2.0% BTC kimchi premium explained
CryptoNewsTerminal Staff08 Aug, 2024
2.0% BTC kimchi premium explained
Kimchi premium is a measure of how much more expensive Bitcoin is in South Korea compared to the rest of the world. It is named after the popular Korean dish, kimchi. The kimchi premium has been growing in recent months, and it recently reached a record high of 2.0%. This means that Bitcoin is currently 2.0% more expensive in South Korea than it is in the rest of the world. There are a few reasons for the kimchi premium. One reason is that South Korea has a very active cryptocurrency market. This means that there is a lot of demand for Bitcoin in South Korea, which drives up the price. Another reason for the kimchi premium is that South Korea has a very strict regulatory environment for cryptocurrency exchanges. This makes it difficult for South Korean investors to buy Bitcoin on international exchanges. As a result, they are forced to buy Bitcoin on domestic exchanges, which drives up the price. The kimchi premium is a sign of the growing popularity of Bitcoin in South Korea. It is also a sign of the challenges that South Korean investors face when trying to buy Bitcoin.
