What is the Kimchi Premium, what causes it, and why is Bitcoin more expensive in Korea?
What is Kimchi Premium? When investing in crypto, you'll often come across the term kimchi premium. Kimchi premium refers to the phenomenon where crypto assets, including Bitcoin, are traded at a higher price on local exchanges than on overseas exchanges. The expression is a combination of kimchi, which symbolizes Korea, and premium, which means expensive. For example, if Bitcoin is trading for 100 million won on an overseas exchange like Binance, but 130 million won on a local exchange like Upbit or Bithumb, the difference is 30 million won, which is the kimchi premium. ...