Nearly everyone in Singapore has invested in the crypto space already, with a male under the age of 34 being a dominant part of the figure. Though, more interestingly, there is more popular crypto in the coin than the BTC, BNB, and ADA.
Singaporeans Interest in Crypto
Through their partnership with Seedly and CoinMarketCap, Gemini, a crypto exchange in the United States, surveyed about 4000 people in Singapore to get the general perception of the locals on the crypto space. The report named “The State of Cryptocurrency in Singapore” returned 67% of the respondents as an estimate of those having crypto as financial investments and are currently holding in their wallets.
The survey revealed that the majority of the crypto investors are men having an estimated 80% of the respondents. More specifically, most of them are under 34. The involvement of women is less than a woman in five investors. However, the paper concluded that an average investor in Singapore is likely going to be a male around 29 years of age with an average household income of $52,000 in a year.
Expanding on the annual income, the survey revealed that only about 1.3% of the crypto holders receive more than $250,000 in a year. In contrast, people who receive less than $15,000 or no income at all were 13.7% and 13.9%, respectively.
From the remaining 33% who had no exposure to the crypto space, about one-third of them were planning to dive into the space by purchasing their first token this year.
Ethereum Over Bitcoin
When it comes to the choice of digital assets with the locals, the results of the survey look somehow surprising. The crypto space flagship and the number one based on the market cap is not the locals’ choice.
Instead, Ethereum, the second-largest digital asset, has 78% of the respondents. The next is BTC which has 69%. However, the gap between these two leading assets and the other ones that followed is quite remarkable.
Cardano, an asset that rose to popularity and worth per US Dollar recently, took the third position having to receive 40% of the votes. On the list are Binance Coin (31%), Tether (25%), Ripple (25%), Polkadot (22%), and Chainlink, having 18% to make the eight most traded assets in the country.