{"id":3772,"date":"2021-05-25T19:43:24","date_gmt":"2021-05-25T18:43:24","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=3772"},"modified":"2021-05-26T00:51:22","modified_gmt":"2021-05-25T23:51:22","slug":"korean-students-say-crypto-transactions-gives-them-sleepless-night","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/korean-students-say-crypto-transactions-gives-them-sleepless-night\/","title":{"rendered":"Korean students say crypto transactions give them sleepless nights"},"content":{"rendered":"\n
Dream of living luxurious life has turned young koreans into crypto<\/a> traders as a means of earning more than enough money to build their wealth but ended up with the exact opposite.<\/h5>\n\n\n\n
\"Korean<\/figure>\n\n\n\n

In the past few years, some young adults in the country have turned to trading as they seek better opportunities in financial markets.<\/p>\n\n\n\n

Crypto trading stress<\/h2>\n\n\n\n

A well-paying job remains a coveted dream for many, as beneath the shiny lights of Seoul\u2019s Hongdae district lies a bitter reality\u2014a weak job market, little overall economic growth, and the influence of family-owned conglomerates called \u2018Chaebols.\u2019<\/p>\n\n\n\n

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.<\/p>\n\n\n\n

The survey\u2014it interviewed 1,750 college students last week and found 23% actively invested in crypto\u2014found out a staggering 68.3 percent of respondents ticked the \u2018psychological side effects\u2019 section, with over 33% stating they encountered \u2018dramatic emotional ups and downs as the prices gyrated.<\/p>\n\n\n\n

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.\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a><\/p>\n\n\n\n

Still others noted that maintaining daily routines had become difficult because of \u2018too much stress\u2019 and even cases of insomnia (a sleep disorder where you have trouble sleeping or maintaining sleep).<\/p>\n\n\n\n

Buying the top<\/strong><\/h2>\n\n\n\n

As for why<\/em> 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.)<\/p>\n\n\n\n

52% of those investors said they were overall \u2018positive\u2019 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 \u2018hierarchy of class\u2019 as additional reasons.<\/p>\n\n\n\n

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.<\/p>\n\n\n\n

Meanwhile, most investors said they jumped into the crypto scene only in the past three months\u2014meaning most ended up buying the top.<\/p>\n","protected":false},"excerpt":{"rendered":"

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. In the past few years, some young adults in the country have turned to trading as they seek better opportunities in financial markets. […]<\/p>\n","protected":false},"author":63,"featured_media":3773,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21,238],"tags":[132,391],"class_list":["post-3772","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-opinion","tag-crypto","tag-koreans"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/05\/timthumb-1.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/3772","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/63"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=3772"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/3772\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/3773"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=3772"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=3772"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=3772"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}