South Korean Crypto Users Reach 16M at Saturation Point

South Korean Crypto Users Reach 16M at Saturation Point

The statement of 16 million South Korean crypto exchange customers is consistent with forecasts made on past growth rates. Historical data reveals that in 2021 a study by the Korea Institute of Finance (KIF) found almost 4.9 million South Koreans possessed crypto assets, or roughly 9.6 percent of the population (South Korea Crypto Ownership Survey 2021 | KIF).

The Korea Financial Investment Association (KOFIA) reported around 10 million South Koreans had invested in crypto, about 20% of the population (2022 Crypto Investment Survey | KOFIA). According a 2023 article from The Korea Times, South Korean crypto investors number 15 million or 29% of the populace.

With around 1.25M more consumers per year from 2021 to 2022, by 2025 the total could top 1516 million, especially given a possible bull market bounce back in 2023 and 2024.

With total user numbers across all exchanges— such as Upbit (more than 10 million in 2022) and Bithumb (approximately 5 million in 2022)—expected to be around 1520 million by 2025, this 16 million is reasonable. This number is about 31 percent of South Korea’s 51 million people (Population of South Korea | World Population Review), so relative to Europe countries (lower or similar) and the United States (around 20%) this suggests high adoption.

Defining ” Saturation Point “

The word “saturation point” in this context most likely means that the market has attained its greatest or nearmaximum number of clients, with little or slow further expansion expected. This implies that most people keen in crypto have already registered and fresh consumer acquisition is leveling off.

With the market’s maturity and slower growth in 2022 during the bear market and fast growth in 2022021 during bull markets, reaching 16 million by 2025 could suggest a plateau, especially if growth rates have waned as in hypothetical reports like South Korea’s Crypto Market Matures with 16M Users.

Market forces, whereby early adoption stemmed from speculation but where regulatory certainty and financial conditions may now constrain fresh entrance, help support this view.

For example, the Financial Services Commission (FSC) of South Korea has established rules such the Virtual Asset User Protection Act in 2023 that might have steadied the market but also limited growth by raising compliance costs for exchanges, hence maybe discouraging new users (Virtual Asset User Protection Act FSC).

Contributing factors to saturation
There are a number of reasons why 16 million is seen as a saturation point, perhaps

The South Korean crypto market has been operating for several years; early adopters probably already aboard. According to Crypto Exchange User Growth Trends, the early surge in 2020-2021 driven by Bitcoin’s bull run saw fast user growth, but the 2022 bear market slowed this and recovery in 2023-2024 not matched historical rates.
Although South Korea’s explicit regulations, such as license exchanges and KYC/AML compliance requirements, have spurred acceptance, they might also steady the market by decreasing incoming new user numbers. Late talks on age restrictions (e.g. banning under18 trading in 2021) could have limited certain groups, thereby adding to saturation (South Korea Crypto Age Restrictions | Korea Herald).

Economic Conditions: Economic stability or volatility affects crypto interest. More people could be investing during unstable times, but according to the OECD Economic Forecast (OECD Economic Forecast, Interim Report March 2025 | OECD), fewer new users could see the need, so slowing growth might be happening in 2025 in the context of a stable economy.

Public Perception: Events like the TerraLuna collision in 2022 could have harmed confidence and therefore slowed down new user acquisition, as X community discussions seem to suggest (Crypto Investor on X).

According to Crypto Ownership by Country | Statista, the US has about 20% crypto ownership. Instead, in Europe it ranges (e.g. Germany at 15%, UK at 18%). Comparing South Korea to others, the US has around 20% crypto ownership. South Korea’s 31 percent is high, implying it is ahead, but saturation would lead to slower growth than in developing nations such as Nigeria (30 percent ownership, still growing).

South Korea Crypto Ownership Survey 2021 | KIF2022 Crypto Investment Survey | KOFIASouth Korean Crypto Investors Reach 15M | The Korea TimesPopulation of South Korea | World Population ReviewVirtual Asset User Protection Act | FSCSouth Korea Crypto Age Restrictions | Korea HeraldOECD Economic Outlook, Interim Report March 2025 | OECD https://crypublishx.com/california-safeguards-bitcoin-and-crypto-self-cust/