Some young Koreans quit job to become full-time bitcoin traders

Obsessive Bitcoin (BTC) tracking observed among Koreans in their 20s and 30s was recently detailed by the leading South Korean newspaper, Chosun Ilbo.

Price fixation has impacted the lives of young Koreans in a negative way to the point that it has interfered with their work commitments. As a matter of fact, employers complain that young workers are distracted by Bitcoin fluctuations during their work hours. Some have even quitted their jobs to become full-time traders.

Businesses and companies have also resorted to finding ways on how to block their employees from accessing cryptocurrency trading websites during office hours.

Leaving a job to become crypto trader

A classic example to prove the above-mentioned points is the story of Han Jung-soo, who quit his job at a credit card company last month after making 3 billion Won ($2.7 million) from cryptocurrency investing.

According to the South Korean newspaper, the former employee said that crypto provides a better return compared to working a normal job. “I enjoyed working, but I realized it made more financial sense to focus on my investments considering the returns I can gain for the amount of time I put in,” he said.

As his “success story” spread on the internet, more and more Koreans in their 20’s and 30’s have joined the bandwagon.

Crypto trading addiction

Because Bitcoin (BTC) and other cryptocurrencies have only gained some footing and traction recently, what is being called “cryptocurrency addiction” puts some people in uncharted territories.

Psychologists classify this “phenomenon” under the same taxonomy as a behavioral addiction, which includes gambling and stock market trading addiction — both of which are already established sub-types.

Those who are “addicted” to trading are hooked on the supposed easy gains. This issue gets compounded by the presence of 24/7, 365-day markets. As such, it is also considered a never-ending proverbial horse race.

 

Image courtesy of Cointelegraph News/YouTube

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