Millennials invested 19 trillion won in crypto trade in 2021

Millennials, the major driver of last year’s boom in cryptocurrency trading, are reported to have deposited 19 trillion won into crypto exchanges based in Korea.

According to the sources submitted by the Financial Supervisory Service to Rep. Yoon Chang-hyun of the People Power Party on Wednesday, the total amount of money held by five major crypto exchanges in Korea, namely, Upbit, Bithumb, CoinOne, Cobit, and Gopax, is estimated to be 52.8155 trillion won, deposit received and cryptocurrency value translated into cash combined.

Of those, the amount deposited by people in their 20s and 30s is estimated to be 19.0461 trillion won, accounting for 36% of the entire deposited amount. People in their 20s have deposited 4.2425 trillion won, up 3.6426 trillion won from the previous year, and people in their 30s have deposited 14.8036 trillion won, marking an increase of 10.6639 trillion won.

People in their 40s are found to have deposited the largest amount in crypto exchanges, with 17.5394 trillion won, which is 33% of the entire deposited money. Investors in their 50s own 11.8860 trillion won, and people over 60 years old won 4.3440 trillion won.

Young adults aged less than 40 currently account for more than a half of crypto investors. The number of investors registered in the five major crypto exchanges is 5,319,533 (double-count included) as of earlier this year, and among those, people in their 20s are 2,462,795, and those in their 30s are 2,856,738, together accounting for 57.3% of the total number of crypto investors.


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