Singaporean women have been reported to outperform their male counterparts in crypto as regards crypto investment. Recent research by the Independent Reserve Cryptocurrency Index (IRCI) found that 76% of Singaporean women engage in profitable or break-even cryptocurrency trading, compared to 72% of men.
The study highlighted that crypto female investors are more optimistic about asset class compared to their male colleagues. Accordingly, 24% of female traders were reported to have distributed 20% of their investment portfolios to crypto.
Additionally, 48% of female respondents established interest in increasing their current crypto investments over the next year, while 43% said they intend to diversify into other tokens, DeFi, or NFT initiatives. Interestingly, 45% of female crypto investors set aside more than $500 per month for trading.
The survey also discovered that more women are investing in cryptocurrencies this year than in prior years. About 37% of women said they had crypto investments compared to 30% last year, On the other hand, 48% of men reported they had crypto investments compared to 49% in 2022.
Women’s high involvement in crypto was attributed to their social and ambitious nature. In contrast to 48% of males, 61% of female crypto investors said that their decision to invest in crypto was influenced by friends and family.
Singaporeans Remain Bullish on Crypto
Overall, Singapore as a nation has remained bullish in its stance on crypto. This is despite the current financial instability due to the fallout of some major traditional banks. In addition, the collapse of exchanges including FTX and Do-Kwon’s Terra/Luna last year also left the industry in a bad fate.
However, despite the loss of confidence in the industry, 43% of respondents hinted they had crypto investments compared to 40% in 2022. The study cited diversification of investment as the primary reason for investing in crypto. This shift implies that investors no longer view cryptocurrencies as a unique investment opportunity for a few dollars.
Furthermore, the high adoption rate of crypto among Singaporeans can be attributed to the government’s improved regulatory framework, aimed at protecting investors. Singapore’s regulatory agency has stated its willingness to monitor how the retail industry uses cryptocurrency, while still permitting transactions.
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