Surveys Show South Korea Ahead of Japan and US in Bitcoin Awareness


Recent public surveys in Korea, Japan, and the US reveal different levels of bitcoin awareness and adoption in the three top bitcoin markets. The country with the strongest awareness has the fewest bitcoin exchanges and least volume of the three.

Also read: Japan Increases Lead – Approves Another Four New Cryptocurrency Exchanges

90% Know of Bitcoin

Mobile phone survey specialist Dooit released the results of its “Perception and Prospects for Bitcoin” survey taken in South Korea this week, local publications reported. The survey was conducted between December 1 and 4, with 3018 participants aged 20 or older. The sampling error range was ± 1.78% percentage points, giving it a 95% confidence level, according to the company.

Regarding respondents’ familiarity with bitcoin, 44.1% of those surveyed said, “I have heard the name.” 35.1% said “I know [it]” and 10.8% answered, “I know [it] well.” Meanwhile, 10% replied, “I do not know [it] at all.” Altogether, the number of respondents who have heard of bitcoin amounts to 90%.

In terms of demographics, bitcoin is most popular among respondents in their 30s. 29.8% of this age group admitted to having purchased the digital currency. By comparison, 26.3% in their 40s, 22.4% in their 20s, and 23% in their 50s claim to have experience in purchasing bitcoin.

South Korea is one of the largest cryptocurrency markets. The Korean won is currently the third most traded currency for bitcoin, behind only Japan and the U.S. The country’s largest bitcoin exchange Bithumb currently has the highest bitcoin trading volume out of all exchanges worldwide.

Bitcoin trading volume in the country has fully surpassed that of Kosdaq, the Korean version of the Nasdaq stock exchange. This revelation has prompted the regulators in the country to hurry to regulate the crypto market. In addition, the country’s most popular chat app, Kakao Talk, has recently integrated a cryptocurrency exchange called Upbit with over 110 cryptocurrencies. Kakao Talk has over 200 million users and is installed on over 95% of smartphones in South Korea.

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