South Korean Gen X'ers Pour $11000 Each on Average into Crypto: Poll

The survey was performed by the Korea Financial Investors Protections Foundation, which canvassed 2,500 South Koreans between the ages of 25 and 64 at year-end 2018 across Seoul and five other of the country’s biggest cities.

While this may be a reflection of older investors having a higher net worth, it also shows a willingness among South Koreans nearing retirement to invest in risk assets, even during crypto winter.

While the poll suggests that crypto is becoming more popular among South Koreans, there are hurdles to wider scale adoption in the country.

Of those polled, South Koreans who have not purchased crypto are turned off by the asset class because of a combination of market volatility and hacks.

Separately, South Korean crypto exchange Coinnest announced it was closing its doors amid a wave of scandals.

If South Korea listens to the calls from the likes of blockchain pioneer Vitalik Buterin to ease the regulatory noose around crypto, bitcoin’s popularity among retail investors could skyrocket.

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