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Singaporeans Are More Aware of Crypto Than Australians

Singapore received an Independent Reserve Cryptocurrency Index score of 63 for crypto awareness.

Jul 26, 2021 at 11:47 a.m. UTC
Updated Sep 14, 2021 at 1:30 p.m. UTC

Singapore residents have more awareness of cryptocurrencies than Australians do, according to the first survey conducted in the city-state for cryptocurrency exchange Independent Reserve.

  • Singapore received an Independent Reserve Cryptocurrency Index (IRCI) score of 63 out of 100 for crypto awareness, a survey conducted by Toluna found. This is the first time the survey has been carried out for Singapore.
  • The figure compares with a 2020 reading of 47 for Australia.
  • Independent Reserve attributes the higher reading to the country's stable regulatory environment for crypto and the strength of its crypto industry.
  • More than 90% of Singaporeans know of at least one cryptocurrency, with bitcoin having the most recognition, the survey found.
  • More than 40% own some crypto, though 7% of respondents say it's a scam.
  • The survey polled more than 1,000 people.

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