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Director of the Korean Financial Institute, Pil Choi, expressed the view that safekeeping in cryptocurrency is crucial to eliminating fears of hacking and promoting market growth. In their study, the institution emphasized that managing public keys for accessing bitcoins and other cryptocurrency wallets is burdensome and difficult for ordinary investors.
According to Choi, in the short term, the market for cryptocurrency deposits will grow rapidly, as investors are looking for regulated and safe ways to invest in a developing class of assets. Trading cryptocurrency is fraught with the danger of burglary, and storing private keys can be burdensome for investors.
The traditional financial sector has long passed this stage, and cryptocurrencies are more risky than traditional assets, and cryptocurrency storage can become a fastgrowing market. Large investors, such as hedge funds, can enter the cryptocurrency market only if they have the tools to hedge and protect their investments.
According to the Korean regulator, first you need to create a solid infrastructure for large institutional investors. It is worth noting here that some large cryptocurrency exchanges in the US market, such as Coinbase, have already begun to focus on providing reliable depository services to both retail and institutional investors.