Crypto Market Highlights May 23, 2022 Crypto Market Highlights May 23, 2022
  • News
    • NFT News
    • Metaverse News
    • Bitcoin News
    • Ethereum News
    • Altcoin News
    • DeFi News
    • Blockchain News
    • Web3 News
    • Press Release
    • Hacks and Scams
    • Sponsored Post
  • Stories
    • Interviews
  • Market Analysis
  • Learn
    • Bitcoin
    • Ethereum
    • Cryptocurrency Exchange
    • NFTs
    • DeFi
    • Web3
    • Metaverse
    • Blockchain
    • Trading
    • Crypto Guide
    • Quizzes
  • Crypto Prices
  • Contact Us
Reading: Korean students say crypto transactions give them sleepless nights
Newsletter
Crypto Market Highlights May 23, 2022 Crypto Market Highlights May 23, 2022
[ccpw id="20060"]
Crypto Market Highlights May 23, 2022 Crypto Market Highlights May 23, 2022
  • News
    • NFT News
    • Metaverse News
    • Bitcoin News
    • Ethereum News
    • Altcoin News
    • DeFi News
    • Blockchain News
    • Web3 News
    • Press Release
    • Hacks and Scams
    • Sponsored Post
  • Stories
    • Interviews
  • Market Analysis
  • Learn
    • Bitcoin
    • Ethereum
    • Cryptocurrency Exchange
    • NFTs
    • DeFi
    • Web3
    • Metaverse
    • Blockchain
    • Trading
    • Crypto Guide
    • Quizzes
  • Crypto Prices
  • Contact Us
Reading: Korean students say crypto transactions give them sleepless nights
Newsletter
Crypto Market Highlights May 23, 2022 Crypto Market Highlights May 23, 2022
[ccpw id="20060"]
  • News
  • Stories
  • Market Analysis
  • Learn
  • Crypto Prices
  • Contact Us
Search
  • News
    • Altcoin News
    • Bitcoin News
    • Blockchain News
    • CBDC
    • Crypto Exchange News
    • Cryptocurrencies
    • DeFi News
    • Ethereum News
    • Hacks and Scams
    • Litecoin News
    • Metaverse News
    • NFT News
    • Press Release
    • Ripples News
    • Sponsored Post
    • Web3 News
  • Stories
    • Interviews
  • Market Analysis
  • Learn
    • Bitcoin
    • Blockchain
    • Crypto Guide
    • Cryptocurrency Exchange
    • DeFi
    • Ethereum
    • Metaverse
    • NFTs
    • Trading
    • Web3
    • Quizzes
  • Crypto Prices
  • Contact Us

Trending →

SOL Price Drop to $120 Looks Likely, But There’s a Silver Lining

By Rita Umukoro 11 hours ago

Bitcoin Surges: 3 Bold Signs Amid Conflict Fears

By Ezinne Ukaegbu 2 days ago

Russia Reports 70% of Crypto Miners Still Unregistered Despite New Laws

By Rita Umukoro 2 days ago

Coinbase to Allow USDC Stablecoin as Collateral in Futures Markets

By Rita Umukoro 3 days ago

XRP ETF: 3 Shocking Risks in Ripple’s 3iQ Launch

By Ezinne Ukaegbu 4 days ago
Follow US
© Coins Creed. All Rights Reserved.

Home » Korean students say crypto transactions give them sleepless nights

NewsOpinion

Korean students say crypto transactions give them sleepless nights

Bolaji M
Last updated: May 26, 2021 12:51 am
By Bolaji M
Share
3 Min Read
SHARE
Dream of living luxurious life has turned young koreans into crypto traders as a means of earning more than enough money to build their wealth but ended up with the exact opposite.
Korean students say crypto transactions  gives them sleepless night

In the past few years, some young adults in the country have turned to trading as they seek better opportunities in financial markets.

Contents
Dream of living luxurious life has turned young koreans into crypto traders as a means of earning more than enough money to build their wealth but ended up with the exact opposite.Crypto trading stressBuying the top

Crypto trading stress

A well-paying job remains a coveted dream for many, as beneath the shiny lights of Seoul’s Hongdae district lies a bitter reality—a weak job market, little overall economic growth, and the influence of family-owned conglomerates called ‘Chaebols.’

But trading, as it turns out, comes with its own set of troubles, a local survey found. Stress, insomnia, and other related psychological issues are just some of the things that college-going crypto hopefuls are encountering as the infamously volatile crypto market shows its fangs.

The survey—it interviewed 1,750 college students last week and found 23% actively invested in crypto—found out a staggering 68.3 percent of respondents ticked the ‘psychological side effects’ section, with over 33% stating they encountered ‘dramatic emotional ups and downs as the prices gyrated.

A section of the respondents said they had problems concentrating on daily tasks such as study and work, with some even suggesting (or convinced) that they suffered from an addiction to cryptocurrency trading.

Still others noted that maintaining daily routines had become difficult because of ‘too much stress’ and even cases of insomnia (a sleep disorder where you have trouble sleeping or maintaining sleep).

Buying the top

As for why they started investing, 25% of respondents said the crypto market makes it possible for one to start with small sums (compared to traditional trading which requires a relatively larger starting capital.)

52% of those investors said they were overall ‘positive’ about the growth of cryptocurrencies, with 33% adding the high investment return, 31% noting low barriers to entry, and 15% stating it could help overcome the ‘hierarchy of class’ as additional reasons.

The college kids put in 1.41 million won ($1,200) on average,  with 75% stating the money came from doing part-time work. However, only 40% reported making profits, while the others noted being in the dreaded loss zone, claiming to have lost 740,000 won ($650) on average.

Meanwhile, most investors said they jumped into the crypto scene only in the past three months—meaning most ended up buying the top.

TAGGED:cryptokoreans
Share This Article
Facebook Twitter Copy Link

You Might Also Like ↷

Yuga Labs Completes $450 Million Fundraising Campaign

Universal Music Group and Timberland Reveal Two Entertainment Projects Featuring the Bored Ape Yacht Club (BAYC)

November 14, 2021
Bitcoin gains about $1,500 in less than an hour on Aug. 26 after Fed Chair Jerome Powell's "uber dovish" speech

Bitcoin gains about $1,500 in less than an hour on Aug. 26 after Fed Chair Jerome Powell’s “uber dovish” speech

August 27, 2021
nott - Coinscreed Latest Bitcoin and Crypto Updates

Notcoin Price Forecast To $0.05 Despite Market Fluctuations

June 12, 2024
Privacy cryptocurrencies: Their benefits and their types

Privacy cryptocurrencies: Their benefits and their types

October 26, 2022
Coinscreed
Stay tuned for a blend of captivating content that not only informs but also inspires you to navigate the ever-evolving landscape of technology, marketing, and market trends!
Coinscreed
FacebookLike
TwitterFollow
InstagramFollow

All Rights Reserved. Coinscreed 2024.

adbanner
AdBlock Detected
Our site is an advertising supported site. Please whitelist to support our site.
Okay, I'll Whitelist