40% of the young population of South Korea is interested in cryptocurrency

40% of the young population of South Korea is interested in cryptocurrency

The Korean Central Bank (BOK) published the results of a nationwide survey on the attitude of the inhabitants of the country cryptocurrencies. 011 interviewed 25 people from different regions of the country aged 19 years and older.

In Korea Times reported on the results of this poll:

“40% of young people want to own cryptocurrencies. South Koreans aged 20 to 30 years is familiar with cryptocurrencies and are ready to invest amid the recent fascination with a new type of digital money.”

The survey also showed that the higher the income, the higher the awareness of the cryptocurrency. However, people with low income (less than 20 million won$18 600 per year) have shown great interest in acquiring cryptocurrency.

Meanwhile, only 5.2% of respondents own cryptocurrency, and most of those respondents over 30 years old. 86,7% believe cryptocurrency is a good investment. Willingness to participate in transactions with cryptocurrencies is higher in young people under the age of 20 years (24.2 per cent), compared with respondents aged 30 years (20.1 per cent).

“Only 5.7% of respondents aged 60 years and 2.2% over the age of 70 years heard of digital currencies,” reports news channel. “Older people also support the new currency of 6.8% among those who are 60 years and 8.3% – who are over 70”.

However, the leadership of the Central Bank of Korea has repeatedly stated that it does not recognize the cryptocurrency as money. Last week at a meeting of the Finance Committee of the National Assembly, the Bank’s Governor Lee Ju-Yol said:

“I think virtual currency is too far from being able to have a monetary nature … I think it is right to consider it as an asset or a commodity.”

Referring to the recent G20 meeting, the Governor added: “We agreed that the Central banks will conduct research and monitoring of virtual currency, but Korea takes the same position.”

However, South Korea is home to some of the biggest cryptocurrency exchanges in the world: Upbit and Bithumb. Their 24-hour trading volume of $952 million and $582 million, respectively

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