South Korea: 20 Year Olds “Most Active” in Cryptocurrency Investment

South Korean news agency, Yonhap, has reported that according to a recent survey, people in their 20s are the front-runners in cryptocurrency investment. The results are not surprising – younger generations from all around the world prefer investing in this new industry rather than stocks and bonds.

Korea Financial Investors Protection Foundation surveyed 2,530 people, between the ages of 25 and 64, and found that 22.7% of 20-somethings bought cryptocurrencies. They were followed by people in their 30s by 19.3%, 40s by 12%, 60s by 10.5% and 50s by 8.2%.

However, 60-year-olds were the ones who invested the largest amount of money in cryptocurrencies with an average total of 6.58 million won ($6,119). 50, 40, 30 and 20 year olds invested 6.28 million won ($5,840), 3.99 million won, 3.73 million won ($3,710) and 29.3 million won ($2,724) respectively. Altogether, 70.2% bought cryptocurrencies as a means of investment, while 34.1% bought it to pay for goods and services.

Other Surveys on Cryptocurrency Adopters

Apart from South Korea, Venture capital company, Blockchain Capital, surveyed over 2,000 Americans from ages 18-to-34 in Nov. 2017. The results showed that 30% “would rather own $1,000 worth of Bitcoin than $1,000 of government bonds or stocks”, but only 2% of them owned cryptocurrency currently or in the past. Blockchain Capital’s managing director, Spence Bogart, said, “the results of the survey reinforce our conviction in the massive opportunity that lies ahead for Bitcoin.” […]

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