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Singapore Traders Choose Safety First in Crypto Market Shake-Up

Key Takeaways

  • Most Singapore crypto investors favor trusted and secure exchanges over those offering the lowest fees;
  • 61% of finance-minded Singaporeans hold crypto, with many taking a long-term, cautious approach to investing;
  • Social media leads as the main source for crypto education, though confidence in understanding remains divided.

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Singapore Traders Choose Safety First in Crypto Market Shake-Up

Singapore’s cryptocurrency investors are becoming more careful about where they trade.

A new survey by MoneyHero and Coinbase $745.26M shows that most choose reliable exchanges instead of the cheapest ones.

The survey included 3,513 people, both investors and those curious about crypto. About 61% of finance-minded respondents said they own some form of cryptocurrency.

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When deciding which exchange to use, trust is the biggest factor. Investors are paying more attention to rules, safety, and long-term security rather than just low fees.

Many investors take a patient approach. Around 58% consider themselves long-term holders, and 42% have kept their crypto for more than two years.

Most keep crypto investments small, less than 10% of their total assets, and typically hold around three different tokens.

There is still potential for growth. Among those who do not yet own crypto, 27% said they plan to invest within the next year.

Views on what crypto represents are mixed. About 44% see it as an investment, while 29% see it mainly as a way to speculate on prices.

When it comes to learning about crypto, most people turn to social media as their main source of information. 62% said they rely on it to learn about the topic.

Confidence in understanding crypto is evenly split. 48% said they feel confident about their knowledge, while 52% are unsure.

Coinbase recently pushed back against several US banking groups after they urged regulators to block rewards and discounts tied to stablecoin payments. What did Faryar Shirzad say? Read the full story.

Aaron S. Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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