Investors in their 50s shine in cryptocurrency trading
[THE INVESTOR] Six out of 10 investors made a profit from cryptocurrency investments, a survey showed on April 17. The survey of 800 people -- conducted by Embrain from March 6-8 -- showed that 58.6 percent of the respondents made a profit while 34.2 percent lost money. Their average investment and returns were 5.41 million won (US$5,058) and 9.6 percent, respectively.
The largest group comprised those in their 50s who invested an average of 9.33 million won -- 4.5 times that of investors in their 20s. The biggest gainers were also those in their 50s with average returns of 17.9 percent. This compares with 15.3 percent recorded by investors in their 30s and 4.5 percent by those in their 20s.
Long-term investors of more than one year saw the highest returns of almost 30 percent while those who invested for less than three months saw a loss of 4.4 percent.
“It seems most investors who realized the future value of cryptocurrencies early on made a profit,” said an official at Bithumb, the country’s second-largest cryptocurrency platform. “Investors should invest in verified items with a long-term perspective and with spare money rather than making speculative investments.”
As for the motivation for investing in cryptocurrencies, 41 percent of the respondents cited curiosity, while 48.8 percent of the investors in their 50s said they do so on recommendations from friends and acquaintances.
By Park Ga-young (email@example.com)