among South Korean investors is Bitcoin – it is bought by six out of ten investors. As experience in crypto, investors begin to invest in altcoins, stablcoins, non-replaced tokens (NFT) and tokens-joints (STO).

56% of the respondents expressed fears about the volatility of the crypto (56%). However, most often, local investors are in the restrictions, which is due to which users cannot bind several bank accounts to cryptocurrencies. The unemployment among young people in South Korea has become a key factor encouraging to invest in cryptocurrencies, the authors of the study said.

In May, the Financial Service Commission of South Korea (FSC) allowed local companies to sell digital assets – since December 2017 it was prohibited. Last year, local authorities tightened the requirements for suppliers of virtual assets services (VASP), performing international operations.