4 cryptocurrency investors out of 10 cryptocurrency investors expressed that they will keep on investing into cryptocurrencies even when taxes are levied on cryptocurrency trades. This shows that these people are seeing cryptocurrency as long-term investment means.
After a cryptocurrency exchange called Bithumb had carried out a ‘survey on trends of cryptocurrency investments’ on 2,507 cryptocurrency investors who are at least 20 years old, 42.8% respondents replied that they are investing into cryptocurrency to manage their money for long term.
27.1% of them replied that they are investing to make short-term profits while 13.1% and 10.5% of them replied that they are investing to gain experiences in investments and to prepare large sum of money for marriages and houses respectively.
It was shown that investors who are in their 50s (49.1%) showed highest percentage for long-term management of money as the reason of investment compared to investors who are in their 20s (30.8%), 30s (40.9%), and 40s (45.3%). On the contrary, investors who are in their early ages showed highest percentage for short-term profit as the reason of investment.
Especially 39.5% of respondents expressed that they will continue to invest into cryptocurrencies even when taxes such as transfer income taxes and others are levied on cryptocurrency trades. This percentage is about 11% higher than the survey that took place in December of 2017. Through this trend, Bithumb is seeing that there is an increasing number of investors who are recognizing cryptocurrencies as assets and are looking at them as means of investments.
On the other hand, 13.1% of them expressed that they will not make investments anymore if taxes are levied.
13.9% of investors expressed that they will reduce amount of their current investments by 20% while 11.9%, 9.8%, and 8.5% of investors expressed that they will reduce amounts by 40%, 60%, and 80% respectively. 4.4% of investors said that they will actually increase amount of their investments.
On the other hand, about 1 investor out of 3 investors (31.9%) is only investing into cryptocurrencies. 28.1% of them are investing into cryptocurrencies and stocks at the same time. Other investors are also making investments into cryptocurrencies and other areas at the same time such as savings (19.9%), real estate (12.3%), fund (4.9%), CMA and MMF (1.1%), Cloud funding (1.1%), and ELS and DLS (0.7%).
“As more countries centered on major advanced countries are looking at cryptocurrencies as assets more and more, South Korean investors’ understandings towards cryptocurrency investments are also becoming more mature.” said a representative for Bithumb. “As one of major cryptocurrency exchanges in South Korea, we are going to work hard to stabilize cryptocurrency trade culture in South Korea.”
This survey had taken place from the 30th of April until the 6th of May through Bithumb’s official communication channel called Bithumb Café. It had gathered responses from 2,507 cryptocurrency investors out of 2,923 respondents.
Staff Reporter Gil, Jaeshik | osolgil@etnews.com