According to a survey published today, the most popular cryptocurrency in Singapore is not Bitcoin, but Ether, as four-fifths of crypto investors hold ETH.
Around four-fifths of crypto investors in Singapore hold Ether, aka 78%, compared to those who own Bitcoin, which represents only 69%. The data comes from crypto exchange Gemini, finance platform Seedly, and information provider CoinMarketCap.
Cardano rounds up the top three with 40%.
The survey was applied between June 29th and July 9th to 4,000 adults.
It further discovered that 67% of respondents with personal investments owned crypto and that two-thirds of the crypto holders had grown their digital-asset holdings since the beginning of the pandemic.
Two-thirds of those who didn’t make crypto investments blamed it on their lack of knowledge of the sector. The infamous market volatility also had an important part in deciding not to invest.
Nevertheless, 34% of those who don’t own crypto yet said they would want to enter the market in the following year.
Respondents consider decentralized finance as being the most interesting aspect of crypto. Crypto as an inflation hedge and NFTs round up the top three.
About 80% of crypto owners in Singapore are men under the age of 34, indicated the survey, but women who own crypto usually have a higher median income compared to their male counterparts.
64% of crypto holders have over 5% of their portfolio in digital assets with a fifth of those between the ages of 18-24 saying that half of their investments are in crypto.
Source: Coindesk.com