According to a newly released study on the global cryptocurrency market conditions, 8 percent of Americans own some kind of a digital currency. The research also outlines South Korea as one of the most prominent participants in the cryptocurrency field.
Almost 1 in 10 Americans Owns Cryptocurrencies
A recent study by white label solution provider Ibinex dubbed The Global Cryptocurrency Market Report, reveals that 8 percent of Americans own some sort of cryptocurrencies. The findings are quite impressive, given the fact that cryptocurrencies have only been on the market for the last 9 years.
Almost the same results are outlined for Europe where 9 percent of the population is in possession of a cryptocurrency.
21 percent of Americans are expected to own digital currencies in the future compared to 25 percent in Europe. According to the research, though, 18 percent of people in China own cryptocurrencies, despite the country’s nationwide ban.
According to the report, the highest cryptocurrency trading volumes in Europe are recorded in the UK, while in Asia – in Japan. Iran leads the charts in the Middle East while Argentina tops the South American market.
South Korea Stands Out
South Korea is standing out as one of the rapidly developing countries in the field of cryptocurrencies and blockchain-based technologies. Earlier this year, in an attempt to shed more regulatory clarity on the nascent industry, the country dedicated an exclusive blockchain division with the Financial Services Commission (FSC).
Ibinex’s report attests to the above, outlining the country as one of the most prominent participants in the market. According to the study, South Korea accounts for 12 percent of the global trading volumes as well as for 20 percent of all Bitcoin trades.
18.3 percent of the investors have put between 1 and 2 million won (a little less than US$900) into the market. The research also claims that 40 percent of Ethereum’s traffic comes from South Koreans.
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