Buy Bitcoin
in South Korea

If we consider Bitcoin to have intrinsic value due to some of its features such as limitedness and unforgeability and use it as a tool that preserves value over time, perhaps it is an asset worth buying. Bitcoin can be presented as a type of investment that preserves the value of your savings in the long term. However, we recommend that before purchasing Bitcoin, study the ins and outs of the Bitcoin market and consult with professionals.

In South Korea, the reporting of cryptocurrency tax is governed by the Income Tax Act and the
Corporate Tax Act. According to these laws, individuals and entities must report any gains or
profits from the sale or exchange of cryptocurrency as taxable income. To report cryptocurrency
tax in South Korea, individuals and entities must maintain accurate records of all cryptocurrency
transactions, including the date, amount, and type of cryptocurrency, as well as the price at the
time of the transaction. Then, calculate the gains or losses from each cryptocurrency transaction
by subtracting the cost of the cryptocurrency from the sales price and report any gains or profits
from the sale or exchange of cryptocurrency as taxable income.

Yes, you can cash out your cryptocurrency assets in South Korea by selling them for fiat
currency and then withdrawing the funds to your bank account or other payment methods. This
can be done through our cryptocurrency exchange.

You can purchase a small amount of Bitcoin, unlike stocks. The least amount of Bitcoin that you can likely purchase is equivalent to 1 Satoshi, or 0.00000001 Bitcoins, depending on its price of the day.

South Korea is widely considered to be one of the largest and most active cryptocurrency
markets in the world, with a large number of individuals and entities owning and trading
cryptocurrencies such as Bitcoin and Ethereum. According to a survey conducted by the Bank
of Korea in 2019, around 5% of the population in South Korea owned cryptocurrency, while a
more recent survey conducted in 2021 found that the number had increased to around 7%. This
suggests that the ownership of cryptocurrency assets in South Korea is growing, as more
people become interested in and invest in the digital currency market.

Due to theft, computer malfunction, loss of access keys, and other reasons, users may lose Bitcoin and other cryptocurrency tokens. Although hot wallets are still practical for some users, cold storage (also known as offline wallets) is one of the safest ways to store Bitcoin because it cannot be accessed online. Consider using a hardware wallet for all of your long-term Bitcoin and cryptocurrency storage if you’re looking for the safest storage option.  For short-term investments, you can also keep your Bitcoins on our exchange wallet in order to trade more easily.If you want to hold Bitcoin long-term, although you can still keep your cryptocurrency in this wallet, it is better to not keep it in the exchange wallet nor the software one. The safest option would be a hardware wallet.