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- 94% of Singaporeans are now aware of cryptocurrencies, the highest on record.
- Despite high awareness, only 29% currently hold crypto assets, down from 40%.
- 68% of cryptocurrency investors in Singapore hold Bitcoin.
Singaporeans are more aware of crypto than ever. A new report by Independent Reserve shows that 94% of respondents are familiar with digital assets. This marks the highest level of awareness since the survey began five years ago.
Though awareness level has increased, actual ownership percentage has decreased. 29% of the surveyed now own cryptocurrencies. It has declined sharply from the 2024 figure of 40%. The report employed a survey of 1,500 inhabitants in February. Its aim was to quantify understanding, application, and trust in cryptocurrencies.
The majority of investors belong to the 25-54 age bracket. They comprise 71% of investors. A good number of them also trade on a regular basis. Investors in this cohort tend to be more familiar with digital platforms and risk exposure. There remains a disparity between genders. The report indicates 35% of men invest in cryptocurrencies versus 24% of women.
Bitcoin Dominance and Evolving Investment Trends
Bitcoin remains the king of the cryptocurrency space in Singapore. Of those who own digital currencies, 68% own Bitcoin. It is not simply a coin for most of them. It’s a store of value or an investment vehicle for many. An overwhelming 86% of owners trust Bitcoin’s position in the financial system.
At the same time, 77% of them anticipate it will exceed $100,000 in a decade’s time. Owner-occupation has also changed ways. New investment choices such as ETFs notwithstanding, investors generally prefer ownership directly.
Nearly 61% of them still prefer to own their crypto in wallets or through exchanges. Short-term trading has gained momentum. Two-thirds of the respondents confessed they sold cryptocurrency last year in order to take profits from market rises. It indicates a rising trend for taking profits in bull runs.
Trends and Challenges in Singapore’s Crypto Landscape
Stablecoins are on the rise. 46% of investors hold stablecoins now. The majority opt for stablecoins in relation to the US dollar. The latter finds their application in trading and decentralized finance. Investment behavior has also become more disciplined now. Many investors fix a monthly budget for cryptocurrency.
More than two-thirds invest on a regular basis, although the majority do so less than 500 yuan a month. These memecoin darlings also make their mark, a full 28% of investors owning at least one, and most popular of all is Dogecoin. Trendy as they may be, they tend not to be well-supported and involve significant risk.
Regulatory issues persist. New regulatory frameworks exist now, but 58% of those surveyed would like the government to provide clearer directions. Fully half also anticipate better market behavior. The rising interest is promising. However, education, regulations, and responsibility will be essential if Singapore’s future in cryptocurrencies is to be maintained.
Related Reading: Bitcoin Price Faces Resistance as Bearish Signals Emerge
