Investors in digital assets in Singapore prefer Ethereum, while Bitcoin is only the second-most popular coin. This is according to a study by cryptocurrency exchange Gemini, the financial platform Seedly, and the analytics service CoinMarketCap.
The survey was conducted among 4,348 adult citizens of the country. According to the results, 2,862 respondents (67%) hold cryptocurrencies in their portfolios. Of these, 2,236 (78%) invested in Ethereum, 1,975 (69%) in Bitcoin, and 1,141 (40%) in Cardano (ADA).
According to the results, 81% of respondents invested in cryptocurrency for the long term, while 58% are oriented toward short-term trades.
According to the researchers, the average annual income of study participants among men ranges from $45,000 to $55,000, among women—from $55,000 to $75,000.
In addition to Bitcoin and Ethereum, women favour XRP tokens from Ripple and the Polkadot (DOT) project. Men more often trade the stablecoin USDT from Tether.
Two-thirds of the 2,862 respondents who invested in digital assets did so because of COVID-19. In May, analysts at The Economist Intelligence Unit stated that the pandemic accelerated the adoption of cryptocurrencies.
Among the constraining factors, researchers cited a lack of knowledge and understanding, high risks and insufficient regulatory oversight.
Earlier, the Gemini bitcoin exchange found that about 63% of Americans are interested in digital assets, though they do not own them. More than half of the respondents were women.
Bitcoin proved to be the most recognisable coin among US citizens. In second place is the meme cryptocurrency Dogecoin, followed by Ethereum.
Gemini — 2021 State of Crypto in the Singapore by ForkLog on Scribd
Subscribe to ForkLog news on Telegram: ForkLog Feed — the full news feed, ForkLog — the most important news, infographics and opinions.