A new study conducted in the country showed that nearly four in five virtual currency owners hold ether in their digital wallets. Bitcoin comes in second place.
“The State of Crypto in Singapore Report 2021” is the latest research done by the crypto exchange platform Gemini. The study, made with the collaboration of CoinMarketCap and Seedly, came to some really interesting conclusions.
4,348 Singapore-based adults were part of the report, and 67% of those with personal investments currently own digital currencies. 2/3 of these crypto holders increased their crypto-asset possessions during the COVID-19 pandemic.
“Survey respondents were polled from June 29 to July 9, 2021, and included 2,862 respondents that identified as current crypto holders and 1,486 respondents that identified as non-crypto holders.”
78% of those owning virtual currencies hold ether, 69% possess bitcoin. At third place comes Cardano’s ADA at 40%, followed by Binance’s token BNB at 31%. One in four investors owns XRP and Tether’s USDT.
Nearly 80% of crypto holders in Singapore are men and younger than 34. Meanwhile, only one in five of them is a woman. The majority of those who haven’t invested in digital currencies yet cited a lack of information as a reason.
Anyhow, 34% of the people who don’t own crypto in Singapore stated that they plan to step into the market during the following 12 months. Learn more about the survey here!