According to Finder’s Cryptocurrency Adoption Index, bitcoin is Singapore’s most popular cryptocurrency, with 44.2% of crypto owners owning the coin.
For the study, 1,500 Internet users in Singapore were surveyed in December 2021, where the results found that it ranks 11th out of 27 countries studied. The crypto ownership rate in Singapore is 15.8%, same as Kenya (at 15.8%).
Argentina follows closely behind at 15.2%, which lies just below the global average of 15.5%.
The highest rate of ownership, according to the survey, is Vietnam, with 28.6%.
Source: Finder
See also: Digital Assets Association launches to connect tradfi and tokenised real world assets
In addition, Singapore also saw its highest global adoption ranking for Ethereum at 43.5%– about double (1.8 times) the global Ethereum adoption rate of 24.4%, coming in first out of 27 countries. It is also the second most popular coin in Singapore, followed by Solana at 23.4%.
Male dominance in Singapore crypto market
The survey also found that men in Singapore are roughly 2.2 times as likely as women to own cryptocurrency. Among crypto owners, 69% are men compared to 31% who are women.
See also: Ex-Grab executive joins Winklevoss twins crypto firm Gemini as head of APAC
Singapore has the 3rd-highest male-dominated crypto market of the countries surveyed, where globally, men are on average 1.5 times more likely to hold crypto than women.
Younger people more inclined towards crypto
At a global stage, crypto ownership is dominated by the young, with an average 56.1% of owners aged 18 to 34.
In Singapore, those aged 18-34 also dominate crypto ownership at 55.6%, while at 37%, 35-54 year olds are the next most likely group to own crypto. Those aged 55+ come in last with 7.4%.
Lacking crypto awareness
However, Singapore ranks in the bottom half when it comes to general awareness of cryptocurrency as a means of investment, with 64% of Internet users in Singapore saying they’ve heard of cryptocurrency, placing the city-state at in 12th position among 23 countries in terms of crypto awareness.
Overall, the survey found that Singapore ranks 13th out of 23 countries with regards to positivity around cryptocurrency, with 37% of respondents saying they think cryptocurrency is a good investment, lower than the global average of 43%.
Photo: Golden Capitalist
