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Author Topic: Why is the South Korean stock exchange is so little support cryptocurrency?  (Read 84 times)
lenadisano
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January 30, 2018, 10:42:09 AM
 #1

Why is the South Korean stock exchange is so little support cryptocurrency?

Many investors, especially traders outside of South Korea, are still wondering why local crypto-exchange exchanges, such as Bithumb and Korbit, do not integrate much crypto currency.

Bithumb, the world's largest crypto currency exchange, which received more than three hundred million dollars in profits from fees last year, has only twelve crypto-loans tied to the platform. Korbit, the third largest currency exchange in the local market, has less than a crypto-currency variety than Bithumb.

South Korean crypto-exchange exchanges are extremely cautious when the currencies are in the market. As shown in various studies, the demand in the South Korean market is relatively high, but the offers are much smaller.

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January 30, 2018, 10:54:32 AM
 #2

I would like that all the countries at least have the government like in Hong Kong or maybe Switzerland that is not obsessed with controlling the citizens and forbidding too many things. The government has fingers in this shady evolvements and investors of the pointed country are using other exchanges because their own country cant provides them what they want. I hope that this kind of countries will support their citizens and interests more ( future interest is the complete integration of the cryptocurrency) in the near future.

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January 30, 2018, 11:01:37 AM
 #3

Why is the South Korean stock exchange is so little support cryptocurrency?

Many investors, especially traders outside of South Korea, are still wondering why local crypto-exchange exchanges, such as Bithumb and Korbit, do not integrate much crypto currency.

Bithumb, the world's largest crypto currency exchange, which received more than three hundred million dollars in profits from fees last year, has only twelve crypto-loans tied to the platform. Korbit, the third largest currency exchange in the local market, has less than a crypto-currency variety than Bithumb.

South Korean crypto-exchange exchanges are extremely cautious when the currencies are in the market. As shown in various studies, the demand in the South Korean market is relatively high, but the offers are much smaller.

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In my own thought,south korean stock exchange  has a little support because maybe they are also affected in declaration of banning the digital currency in there country,due to announcement of there government,that probihited crypto to operate,maybe they also hide there  business to avoid the implementation of the law in south korean government.

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January 30, 2018, 11:50:38 AM
 #4

South Korea being skeptical about bitcoin can be traced in its history. South Korea was one of the most highly affected countries during the Asian Financial Crisis. Basically, AFC was due to numerous bubbles that made the asian economy crash. Maybe, South Koreans view cryptocurrency as a potential bubble that would harm its economy. Moreover, the high volatility of its price also accentuate the Koreans' aversion towards this currency.

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January 30, 2018, 12:40:44 PM
 #5

Of course.
As i know, after the incident last week in south korea, their government has made a new rule for the local crypto exchange market, to do no crypto transaction except the crypto they support, one of which is NEO, NEO is rumored as Coin Pro Government, so it's very reasonable, if the number of coins they integrate very little.

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January 30, 2018, 01:00:37 PM
 #6

Why is the South Korean stock exchange is so little support cryptocurrency?

Many investors, especially traders outside of South Korea, are still wondering why local crypto-exchange exchanges, such as Bithumb and Korbit, do not integrate much crypto currency.

Bithumb, the world's largest crypto currency exchange, which received more than three hundred million dollars in profits from fees last year, has only twelve crypto-loans tied to the platform. Korbit, the third largest currency exchange in the local market, has less than a crypto-currency variety than Bithumb.

South Korean crypto-exchange exchanges are extremely cautious when the currencies are in the market. As shown in various studies, the demand in the South Korean market is relatively high, but the offers are much smaller.

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Woah its the same as there money I would just say there currency is just low and it must be beacuse of there economy and different thing related to export import process. As well there providing goods small export and by the way this is just my opinion I am not agiants korea please respect my opinion but that how I see it, plus in connection to cryptocurrency maybe no one is interested in bitcoin thats why.
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January 30, 2018, 01:19:17 PM
 #7

Being cautious may have negative effects on the availability of other coins in their country but its not all bad. They are doing that to protect the people and also their reputation for bringing quality services for the citizens.

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January 30, 2018, 02:35:05 PM
 #8

Being cautious may have negative effects on the availability of other coins in their country but its not all bad. They are doing that to protect the people and also their reputation for bringing quality services for the citizens.
Rather it might be the other way around. They might be doing it for themselves. They so it so that their government would not lose control over finances of the country. I might be wrong but we must consider all possible reasons as to why they only offer only a variety of cryptocurrency. It is true though that they are being cautious on adding cryptos.

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January 30, 2018, 07:08:18 PM
 #9

They are scared of their government.

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January 31, 2018, 10:35:06 PM
 #10

As now South Korean govt. has declared regulations on crypto trading, anonymous crypto trading is eliminated, and one has to pay taxes on the profit earned. I think this will encourage Korean investors to enter in the crypto market now without any fear and even Korean exchanges will add more coins now on their platform.

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January 31, 2018, 10:54:33 PM
 #11

They not detail cryptocurrency as a good list to go and trade with, they will need to study arbitrage intensive before they let all of their worries. and they will not plan to ban it either.  after passing its scrutiny stages.

 as of facts that South Korea is one of the world's biggest markets for trading bitcoin and other digital currencies.

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January 31, 2018, 11:25:29 PM
 #12

They are scared of their government.

I guess not? cause if you haven't heard, Samsung, the big south korean company have taken its foot on cryptocurrencies. (https://www.cnet.com/news/samsung-bitcoin-cryptocurrency-chips/)
I think the SK Exchanges doesn't want to do a quick jump since they had already the momentum. Slowly but surely  Wink
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February 01, 2018, 01:12:56 AM
 #13

I'm particularly interested in South Korea as it's rated #1 in innovative economies in the world and also 1/3 of South Koreans trade crypto.
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February 01, 2018, 04:41:55 AM
 #14

The fact is, stock exchange people don't want to lose their business because cryto market is booming and they want to stop crypto market for their benefit. Also, stock exchange people have little or no knowledge in cryptocurrencies and this is one of the reason they're not supporting. They all want to stick in to a traditional system and don't want to move forward for a future technology or currency.

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xieqieshangu9
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February 01, 2018, 04:49:29 AM
 #15

It is said that transactions can collect taxes.

That's why we support it!
Anteros
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February 01, 2018, 08:53:41 AM
 #16

They are scared of their government.


I do not think that they are afraid. What makes their government so it protects its citizens while the crypto currency is included in the legal field is good!
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February 01, 2018, 12:51:18 PM
 #17

These are countries that have always struggled to control or monitor the money of their citizens, as we know most of the altcoin can not be controlled at all, and with the excuse that it could become a method of use to commit a crime They simply will not support this new generation of the economy unless they can have control and get a percentage of taxes in return.
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February 01, 2018, 01:05:52 PM
 #18

They are scared of their government.

I guess not? cause if you haven't heard, Samsung, the big south korean company have taken its foot on cryptocurrencies. (https://www.cnet.com/news/samsung-bitcoin-cryptocurrency-chips/)
I think the SK Exchanges doesn't want to do a quick jump since they had already the momentum. Slowly but surely  Wink

I believe that something like this surely happen because it seems like that. The Samsung company is going to manufacture the mining rigs part now and who could have imagined that some mobile giant and electronic industry which had no connection with the crypto currency will go for such step foot. It’s good that they are doing it as it will be huge support for the South Korean market itself and they might just take over the market of other exchangers due to little push from the Samsung. I mean indirectly the government will try to support the crypto with full fledge as they see their value growing because of the Samsung. It’s beautiful concept and love it how surprising things can happen in the world. It’s real Cold War really.

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