Crypto Culture Surges: Survey Finds Majority Of South Koreans Have Traded Digital Currency

According to a survey by Hana Bank’s Hana Financial Research Institute, half of adults in their 20s through 50s have tried crypto, and more than a quarter still hold them.

The study finds that 51% of people in that age range have some experience investing in crypto, while 27% currently own virtual assets. On average, these holdings make up 14% of their financial portfolios—about 13  million won.

Age And Gender Gap

The breakdown by age shows the biggest group of investors are in their 40s at 31%, followed by those in their 30s at 28%, people in their 50s at 25%, and the youngest group, those in their 20s, at 17%.

Men still lead by a wide margin, accounting for 67% of crypto investors compared with 33% women, but female participation has surged since 2024.

Investment Patterns And Portfolios

Crypto investors tend to be more active overall. Their average financial assets reach 96.79  million won—1.3 times the 75.67  million won held by non‑investors.

Among those who have ever bought virtual assets, 38% describe themselves as having an aggressive approach, versus just 20% in the general investing public.

They also juggle more products—7.3 different investment vehicles on average compared with 4.3 for non‑crypto investors—and 73% of them hold domestic stocks.

Trading ETFs and ISAs is 1.5 times more common among virtual asset holders than among others.

Most people jumped in during the Bitcoin boom of 2020, with over 60% saying they began buying crypto that year.

Three‑quarters of investors started with less than 3  million won, but today 42% have pumped more than 10  million won into virtual assets over time. That shift shows a growing willingness to scale up stakes once confidence sets in.

Fear of missing out used to drive 57% of new investors, but that’s fallen to 34%. Meanwhile, those citing “new investment experiences,” growth potential or portfolio balance rose from 26% to 44%.

When hunting for tips, 39% now lean on friends and family (down from 44%), while official exchange sites attract 24% (up from 15%) and analysis platforms draw 19% (up from 10%).

In the early days, 89% of investors focused only on Bitcoin. Over time, more branch out into altcoins, stablecoins and even NFTs. Most use more than one exchange—7 out of 10 trade on Upbit, which links to K Bank.

Features like trading volume or UI matter less now; bank linkage ease (7→11%) and promotions (2→10%) rank higher when choosing an exchange. If exchanges lifted their one‑bank‑only rule, 70% say they’d stick with their main bank rather than open a new one for perks.

Featured image from Unsplash, chart from TradingView