South Korean Crypto Retail Investor Survey: Nearly Half Increased Stock Holdings; 95% Say They’ll Return Once the Market Recovers
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South Korean Crypto Retail Investor Survey: Nearly Half Increased Stock Holdings; 95% Say They’ll Return Once the Market Recovers
Money has temporarily paused in the stock market and has not exited.
Navigating Web3 tides with focused insightsAuthor: Tony Chung (Researcher at Blockmedia)
Translated and edited by TechFlow
TechFlow Introduction: In May, Blockmedia conducted a survey of 388 active Korean crypto investors to address a frequently debated question: Have Korean retail investors shifted their money from crypto to the stock market? The answer is no. While 45.3% did increase their stock positions—4.6 times more than those who reduced them—94.9% stated they would reincrease their crypto allocations as soon as market conditions improve. Money has temporarily paused in equities—not exited crypto entirely.
About This Survey
This report is based on an online questionnaire administered by Blockmedia between May 18 and 24, 2026, among its subscribed users, yielding 388 valid responses. This cohort does not represent a cross-section of the general Korean public but rather a group of highly active investors who directly hold and trade digital assets.
The value of this sample lies not in its size but in its profile. These respondents hold crypto, actively trade, move liquidity across platforms, and personally navigate fiat on- and off-ramps. As such, this survey reveals how money is currently flowing within Korea’s digital asset market.
The report addresses three core questions: where Korean investors are allocating funds now; which products and themes are capturing their attention; and through which channels they obtain information. Its aim is to clarify current capital flows—and identify the conditions under which capital may return to crypto during market recovery.
I. Who’s Investing? Investors Aged 30–40 Make Up Nearly 60%; Older Investors Hold Larger Positions
Investors aged 30–39 account for 34.5%—the largest group—followed by those aged 40–49 at 24.0%. Those aged 20–29 comprise 18.6%, and those aged 50–59 make up 15.7%. The youngest and oldest age brackets are comparatively small: minors and younger account for only 0.3%, while those aged 60+ constitute 7.0%.
This shows that active Korean crypto investors are not concentrated solely among the young. Over half of respondents fall within the 30–49 age range—a demographic typically possessing both stable income and investment experience. Gender-wise, the sample skews male: 77.3% male, 22.7% female.
Caption: Age and gender distribution of respondents (n = 388). Ages 30–39 account for 34.5%—the largest group—while ages 40–49 account for 24.0%, collectively representing 58.5%. Males account for 77.3%, females for 22.7%.
Source: Blockmedia
A second pattern is that asset holdings rise with age. Across the full sample, 18.3% hold over ₩100 million (~$66,700) in digital assets; among those aged 60+, this figure jumps to 51.9%.
Older investors aren’t merely present—they constitute a significant share of high-value holders. This doesn’t imply focus should be placed exclusively on one age group; rather, it reflects a broader trend in the digital asset market: older individuals tend to accumulate larger asset bases and possess greater investable capital.
Caption: Asset size by age group—older investors hold larger positions. Among those aged 60+, 51.9% hold over $66,700—nearly three times the overall sample rate of 18.3%.
Source: Blockmedia
II. Holdings Concentrated in Mid-Range; Profits/Losses Sharply Polarized
Account sizes cluster in the mid-range. The single largest bracket is $6,667–$33,333, accounting for 23.2%; other ranges are relatively evenly distributed above and below. Accounts under $1,000 represent just 9.4%, while 18.3% hold over $66,700.
Caption: Portfolio size and 2026 returns distribution. Largest portfolio bracket: $6,667–$33,333 (23.2%). On returns: 14.6% lost over half their principal; ~44% are currently in loss; only 14.3% gained over 50%.
Source: Blockmedia
Returns are sharply bifurcated. The 10%–50% gain bracket is the largest single group—but approximately 44% of respondents are currently in loss, with 14.6% having lost over half their principal. Conversely, only 14.3% achieved gains exceeding 50%.
Nonetheless, 94.9% said they would rebuy digital assets upon market recovery. Caution given current P&L is understandable—but most prefer to wait for recovery rather than exit permanently.
This same sentiment appears in investment tenure and asset allocation. Investors with five or more years’ experience form the largest single group (30.2%), and roughly 29% allocate over half their total assets to digital assets. This sample closely resembles experienced, deeply engaged investors—not casual observers.
Caption: Investment tenure and digital asset allocation as % of total assets. Investors with ≥5 years’ experience: 30.2% (largest group); ~29% hold digital assets comprising >50% of total assets.
Source: Blockmedia
III. Why Enter? Driven by Price Expectations—but Anchored in BTC & Stablecoins
The primary reason for entering the digital asset market is expected price appreciation—cited by 67.1%, far ahead of all other options. Yet motivation extends beyond price alone. Valuing decentralization (29.6%), interest in blockchain technology (29.6%), and seeking additional income (29.6%) each ranked similarly—indicating that technical interest and practical utility also drive participation alongside return expectations.
Caption: Entry motivations and top-held assets. “Expected price appreciation” leads at 67.1%. BTC ranks first (36.1%); USDT (16.7%) ranks second—not ETH (13.7%).
Source: Blockmedia
In terms of holdings, Bitcoin leads at 36.1%. Notably, the second-largest holding isn’t Ethereum—it’s USDT (16.7%). A stablecoin ranking this high signals that respondents hold crypto not only for speculation but also to manage volatility, park capital on the sidelines, and meet exchange needs.
IV. Stablecoins: Primary Channel for Offshore Trading & USD Exposure
Stablecoins are already familiar tools for this group. 78.4% currently hold stablecoins; including those who have held them previously, over 91% have held stablecoins at least once—only 8.6% have never used them.
Caption: Stablecoin ownership status and purchase motivations. 78.4% currently hold stablecoins; top use case: “accessing offshore exchanges” (50.1%), followed by volatility mitigation (39.8%) and USD exposure (31.0%).
Source: Blockmedia
Use cases further clarify stablecoins’ role. The most common purpose is accessing offshore exchanges—used by 50.1%. For Korean investors, stablecoins serve as the key conduit to offshore liquidity and USD-denominated assets.
Other major uses include parking capital outside volatility (39.8%), gaining USD exposure (31.0%), and payments/remittances (30.7%).
Additionally, 9.4% use stablecoins for “kimchi premium” arbitrage—the price differential between domestic and overseas markets. This illustrates that in Korea, stablecoins aren’t just stores of value but are actively deployed for cross-market capital movement and arbitrage.
V. Exchange Landscape: Upbit & Bithumb Dominate—but Offshore Usage Is Widespread
Trading activity is concentrated on domestic exchanges. 98.1% of respondents use Korean exchanges, while 66.8% also use offshore exchanges. Over half (55.3%) use both domestic and offshore platforms. By contrast, decentralized exchange (DEX) usage stands at only 10.8%, with zero respondents using DEX exclusively.
Among domestic platforms, Upbit (88.1%) and Bithumb (75.5%) lead in usage, followed by Coinone (31.0%), Korbit (15.9%), and Gopax (15.6%). Among offshore platforms, Binance leads (55.8%), followed by Bybit (27.8%), OKX (27.5%), and Bitget (22.1%).
Caption: Domestic vs. offshore exchange usage (multiple selection allowed). Domestic: Upbit (88.1%), Bithumb (75.5%) dominate; offshore: Binance (55.8%) leads.
Source: Blockmedia
This data confirms Korean investors aren’t confined to domestic exchanges. While Upbit and Bithumb enjoy high usage, over half also use offshore platforms like Binance. Local listings remain important—but offshore exchanges provide an alternative channel into digital assets.
When selecting exchanges, the top priority is ease of fiat on- and off-ramping (31.8%), followed by trading volume (25.6%). In other words, respondents prioritize seamless fund movement and sufficient liquidity for efficient trading. Security and past hacks (8.1%) and fees (10.8%) rank lower.
Caption: Most important factor when choosing an exchange (single choice). Fiat on-/off-ramp convenience ranks first (31.8%), trading volume second (25.6%); security/hack history accounts for only 8.1%.
Source: Blockmedia
Overall, Korean investors prioritize accessibility and liquidity over cost or brand reputation. KRW on-/off-ramps, access to offshore platforms, and adequate trading volume directly determine where they transact.
VI. Market Maturity: Familiar with Derivatives & Airdrops—but Limited Daily On-Chain Use
Respondents demonstrate substantial experience with advanced strategies. 62.5% have traded derivatives—of whom 44.7% currently do so and 17.8% have done so in the past. Airdrop farming enjoys even broader participation: 77.7% have participated, with 60.4% currently farming and 17.3% having done so previously.
This indicates these investors are more than just spot holders. Many have engaged in leveraged trading and reward-based activities. High airdrop participation also suggests that wallet setup, task completion, and point accumulation are already routine for a large portion of respondents.
Caption: Derivative and airdrop participation. 62.5% have traded derivatives; 77.7% have participated in airdrop farming.
Source: Blockmedia
Yet this experience hasn’t translated into daily use of DEXs or DeFi. DEX usage remains at 10.8%, and no respondent relies solely on on-chain services. Most trading still occurs on centralized exchanges—both domestic and offshore. On-chain activity tends to be goal-oriented (e.g., airdrop farming), not part of routine trading habits.
Another detail: 17.8% previously traded derivatives but no longer do; 17.3% previously farmed airdrops but no longer do. This points to a cohort that has tried these products and strategies but hasn’t sustained engagement.
Overall, experience with centralized exchanges is widespread—but ongoing on-chain participation—including DEXs and DeFi—remains limited.
VII. Capital Rotation: Stocks Gained—But Investors Haven’t Left
45.3% of respondents recently increased their equity allocations—4.6 times more than those reducing them (9.8%). However, 35.3% made no change—indicating this isn’t a mass exodus from crypto, but rather localized rebalancing by some investors. Top reasons for adding equities were Korea’s strengthening stock market (53%) and crypto market weakness (50%), followed by higher expected equity returns (29%) and excessive crypto volatility (22%).
Caption: Equity allocation changes and rebalancing rationale. Equity buyers (45.3%) outnumber sellers (9.8%) by 4.6x—but 35.3% made no change; top reasons: Korean equities strengthening (53%) and crypto weakness (50%).
Source: Blockmedia
Caption: 94.9% of respondents say they’ll rebuy crypto if the market recovers. Money flowing into equities may not have truly left crypto—it may simply be paused elsewhere, awaiting improved conditions.
Source: Blockmedia
However, this rotation shouldn’t be read as structural exit. 94.9% say they’ll rebuy digital assets upon market recovery. Some capital is currently parked in equities—but may return when conditions improve.
Respondents’ broader asset portfolios reinforce this view. Approximately 90% are multi-asset investors—holding more than just digital assets. Most common non-crypto holdings are equities (66.8%), followed by deposits/savings (41.2%), ETFs (28.9%), real estate (19.8%), bonds (7.0%), and commodities (3.1%). Only 10.6% hold digital assets exclusively.
Within equities, domestic stocks dominate (68%), with sector preferences centered on semiconductors (65%) and AI/software (43%). This overlaps with AI—a leading theme in digital assets too. Investors aren’t abandoning growth and tech themes—they’re applying the same investment logic across both equities and digital assets.
Caption: Equity sector holdings (multiple selection allowed)—mirroring the same tech narrative seen in digital assets. Semiconductors (65%), AI & software (43%) rank top two.
Source: Blockmedia
VIII. 2026 Outlook: Cautiously Optimistic—with Focus on AI & RWA
For the 2026 market outlook, 52.6% are optimistic, 33.2% neutral, and 14.2% pessimistic. Positive sentiment prevails—but the sizable neutral segment (≈⅓) cannot be ignored. Overall expectations lean toward recovery, tempered by caution.
Caption: 2026 market sentiment—optimistic (52.6%), neutral (33.2%), pessimistic (14.2%).
Source: Blockmedia
Attention centers on AI, RWA, and stablecoins. Currently most watched areas are AI (59%), RWA (45.9%), and stablecoins (42.5%), while memecoins (6.2%) and NFTs attract comparatively little interest. The sectors viewed as most promising for 2026 align closely—AI (54.4%), RWA (52.3%), stablecoins (41.8%). Current interest and 2026 expectations largely coincide.
Holding periods also indicate medium-to-long-term orientation—not short-term speculation. 76% prefer medium-to-long-term holding; 45% hold for six months or longer; only 5% trade multiple times per day. This suggests investors favor themes and assets observable over extended timeframes—not fleeting narratives or rapid price swings.
Caption: 2026 digital asset focus areas (multiple selection allowed). AI (59%), RWA (46%), stablecoins (43%) rank top three; memecoins only 6%.
Source: Blockmedia
This data indicates Korean investors’ attention is shifting toward domains with clearer utility and stronger long-term relevance. Strong interest in AI and RWA reflects expectations of tangible utility and real-world asset integration; interest in stablecoins underscores persistent demand for USD-denominated assets and global liquidity.
Notably, domains tied to mainstream finance—RWA and stablecoins—rank prominently. This signals investors are looking past short-term volatility toward opportunities that are more intuitive, sustainable, and linked to institutional participation or real-world assets.
IX. Information Channels: Communities & News Lead—Social Media Preferences Vary by Age
Online communities are the most common source of investment information (52.3%), followed by news (43.0%) and social media (36.1%). Together, communities and media coverage form the primary information pipeline for this cohort.
Among social media channels, Telegram leads in usage (76.5%), followed by X (50.3%) and YouTube (41.0%). General-purpose messaging apps like KakaoTalk register only 9.5%. This suggests investors rely more on platforms suited for real-time information sharing and global market tracking—not everyday chat apps.
Caption: Information sources and preferred digital asset media (multiple selection allowed). Communities (52.3%) and news (43%) lead; media usage: Blockmedia (63.9%), CoinNess (59.8%) rank highest.
Source: Blockmedia
Channel preferences vary by age. Telegram usage remains consistently strong across all age groups—making it the closest thing to a universal information channel for Korean digital asset investors.
X and YouTube show sharper age-related divergence. X usage declines with age; YouTube usage rises—crossing around age 50. Among those aged 60+, YouTube usage surges to 67%, far surpassing X’s 33%.
Caption: Social media usage by age group—YouTube overtakes X starting at age 50. Telegram remains steady (71%–82%); X drops from 56% (ages 20–29) to 33% (60+); YouTube rises from 32% to 67%.
Source: Blockmedia
Younger investors lean toward text-based, real-time channels; older investors favor video. Telegram serves as the common foundation—but relative weightings of X and YouTube shift markedly with age.
X. Recommendation Behavior: Willing to Recommend—but Hesitant Due to Volatility
This cohort draws a clear line between “investing themselves” and “recommending to others.” 71.1% have recommended digital asset investing to family or acquaintances at least once—but only 10.3% describe themselves as actively recommending. Most recommend occasionally (27.1%) or rarely (17.5%).
In other words, even active market participants exercise caution when recommending to peers.
Caption: Have you recommended digital asset investing to family, friends, or colleagues? Only 10.3% actively recommend; 28.9% explicitly do not recommend.
Source: Blockmedia
The most common reasons for recommending and not recommending point to the same underlying factor. Top recommendation rationale is high-return potential (36.6%); top non-recommendation rationale is excessive price volatility (36.6%).
Volatility is a double-edged sword: it creates the return potential attracting existing investors—and also makes them hesitant to recommend to others.
Caption: Reasons for recommending vs. not recommending—return potential vs. volatility concerns. Top recommendation reason: “high return expectations” (36.6%); top non-recommendation reason: “excessive price volatility” (36.6%).
Source: Blockmedia
Appendix: Methodology & Disclaimer
This survey was conducted via online questionnaire, with 388 responses collected from Blockmedia’s active subscribers (Korean retail digital asset investors) between May 18–24, 2026, and executed by Blockmedia.
Respondents are active Blockmedia subscribers. Results should not be interpreted as reflective of the general public, but rather as observations about a cohort of highly engaged investors who maintain sustained interest and activity in Korea’s digital asset market. Because these individuals hold and trade digital assets, the sample offers a useful lens into the needs, information consumption patterns, and asset allocations of active Korean investors. Figures in this report reflect responses from active investors—not averages across the broader public or retail investor base.
This report is for informational purposes only and does not constitute buy/sell advice for any specific digital asset, security, or financial product. Data is based on self-reported survey responses and may differ from actual market data. The sample is not representative of the general public. All investment decisions—and associated responsibilities—rest solely with the investor. Copyright © Blockmedia.
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