South Korea’s crypto moms are taking their purchases of bitcoins (BTC) and altcoins seriously, according to a new report, are turning to their descendants for advice on making smarter investments.
As previously reported, while the South Korean cryptocurrency rush of the 2017 era was predominantly led by younger male investors, Crypto Fever 2.0 has seen an influx of investors in their 40s and 59s, with the ‘mother cryptocurrencies “entering the fray. Last month, a local industry watcher told Cryptonews.com that “more female shoppers are showing up” and that many have been inspired by movements in the United States by gamers like Tesla.
But according to Chosun, some mothers ask their sons and daughters for advice on investing in BTC. The news outlet stated that housewives in their 40s and 50s were now jumping into cryptocurrency investing. Chosun pointed to data from the Coinone trading platform that showed that 44% of all 50-year-old clients were now female, while women accounted for 31% of 40-year-old clients. In contrast, only a quarter of customers in their 20s and 30s are women.
The news outlet quoted an older novice trader as saying that he was “learning about trading by listening to my son.”
And a 51-year-old “full-time housewife” investor complained:
“Cryptocurrencies are not like stocks, they are relatively easy to understand. It is difficult to understand what a blockchain is. “
A Seoul-based mother with, also 46, told:
“I am really interested in cryptocurrencies and I would love to invest if I had extra money. Sadly, I don’t have anything to spare right now, so I’ll have to wait! “
Meanwhile, on a Naver message board, the roles were reversed with a poster recently claiming that he was a senior in high school. The poster said that her father, a successful bitcoin investor, had advised her to drop out of school and dedicate her efforts to trading cryptocurrencies full time.