One in five young Koreans is involved in cryptocurrency trading. Why can South Korea, a small country, achieve nationwide crypto enthusiasm?

For young Koreans, it's not just a candlestick chart; it's a gamble with their destiny.
Let's look at some astonishing data: the number of Koreans aged 20-39 holding cryptocurrencies reaches as high as 3.08 million, accounting for 23% of the national population.
Their online trading volume is even more remarkable. South Korea, with less than 1% of the world's population, once supported 20% of global Bitcoin trading volume.
Behind this is not a frenzy of investment but a desperate gamble driven by reality.
It's important to note that 90% of Korea's economic lifelines are controlled by conglomerates. Samsung, Hyundai, and other five major chaebols dominate nearly half of the GDP.
For young Koreans, failing to get into these conglomerates means a lifetime of struggle at the bottom.
But competition for these entry tickets is hellish. They study 16 hours a day from a young age, trying their best but still may not make it through the narrow gate.
Sky-high housing prices are equivalent to over a decade's worth of ordinary people's wages. Coupled with the distorted "full-tax housing" system, young people can't even afford to rent, only able to live in tiny pigeonholes.
Cryptocurrency, with its low barrier to entry and high volatility, gives young people an illusion of "getting rich overnight."
Some borrow high-interest loans, others mortgage their parents' retirement homes, and some even invest all their part-time wages.
This isn't greed; it's because there's no other way out.
Rather than saying Koreans love trading crypto, it's more like a helplessness to survive.
When social stratification makes effort cheap, cryptocurrencies become the "bubble" that seems to hold the most hope. This is not just a story from the crypto world but a tear of the times.
#韩国 #炒币是为了什么 $BTC ‌BTC