Cryptocurrency adoption in Singapore has surged to levels from 2021.
Highlights
- 43% of the 1,500 Singaporean respondents in a recent Independent Reserve survey said they own some amount of cryptocurrencies.
- Bitcoin is the most popular asset class, with 87% recognition, while Ethereum ranks second with 51%.
- Diversifying portfolios remains the primary reason behind entering the ecosystem (54%) Singaporeans have shown increased knowledge, with 91% saying they are aware of the asset class.
- Female investors outperformed men in gaining profits, with 76% admitting they have either made some money or broke even.
- Those aged 26 to 35 years have the best knowledge in the field, with 59% of those 18 to 25-year-old group thinks better education is a top factor for gaining trust towards digital assets.
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