A new survey reveals that Singaporean women are more successful in crypto trading.
In February, an independent consumer insights provider Toluna surveyed “1,500 everyday Singapore residents on their attitudes toward cryptocurrency.”
According to the Independent Reserve Cryptocurrency Index (IRCI) report, 37% of the surveyed Singaporean women hold cryptocurrencies in their portfolios, compared to 30% in 2022.
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On the other hand, the proportion of men holding crypto fell by 1% compared to 2022. In 2023, 48% of male respondents owned crypto.
The report revealed that 76% of women holding crypto broke even or made profits on their investment, against 72% of men. These figures suggest that women likely outperformed men on crypto returns. Furthermore, females are more bullish and likely to invest larger amounts than males.
ICRI noted an overall increase in crypto adoption across Singapore, as ownership jumped from 40% to 43% between 2022 and 2023. Remarkably, crypto ownership among Gen X Singaporeans (46-55 years) rose by 25% to 55%. The survey reveals this trend is mostly driven by Singaporeans’ need to diversify their investment portfolios and influence from friends.
Another key highlight of IRCI’s report is the dipping confidence in crypto among Singaporeans. The confidence index, rated out of 100, dropped from 61 to 55 in the year leading to 2023. This fading confidence follows declining global crypto markets as major projects like Terra Luna and FTX collapsed in 2022.
It is common for various crypto-related firms and institutions to conduct surveys at the beginning of the new year. At the end of February, Coinbase partnered with Morning Consult to survey Americans about their views on the global financial system and crypto industry.
The survey showed that almost 80% of crypto owners believe that crypto and blockchain are the future.