01.04.2021
Despite the popularity of cryptocurrencies in South Korea, young people prefer to invest small amounts in the market. On average, citizens of a country between the ages of 20 and 30 invest up to $ 100 in crypto assets.
Almost 60% of cryptocurrency investors in the country are citizens between the ages of 20 and 30, according to IGA Works’ Virtual Currency Application Market Analysis. At the same time, this segment of users prefers to invest in cryptocurrency “small amounts” within $ 100.
South Korean cryptocurrency investors typically invest in BTC and “the top ten altcoins by market cap.” IGA Works reports that the number of monthly users of cryptocurrency applications in February exceeded the three million threshold for the first time.
Experts believe that the trend of small investments in cryptocurrency is associated with massive warnings about the risks of such investments from regulators. Recall that last spring, South Korea passed a bill to regulate cryptocurrencies, and at the beginning of this year it approved an income tax on cryptocurrencies.
Recently, the UK financial regulator also conducted research on young people’s investment in cryptocurrencies. According to the FCA, “the thrill of investing” and “status based on a sense of ownership” are encouraging young people to invest in cryptocurrency and forex markets.
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