Survey: South Korea’s bitcoin awareness higher than Japan and the United States

nRunaway Comment: Japan, the United States and South Korea are the world’s largest three bitcoin markets. Recently, there has been a survey of bitcoin’s recognition of local residents separately in these three regions. The results show that Koreans have a higher awareness of bitcoin than Japanese and Americans, and about 90% of respondents know bitcoin, but they do not know much about the blockchain and the number of South Korean cryptocurrencies is three The least in a country But in general, there is not much difference in the reason people in these areas buy bitcoin.n
nTranslation: Inan
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90% know bitcoinn
According to South Korean media reports, mobile survey specialist Dooit this week released the results of the “Bitcoin Cognition and Outlook” survey conducted in South Korea. The survey was conducted from December 1 to December 4, and targeted 3018 people aged 20 and over. According to the company, the sampling error range is ± 1.78% with a confidence level of 95%.n

Let’s take a look at the respondents’ familiarity with bitcoin. 44.1% of the respondents said “heard”, 35.1% said “know”, 10.8% said “more understanding” and the remaining 10% said “totally unknown.” Overall, the total number of respondents who heard of Bitcoin reached 90%.n
In terms of demographics, Bitcoin is the most popular among thirties. 29.8% of people in this age group admitted that they bought digital currency. In contrast, 26.3% of the 40th generation, 22.4% of the 20th generation and 23% of the 50th generations claimed to have bought bitcoins.n
South Korea is one of the largest crypto-currency markets. The won is currently the third-most traded currency in trading against other currencies, second only to the yen and the U.S. dollar. Bithumb, South Korea’s largest Bitcoin exchange, is currently the highest-volume Bitcoin transaction on all exchanges around the world.n
Bitcoin transactions in South Korea have outpaced Kosdaq’s (Korean version of the NASDAQ stock exchange). This situation has prompted its regulators to rush to regulate cryptocurrency. In addition, Kakao Talk, South Korea’s most popular chat application, recently merged with a cryptocurrency exchange called Upbit, which has over 110 cryptocurrencies. Kakao Talk has more than 200 million users and is installed on more than 95% of South Korea’s smartphones.n
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8% of people know the blockchainn
Although most respondents know what bitcoin is, few have heard of blockchain. Only 8% claim to know what the blockchain is and understand its relationship with bitcoin.n
When asked about the blockchain, most respondents (49.7%) admitted that they “did not know what it meant.”n
Some of them speculated on the technology. 18.5% of people think Bitcoin and the blockchain are “virtual currencies,” and 6.7% consider the blockchain to be “bitcoin-derived products.” Finally, 5.1% of the people mistakenly think Bitcoin exchanges are blockchain.n
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The reason for buying bitcoinn
Of all respondents, 26.1%, or 787, said they had already bought bitcoin. Unpaid respondents shared on Dooit’s various reasons for not buying, someone wrote: “Bitcoin is dangerous.” Others say:n
n”It’s not dangerous, it’s just too expensive, so I do not buy it.”n
nOf the respondents who bought bitcoin, 5.8% said they now own bitcoin, while 20.3% said they do not.n
Of the group of respondents, 48.3% bought bitcoin just because they were curious about digital currency. Another 23.3% said they bought Bitcoin for short-term profits and 15.6% for long-term investments. At the same time, 12.8% of the people bought bitcoin on the recommendation of others.n
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Compared with Japann


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Japan is currently the leader in the cryptocurrency market, with the yen accounting for the largest share of the Bitcoin market. Japan is also setting Bitcoin as the legal payment method for all goods and services in April. Since then, there has been a significant increase in Bitcoin adoption in Japan. We also recently reported a bitcoin survey of 10,000 respondents in Japan – 88% knew what bitcoin was, but only 4.7% bought bitcoin.n
Forty-two percent of Bitcoin buyers in Japan say they are buying because of their interest in digital currencies; this number is expected to grow in the future. 33% buy bitcoin because they think they can make a profit. 54% bought bitcoin for long-term investment and 42% used for short-term investment.n
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Compared with the United Statesn

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