Does South Korea have a crypto boom?

Cryptocurrency fever has swept South Korea. Around ten percent of South Korea’s population invested in cryptocurrencies when Bitcoin prices reached an all-time high in the first half of 2021 – up more than double from 2017, when the crypto boom first hit the country. Number of cryptocurrencies worldwide from 2013 to August 2023

Why should you invest in cryptocurrency in South Korea?

South Korea has long been an early adopter of new technology, and the culture is such that people are quick to embrace new technological innovations and opportunities. Cryptocurrencies are stateless investments that appeal to South Korean investors wary of the political climate and their proximity to the threat posed by North Korea.

Did South Korea become the world's third-largest crypto market in 2017?

Observers were fascinated by the speculative cryptomania that saw South Korea become the world’s third-largest crypto market in 2017.

Is cryptocurrencies legal in South Korea?

South Korea is one of them. In March 2020, the South Korean National Assembly passed new legislation that paved the way for the regulation and legalization of cryptocurrencies and crypto exchanges. This action was taken in recognition of the burgeoning growing cryptocurrency ecosystem even in the midst of the COVID-19 epidemic.