"1 in 4 Adults in Korea Invests in Cryptocurrency"

One in four adults in Korea is reported to own cryptocurrency. Korea's cryptocurrency ownership rate of 25% is higher than that of the United States, which stands at 19%.

On the 12th, Hashed's think tank, Hashed Open Research (HOR), released a survey report titled 'Who are the Korean Cryptocurrency Investors?' revealing these findings. The survey targeted 2,000 adult internet users aged 20 to 60, and included questions about the size of cryptocurrency holdings per person, reasons for investment, whether they plan to increase their investments, the domestic and international exchanges they use and the amount deposited, whether they use decentralized exchanges (DEX), and how they store their cryptocurrency.

According to the survey, 25% (507 people) of all respondents are currently investing in cryptocurrency. This is higher than the 19% of adults in the United States who own cryptocurrency.

The report shows that 54% of those in their 30s have experience investing in cryptocurrency. This figure is 43% for those in their 40s and 38.8% for those in their 20s. Even among those in their 50s, a relatively higher age group, 33.2% have invested in cryptocurrency, and 19% of those in their 60s reported having investment experience.

The most common range for current cryptocurrency holdings was between 1 million KRW and 5 million KRW, with 25% of respondents falling into this category. Those holding less than 500,000 KRW accounted for 20.5%, while those with holdings between 5 million KRW and 10 million KRW, and between 10 million KRW and 50 million KRW, were 15.2% and 16.6%, respectively. Additionally, 3.6% of respondents reported holding more than 100 million KRW in cryptocurrency.

Among those not currently investing in cryptocurrency, 11.4% indicated they plan to invest in the future. This was particularly common among those in their 40s to 60s, who generally have more stable socioeconomic status and more disposable income. HOR analyzed that cryptocurrency investment could become more mainstream across all age groups in the future.

Of the 507 respondents who identified as cryptocurrency investors in Korea, 123 (24.5%) said they use overseas cryptocurrency exchanges or decentralized exchanges (DEX). Among respondents, 54% had deposited more than 20% of their cryptocurrency holdings in overseas exchanges or DEX. Notably, 5 out of 8 respondents holding more than 100 million KRW in cryptocurrency had deposited more than 50% of their assets in overseas exchanges or DEX.

Hashed Open Research analyzed that the barriers to entry for cryptocurrency investment are lower than those for stocks or real estate, and the potential for high returns is driving rapid mainstream adoption. More than half (51%) of cryptocurrency investors cited the potential for higher short-term returns compared to other assets as their reason for investing. Other reasons included recommendations from acquaintances (47%), ease of deposits and withdrawals (39%), and the ability to trade 24/7 (23%), all contributing to a well-facilitated investment environment. The main sources of investment funds for cryptocurrency investors were disposable income (64%) and earned income (57%).

A representative from Hashed Open Research stated, "The mainstreaming of cryptocurrency investment and the expansion of the investment base are clearly evident in this report, and it seems to be an irreversible trend of the times," emphasizing the need for Korea to quickly legislate cryptocurrency in line with the trend of institutionalization in various countries.

This survey was conducted through a mobile application targeting an open survey panel. The age composition of the panel followed the 2024 Statistics Korea data, with a margin of error of ±2.19%p and a confidence level of 95%.