As of the end of February 2025, the number of cryptocurrency exchange users in South Korea has reached 16.29 million, nearing or surpassing the country’s traditional stock investor base, which stands at 14.1 million. This means that over 32% of the population is now engaged in the crypto market.
This rapid growth was significantly driven by a surge in investor sentiment following the U.S. presidential election in November 2024, where Donald Trump was elected after pledging to promote the cryptocurrency industry. That month alone, over 500,000 new investors entered the market.
Among South Korea’s top five exchanges (Upbit, Bithumb, Coinone, Korbit, Gopax), Upbit leads with 9.82 million users. It is followed by Coinone (3.2 million), Bithumb (2.36 million), Korbit (770,000), and Gopax (150,000).
Bithumb showed the most aggressive growth, expanding its user base by 77.4% in a year, thanks to campaigns like commission-free trading and integration with KB Kookmin Bank.
In terms of demographics, male investors (10.13 million) outnumbered female investors (5.03 million) by a 2:1 ratio. The largest group was investors in their 30s (4.51 million), followed by those in their 40s (3.97 million), under-30s (2.92 million), 50s (2.64 million), and those 60 or older (1.12 million). Notably, women in their 50s stood out as “whales” in the market—over 20,000 had invested more than 100 million KRW (approx. $75,000).
A striking 83.1% of all investors hold less than 1 million KRW (approx. $750) in crypto assets. However, about 160,000 users held over 100 million KRW in digital currencies, with the largest portion being men in their 40s and 50s.
An industry official commented, “While some say the crypto market is saturated, there’s still tremendous growth potential when compared to the matured stock market.”
