A brand new survey has discovered that over half of South Korean adults have beforehand traded or at present commerce crypto.
The survey was carried out by the Korea Monetary Client Safety Basis (KFCPF), the South Korean information company Yonhap reported on April 22.
Half of South Koreans Now Buying and selling Crypto, Survey Finds
The KFCPF spoke to 2,500 women and men aged 19 to 69. Respondents have been all residents of Seoul, Gyeonggi Province, and 6 different metropolitan areas.
The survey additionally discovered that 52% of respondents stated they’d “made a revenue” by way of their crypto investments.
And whereas over three-quarters of the respondents stated they’d traded or at present maintain Bitcoin (BTC), the survey confirmed that South Koreans are additionally altcoin-keen.
On common, respondents stated they maintain or have traded greater than three varieties of coin. Bitcoin took first place within the recognition stakes with 76%.
Following behind have been Ethereum (ETH) with 52.8%, XRP with 32.2%, Dogecoin (DOGE) with 24.6%, and Solana (SOL) with 14.7%.
Many of the respondents stated their crypto buys have been a type of funding. Nevertheless, a big minority stated they have been additionally motivated by “curiosity about cryptoassets.”
A a lot smaller minority nonetheless stated they’d purchased crypto to entry “particular providers” or “use in transactions instead of fiat.”
Most individuals stated they’d made income underneath the ten million received ($7,000) mark, with the bulk additionally saying they’d bought their cash lower than a 12 months after shopping for them.
The information company remarked that “short-term, small-sum investments” accounted for almost all of retail exercise within the South Korean crypto market.
A rising wave of unlawful high-interest lending in South Korea is leaving younger debtors trapped in cycles of debt and worry.https://t.co/QPbmXGTL1r
— The Korea Herald 코리아헤럴드 (@TheKoreaHerald) April 22, 2025
Scams and Hacks – Taking Their Toll?
Nevertheless, one in 5 of the crypto merchants stated they’d skilled monetary losses “associated to cryptoassets” from incidents resembling crypto alternate hacks, bankruptcies, and outages.
The responses additionally confirmed that a lot of South Korean buyers have fallen for crypto scams.
Forty-five p.c of respondents stated they’d been duped by “false funding data” on crypto “studying rooms.”
Customs company to crack down on country-of-origin fraud in US exportshttps://t.co/Qb0Hy4DUTI
— The Korea Occasions (@koreatimescokr) April 21, 2025
In South Korea, this time period refers to open, crypto-themed chatrooms on the Telegram and KakaoTalk chat apps.
A 3rd of respondents additionally stated they’d been duped into investing in pretend cryptoassets and unlawful crypto exchanges.
The overwhelming majority of those individuals (67.7%) stated they “didn’t take any motion after struggling injury” by the hands of crypto scammers.
Earlier this week, the Central Financial institution claimed that residents held some $73.4 billion value of crypto in alternate wallets on the finish of 2024.
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