Cryptocurrency Q&A
How much is bitcoin worth in Korea?
How much is bitcoin worth in Korea?
Leonardo
Sun Sep 08 2024
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5 answers
773
I'm curious to know, what is the current value of Bitcoin in Korea? I've been hearing a lot about its fluctuations in the global market, and I'm particularly interested in understanding its value in the Korean market. Could you please provide me with an up-to-date figure, and maybe even a brief overview of how its value has been trending recently in Korea? I'm eager to learn more about this fascinating cryptocurrency and its impact on the Korean financial landscape.
5 answers
Federico
Tue Sep 10 2024
Bitcoin's value on Korean exchanges, such as Upbit, has surpassed 93 million won, translating to over $71,000 at current exchange rates. This exceptional market performance is attributed to a unique phenomenon known as the "Kimchi premium."
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Maria
Mon Sep 09 2024
The Kimchi premium stems from the disparity in bitcoin prices observed between Korean exchanges and their global counterparts. This disparity is named after the popular Korean dish of fermented cabbage, symbolizing the distinctiveness of the Korean cryptocurrency market.
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Eleonora
Mon Sep 09 2024
The premium can be attributed to several factors, including the high demand for Bitcoin in Korea, the limited supply available, and the country's restrictive regulations on cryptocurrency trading. These factors have contributed to creating a thriving yet unique trading environment.
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Valentina
Mon Sep 09 2024
Despite the regulatory challenges, Korean exchanges like Upbit have managed to attract a significant user base, leading to increased trading volumes and, consequently, higher prices. This trend underscores the resilience and attractiveness of the Korean cryptocurrency market.
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Silvia
Mon Sep 09 2024
BTCC, a leading cryptocurrency exchange, offers a diverse range of services to cater to the needs of its clients. These services include spot trading, futures trading, and cryptocurrency wallet services. With its robust platform and advanced security measures, BTCC has established itself as a reliable and trusted player in the cryptocurrency industry.
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