Singapore Crypto Owners Are More Likely to Hold Ether Than Bitcoin

More than a third of Singaporeans who don't hold any cryptocurrencies plan to invest in digital assets in the next year.

Aug 16, 2021 at 12:00 a.m. UTC
Updated Sep 14, 2021 at 1:40 p.m. UTC

Ether is the most popular cryptocurrency in Singapore, a survey published Monday found.

  • Almost four-fifths of crypto investors, 78%, hold ether compared with 69% who own bitcoin, according to a survey by crypto exchange Gemini, finance platform Seedly, and information provider CoinMarketCap. Cardano came third at 40%.
  • The survey of over 4,000 adults conducted June 29-July 9 also found that 67% of respondents with personal investments have crypto in their portfolio, and two-thirds of the crypto holders increased their digital-asset holdings during the pandemic.
  • Of those who haven't invested in crypto, more than two-thirds cited lack of knowledge. Perceived market volatility also played a part in the decision.
  • Still, 34% of respondents who don't own crypto said they plan to enter the market within the next 12 months
  • The most interesting aspect of crypto to all responders was decentralized finance, followed by crypto as an inflation hedge and non-fungible tokens.
  • Around 80% of crypto owners in Singapore are men and under 34, the survey found.
  • Women who own crypto have a higher median income than their male counterparts.
  • While 64% of all crypto holders have more than 5% of their portfolio in digital assets, a full fifth of those aged 18-24 said more than half of their investments are in crypto.
  • Singapore is emerging as Asia's crypto hub, in part due to favorable regulation.

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