Why South Korea Dominates the World in Cryptocurrency Trading

South Korea

OK, lets face the fact that not ALL crypto trading is centered in the US. I know, I know, there are other countries in the world and that can be hard to fathom. But since well over 30% of cryptocurrency trading happens to come from South Korea (with just 1% of the world’s population), it seems we should probably pay attention. So, with that, remember the name Simon Soojoon Kim who is head of HASHED, South Korea’s biggest blockchain and cryptocurrency fund (and NO, he is NOT a South Korean Olympic curler). Rather, he and his Hashed partners have over $3 billion involved in the crypto space. So, if you want to gain some very good insight to what is happening in the “real other” world take a good look. Yeah, the US is sort of behind the curve.
(Bill Taylor/Founding Editor)


“When I first started getting interested in blockchain and cryptocurrencies 8 months ago, I would watch the wild swings of the market on CoinMarketCap every day. When I noticed a particular coin moving sharply in one direction or the other, I would try and figure out why. The answer 9 times out of 10: heavy trading in South Korea. 

South Korea is responsible for 30% of all cryptocurrency trading, despite representing less than 1% of the world’s population. When I decided to go on this crazy Asian cryptocurrency expedition, one of my goals was to go to South Korea to try and understand exactly what the hell was going over there. Well, two days after arriving in Seoul I somehow found myself taking shots of some type of clear Chinese liquor with Simon Seojoon Kim – CEO of Hashed – South Korea’s largest cryptocurrency and blockchain investment fund. Simon, along with Hashed partners, Jinwoo Park and Alex Shin, were able to lay out for me exactly what makes South Korea the most active cryptocurrency market in the world.

Hashed

Simon was one of South Korea’s earliest Ethereum investors and is a veteran of several startups. In 2017he founded Hashed alongside a team of serial entrepreneurs and software engineers. To date, Hashed has invested in 30 early-stage blockchain projects and is accelerating 4 of them. Two of the projects in Hashed’s accelerator program, Icon and Mediblock, are among the cryptocurrency top 100 with a combined market capitalization of over $3 Billion dollars.

Basically, I couldn’t have found more qualified people to break down exactly why cryptocurrencies are more popular in South Korea than anywhere else in the world. According to Simon and the Hashed guys, it comes down to culture, demographics, politics and a bit of timing…”


Full Story at Cryptoambit.com