Singaporean women ‘outperforming’ men in crypto trades, survey reveals

2 years ago

Singaporean women are somewhat much apt to marque wealth oregon astatine slightest interruption adjacent connected their crypto investments than their antheral counterparts, according to a survey from cryptocurrency speech Independent Reserve.

Published connected March 28, the yearly Independent Reserve Cryptocurrency Index (IRCI) survey was conducted successful February and polled “1,500 mundane Singapore residents connected their attitudes toward cryptocurrency.”

As per the survey data, 76% of women reported either making wealth oregon breaking adjacent connected their crypto investments, compared to conscionable 72% of men.

“Since the motorboat of IRCI successful Singapore successful 2021, this is the archetypal clip that females person reported outperforming their antheral counterparts,” the survey results read.

The survey has besides recovered an summation successful women participating successful crypto investments this year, with 37% of women surveyed saying they had crypto investments, accounting for a 7 percent constituent summation compared to the erstwhile year.

On the different hand, 48% of men said they took portion successful the activity, which was down 1 percent constituent compared to the 2022 IRCI.

A important fig of women surveyed besides outlined bullish stances towards crypto, with 24% stating that they had “allocated much than 20% of their concern portfolio to this plus class.”

“Over the adjacent 12 months, 48% program to further put successful their existing portfolio portion 43% mean to diversify into different tokens, Defi oregon NFT projects,” the study adds.

The IRCI besides provides a people for the wide assurance level successful crypto ranging from 0 to 100. In this year’s edition, Singaporean assurance scored 55 retired of 100, down from 61 the twelvemonth prior.

This was mostly attributed to the unsmooth twelvemonth crypto had successful 2022, arsenic several large crypto firms went bankrupt, portion the illness of Do Kwon’s Terra/LUNA project besides sent shockwaves done the sector.

“2022 was a challenging clip for the cryptocurrency industry, owed to respective macroeconomic factors. The illness of Terra-Luna and the FTX fallout has understandably led to a nonaccomplishment of assurance and spot successful the industry,” said Lasanka Perera, the CEO of Independent Reserve Singapore.

However, contempt assurance shaking, crypto adoption did inactive increase, with 43% of respondents stating they had crypto investments, compared to 40% the twelvemonth prior.

Additionally, a important fig of respondents indicated that they had agelong word assurance successful crypto, with 48% of each crypto investors stating that they program to summation their existent portfolios.

“As caller planetary fiscal events proceed to unfold, galore whitethorn besides re-evaluate their dependence connected accepted fiscal institutions to safeguard their wealth and crook to alternate assets specified arsenic Bitcoin to hedge against slope defaults and currency debasement,” Perera noted, adding that:

“It is encouraging to spot that optimism towards the semipermanent benefits of cryptocurrency remains beardown successful Singapore and that investors who follow a semipermanent presumption are reaping rewards.”

Perera besides suggested that portion of the Singaporean crypto investor’s semipermanent assurance was owed to the government’s well-established regulatory frameworks for the sector.

“Singapore has 1 of the clearest and robust regulations for cryptocurrencies, which gives investors an added assurance of dealing with trusted players. As Singapore continues to stay unfastened to innovation successful integer assets, acquisition remains important arsenic consciousness and adoption of cryptocurrencies among residents grow,” the CEO stated.

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