Reasons for investing in cryptocurrency Singapore 2023

Published by Lucas Romero, Mar 12, 2024
In a survey conducted on cryptocurrency in Singapore in 2023, 60 percent of respondents indicated that the main benefits they were hoping to gain out of crypto was short-term profit, and capital appreciation through long term holding/investment. In comparison, 18 percent of respondents invested to save money on remittances and payments.

Reasons for investing in cryptocurrency in Singapore as of November 2023

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Release date

December 2023

Region

Singapore

Survey time period

October 23 to November 15, 2023

Number of respondents

1,765 respondents

Age group

18 years and older

Special properties

among crypto familiars

Supplementary notes

Original question: "What benefits are you hoping to gain out of cryptocurrency?"

A crypto familiar is defined as a respondent who has selected one of the following options: “Currently own crypto”, “Previously owned, but not currently”, “Interested in owning crypto, but don’t currently own”, “Familiar with crypto but not interested”.

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