Singapore says most crypto holders have a 5% investment in digital assets 

Recently, the government of Singapore released a statement saying that more than 50% of crypto holders have invested at least 5% of their assets in digital currencies. 

This year was the most significant year for cryptocurrencies as they rapidly spread in various parts of the world, including Singapore. In a data released by Traxan, a market analyst platform, it showed that Singaporeans have invested $91 million into cryptocurrencies last year. 

Survey says …

To further understand Singaporeans’ behavior towards cryptocurrencies, Gemini, CoinMarketCap, and SeedlyReads conducted a survey to know more about this area. 

The survey was conducted on June 29, 2021, and ended on July 9, 2021. It focused on adults in Singapore aged 18-65 who are involved in financial instruments and investments. 

Some 4,348 citizens participated in the survey and the study revealed that 67% of the respondents own cryptocurrencies. Around 64% of these cryptocurrency holders said they have at least 5% investment in digital assets. 

Gender factor in cryptos

The survey also revealed that 67% of respondents who hold crypto assets are male. Women respondents got a lower percentage in the study. This indicates that when it comes to crypto-related investments, female investors are more conservative than men. 

But even with the dominance of male investors in the Singaporean crypto space, there are clear signs that investments from women are catching up. 

One more interesting fact that the survey showed was that the women investors in the survey generally came from higher income brackets. With this, there is a high possibility that they would soon consider expanding their exposure on crypto investments. 

But even with the varying investment behaviors of male and female investors in Singapore, what is clear is that they would certainly have a higher interest in cryptos in the future. 

Image courtesy of Cointelegraph News/YouTube

Source: https://bitcoinerx.com/blockchain/singapore-says-most-crypto-holders-have-a-5-investment-in-digital-assets/