Adam James · March 11, 2018 · 1:00 pm
While most people associate cryptocurrency investment with the younger half of the generational spectrum, reports have shown that seniors in South Korea are going significantly harder in the digital paint than younger investors.
Respect your elders
According to a survey of 2,530 adults by the Korea Financial Investors Protection Foundation conducted last December, older investors are getting involved in cryptocurrency much more aggressively than younger investors — though the latter is more active when it comes to buying and selling.
People in their 60s invested larger amounts than any other age demographic, totaling 6.59 million Korean Won — or $6,194 USD. “The older the investor, the larger the investment,” Kwon Soon-chae, told Korea Joongang Daily.
However, senior analyst at the Korea Financial Investors Protection Foundation is worried that older investors don’t really understand what they’re getting themselves into. Said Soon-chae:
There’s a need for older investors to not lose their retirement savings on cryptocurrency investments.
The survey also revealed that roughly 23 percent of South Koreans in their 20s have experience in buying cryptocurrency, while people in their 30s aren’t far behind at 19 percent. The likelihood of a South Korean in his or her 40s investing in cryptocurrency, meanwhile, was 12 percent, while someone in their 50s was only 8 percent.
In regards to investment size, South Koreans