Over 40 % of Singapore have crypto: survey

Over 40 % of Singapore have crypto: survey

43 % of the 1,500 respondents from Singapore in a recently carried out survey by Independent Reserve stated that they had a certain amount of cryptocurrencies. In comparison, research of the past year estimated the number at around 40 %, while the adoption rate in 2021 (during the Hausse) was 43 %.

77 % of the Hodler stated that two or more digital assets have to have, the diversification of the portfolio is the main reason for the investment.

The new trends after reviving the market

Apart from the increasing introduction of crypto, the Singaporers have shown an increased knowledge, with 91 % information that they are aware of the investment class. Bitcoin is most popular with 87 %, while Ethereum is in second place with 51 %.

"The increasing popularity of old coins shows that more and more Singapore begin to gain more awareness of other cryptocurrencies next to Bitcoin.

This is a promising sign for the industry, since more and more investors are given access to different types of blockchains and projects that have an innovative benefit and the potential to be adopted wider for real applications and applications, ”said Lasanka Perera - CEO of Independent Singapore.

The diversification of portfolios remains the main reason for starting the ecosystem (54 %). The number is even higher if one speaks of investors with more than 5 years of experience (68 %), while becoming rich (48 %) is in second place.

Half of the people who have jumped on the train in the past 12 months stated that they had been influenced by family members, friends or social media.

young people are much more active in the industry than older generations. The 26- to 35-year-olds have the best specialist knowledge. 59 % of 18 to 25 year olds believe that better education is an important factor to gain trust in digital assets compared to 53 % in 2022.

Most long -term owners have registered profits

The turbulent year 2022 has affected short -term trust in cryptocurrencies. Nevertheless, 72 % of all Hodler stated that they would recommend friends and family members to invest in digital assets.

78 % of those who have been part of the ecosystem for over five years saw the value of their cryptos rise. On the other hand, 40 % of the people who started investing less than a year ago reported losses.

female investors are on the advance

Independent Reserve found that 37 % of female participants have invested in cryptocurrencies, 7 % more than in the previous year.

women also exceeded men when achieving profits, with 76 % admitting that they either earn some money or have reached the profit threshold. At the same time, 72 % of male investors confirmed the same.

A quarter of women have invested over 20 % of their assets in the asset class, 48 % plan to invest even more in the future.

higher income promotes larger investments

Then the research found that the investment amount depends on people's salaries. Only 8 % of Singapore investors who earn up to $ 4,999 a month stated that $ 1,000 or more per month for crypto. In contrast, 53 % of the people with a content of more than $ 10,000 a month distribute $ 1,000.

Every fourth Hodler invests over $ 1,000 in digital assets every 30 days, an increase of 4 % since 2022. The proportion of those who buy crypto worth $ 10,000 or more per month has increased by 1 %

“earners with higher incomes will probably invest more of their investment portfolio in cryptocurrency. Overall, the groups with higher incomes say that their cryptocurrency investments have made money or that they have reached the profit threshold.

The income segment of $ 7,000 to $ 9,000, which invested the highest proportion of its investment portfolio in cryptocurrency, has 67 %that claim to have made a profit. They are also the segment that is most confident about the long -term viability of the cryptocurrency market. ” the study outlined.

.