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S. Koreans in 50s most aggressive in cryptocurrency investment: survey

All Headlines 09:59 April 21, 2019

SEOUL, April 21 (Yonhap) -- South Koreans in their 50s were the most aggressive investor in digital currencies last year, a survey showed Sunday, with experts calling for a more cautious approach to the volatile investment destination.

According to the survey by the Korea Financial Investors Protection Foundation, of 2,530 people aged from 25 to 64, 7.4 percent were investing in digital currencies as of end-2018, up 1 percentage point from a year earlier.

The average investment came to 6.93 million won (US$6,097), soaring 64.2 percent from a year earlier when the figure came to 4.22 million won.

Investors in their 50s on average invested 12.17 million won, followed by those in their 40s and 30s with 8.06 million won and 5.9 million won, respectively. Those in their 20s also invested 3.99 million won on average, the survey showed.

The foundation said investors in their 50s became more aggressive, considering the average investment in the age group doubled from the 6.29 million won posted a year earlier.

"It seems that investors scooped up cybercurrencies in hopes of a rebound amid their price decrease," the foundation said.

Among the majority of respondents who are not engaged in cryptocurrencies, 73.1 percent claimed they do not intend to make investments in the future as well, citing security issues.

S. Koreans in 50s most aggressive in cryptocurrency investment: survey - 1

colin@yna.co.kr
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