More South Koreans are buying crypto than ever before and spending more fiat to do so

More South Koreans are buying cryptocurrency than ever before and spending more fiat to do so, local daily news network Arirang Daily News reported April 20.

Referencing the results of a December 2018 survey from nonprofit organization the Korea Financial Investors Protection Foundation, Arirang revealed 7.4% of the 2,500 adults surveyed said they had bought cryptocurrency.

That figure was up 1% on the year before, despite the industry facing hurdles locally in the form of shifting regulation and various exchange hacks.

Not only the number of purchasers had changed: out of those who now owned crypto, many were buying more of it than before.

Compared to 2017, the average investment per person shot up 64% to over $6,000, Arirang said.

According to the survey, it was older investors who were the most common crypto buyers — those in their 50s, followed by 30-40-year-olds.

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