• Home
  • Bitcoin News
  • Blockchain News
  • CBDC News
  • NFT News
  • New to Crypto?
  • About
  • Contact
Facebook Twitter Instagram
Todayq News
  • News
  • Bitcoin
  • Metaverse
  • NFT
  • Blockchain
  • New to Crypto
  • Contact
Twitter Facebook Instagram LinkedIn
Todayq News
News

Independent Reserve Survey, 58% Singaporeans own Bitcoin

By Avantika Khajuria26 July 2021, 04:48 PM
Independent Reserve Survey, 58% Singaporeans own Bitcoin

Survey published by Asia-Pacific cryptocurrency exchange Independent Reserve, cryptocurrency acceptance notably Bitcoin adoption is increasing in Singapore among younger generations wanting to profit on the generational wealth potential of Bitcoin.

One of the critical indicators of Singaporean attitudes to cryptocurrency is actual adoption. In 2021, 43% of Singaporeans own a cryptocurrency. The ownership for those under the age bracket of 26-45 is the maximum.

Source: Independent Reserve

Cryptocurrency adopters in the 26-45 age bracket have the most diverse portfolios, with 58% of them owning Bitcoin, 38% owning Ethereum, and various other tokens accounting for 36% of ownership. In comparison, the average ownership for all other age groups is BTC at 22% and ETH at 11%.

These high levels of adoption are due to increasing government transparency, which was the prime motive of trust in crypto adoption across all age groups, followed by education. When it comes to trust and confidence, only 7% of Singaporeans feel Bitcoin is a fraud.

Source: Independent Reserve

As income increases, they are 2.5x less likely to view Bitcoin as a scam when compared to those earning under $3,000 per month to those earning over $10,000 per month. Recently, Singapore’s financial authorities have revealed that they are collaborating with their French colleagues to investigate cross-border CBDC applications.

Related: Guidelines and lack of awareness are the barriers to Cryptocurrency

Singapore’s central bank, the Monetary Authority of Singapore, has even given cash rewards to individuals who pitch digital currency proposals. The CEO of Independent Reserve, Adrian Przelozny, hailed Singapore as a Key hub in Asia due to its robust and well-regulated financial markets infrastructure and openness to new technologies.

Despite a drop in cryptocurrency prices since May 2021, Bitcoin’s worth has increased considerably since the end of 2020. As Bitcoin prices became more prominent news stories, this led to a rise in consumer awareness for cryptocurrencies throughout the world.

New to Crypto? Enroll in Cryptocurrency Course at Todayq Education

Adoption Bitcoin Singapore
Share. Facebook Twitter LinkedIn Telegram WhatsApp Reddit

Comments are closed.

Must Read

Suzhou: The next frontier in China’s Metaverse hub development

Meta to continue investing in Reality Labs despite recording a $13.7 billion loss in 2022

Tesla bleeds over $140 million after Bitcoin bet goes sour

Indian budget session leaves Crypto industry disappointed

Instagram
Recently, J.P. Morgan, an American multinational financial services company, in its latest e-trading trends survey of 835 institutional traders, attempted to gauge market sentiments for the coming year.
On Thursday, one of the largest retail Indian chains, Reliance Retail, announced that they have started accepting the digital rupee at one of its store lines and plans to extend the rollout to all its businesses.
The past year was challenging for cryptocurrencies with the prolonged bear market and the collapse of firms but the investors have put their confidence in the assets.
The United Kingdom, with the advent of its new prime minister in 2022, was expected to play a tremendous role in the adoption and regulation of cryptocurrencies and digital assets in the nation.
Crypto by TradingView
Twitter Facebook Instagram LinkedIn
  • About
  • Careers
  • Advertise
  • Privacy
All rights reserved by Todayq Technologies PVT. LTD.

Type above and press Enter to search. Press Esc to cancel.

 

Loading Comments...
 

You must be logged in to post a comment.