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Survey Report: South Korean averagely invests $6,000 in Cryptocurrency

A survey report that was published on Monday shows that the average number of South Korean virtual currency traders almost invests $6,000 on virtual currency in the previous year 2018. The report was published in a local regular news institution Arirang Daily News on April 20. The virtual currency market in 2018 was all bearish and closed in a dive around price $20,000 per Bitcoin to $3,200 in the middle of the December.

Reporting the data that comes out from a 2018 survey report regulated by the Korea Financial Investors Protection Foundation, Arirang pointed out that out of 2,500 adults, total 7.4% of every 2,500 adults, which are almost 185 people traded in virtual currency.

The following studies of the data portrayed that 7.4% showed a 1% gain from 2017 statistics. Also, the average trading per person raised by 64%, reaching $6,097 while the most notable investors were people almost at the age of 50s who have broken up a trade of $11,000 each, succeeds by those who were in their 30s and 40s.

The only drawback from the survey conducted was there would be that non-traded interviewees are not really like to alter their thinking mainly because of two reasons. Firstly, the high of alternations of currencies and then the chances of losing their money to hackers, as displayed through the hack of local exchange named Zaif previous year.

This doesn’t cover the fact that many South Korean people already put their confidence in the virtual currency market to trade right in between of the bear market. The present bullish reversal of crypto market will possibly have made them some profit which is a nice thing for remaining steady when most retail traders were quitting. As per the charts that have shown time again and again, although, no one can predict about the next direction of the crypto value wave.

 

About Arushi Dubey

Arushi Dubey is a student of Bachelor in Arts( Psychology). She is pursuing Psychology in arts with English literature and French Language. She is well versed in the English language. She is good at expressing her thoughts into words. She is still getting more and more trained in gathering knowledge related to Crypto Currencies and expressing them.

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