South Korea’s crypto atmosphere has witnessed a volatile environment in terms of regulatory moves as bitcoin prices and other altcoins wanted to move too. Such a scenario has not stopped the country’s middle class from taking advantage of the crypto market, even with highly successful stories.
One of the interviewees risked his life savings in cryptos
According to a report published by TV network JTBC, employees of large companies such as Shinhan Card, Samsung and LG Electronics claimed they had accumulated enough profit to quit their jobs.
Testimonials in the video report show that the individuals managed to collect millions of dollars worth of cryptos.
One of them, a former Shinhan Card employee, told JTBC that he managed to win nearly 3 billion won ($ 2.7 million), but clarified that he was taking a risky step by making such astonishing winnings.
In fact, he invested his savings and some loans in crypto transactions, and after earning the millionaire amount in profit, he quit his job at Shinhan Card last month. Interestingly, he became a full-time Youtuber to showcase his success on crypto investments.
Former Samsung employee made about $ 36 million in profits
But his story is by far the most successful one mentioned in the report.
Another of the former employees interviewed by JTBC, who was part of Samsung’s workforce, claimed to have made about 40 billion won ($ 36 million) in profit after investing just 50 million won ($ 44,670) in cryptocurrencies .
As a note, none of the above interviewees disclosed which cryptos they invested their money in.
However, an employee from Yeoido’s financial district – who did not disclose the company’s name – was hesitant to invest in bitcoin (BTC), telling JTBC that many people invested in crypto. She claimed she felt “worried” about such investments.
Bitcoin.com News recently reported that South Korea’s crypto market continues to grow across the board, as a study revealed that domestic crypto investors traded about $ 7 billion a day from January 1 to February 25, 2021.
What do you think of this report on the South Korean middle class making astonishing profits from cryptos? Let us know in the comments below.
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