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South Korea\u2019s \u201ccrypto boom\u201d is a term that the local media has widely adopted to refer to the current hype seen across the Asian nation. In fact, a recent study unveiled a rising trend in the number of South Koreans making small-scale crypto investments.<\/strong><\/p>\n According to the \u201cVirtual Currency App Market Analysis\u201d research made by big data firm IGA Works, quoted by Edaily<\/a>, almost 60% of the newest crypto investors in the country are aged 20-30. Remarkably, such a segment of traders often prefers to allocate \u201csmaller amounts\u201d of money into cryptos, specifically up to $100.<\/p>\n But the study went more in-depth and clarified that South Korean crypto investors aged 20 through 30 are looking for bitcoin (BTC<\/a>) and \u201ctop 10-by-market-cap altcoins\u201d investments.<\/p>\n A trader identified just as \u201cMr. A\u201d claimed that he allocates around 100,000 Korean won ($88) every month from his payday on BTC<\/a> and such altcoins.<\/p>\n IGA Works says that the number of monthly cryptocurrency app users crossed the three million thresholds in February \u201cfor the first time.\u201d That said, the firm believes such a figure is a milestone because fears of stricter regulations on domestic exchanges are not pushing away the investors.<\/p>\n Still, experts quoted by Edaily think that such a trend of making small-scale investments in cryptos is tied to the massive warnings on allocating money into cryptos.<\/p>\n Specifically, the ones who warn against investing lots of money into cryptocurrencies \u201camid the high volatility that bull market has brought.\u201d<\/p>\n <\/ins> <\/ins> <\/p>\n But the crypto fever remains among the South Koreans. As Bitcoin.com News reported<\/a> in early March, domestic crypto investors transacted with around $7 billion per day in the period ranging from January 1 to February 25, 2021. Also, data claimed 42% of the average volume was traded on the KOSPI stock exchange.<\/p>\n The study was compiled by Kim Byeong-wook, a parliamentary member of the Democratic Party, extracting data from Bithumb, Upbit, Korbit, and Coinone, the most prominent regional crypto exchanges.<\/p>\nNew Crypto Investors Seem Unafraid of Strict Regulations<\/h2>\n
South Korean Crypto Investors Transacted Over $7 Billion Just in Two Months<\/h2>\n