Singapore clinches 10th spot as most crypto aware country

The country also topped in searches involving cryptocurrency.

Singapore is currently the tenth most crypto aware country, according to a study released by BrokerChooser.

Included in the metric are the total number of crypto searches per 10,000 people, number of crypto owners, number of crypto owners as a percent of the population, score on the global crypto adoption index and crypto awareness score. 

Singapore topped in searches involving cryptocurrency, as a value of 429 crypto searches per 10,000 people was recorded.  

A total of 121,854 users were reported to have crypto, which represents 2.08% of the entire population. 

The 2020 global crypto adoption index, meanwhile, is made up of four factors: On-chain cryptocurrency value received, weighted by purchasing power parity (PPP) per capita, On-chain retail value transferred, weighted by PPP per capita, Number of on-chain cryptocurrency deposits, weighted by number of internet users and Peer-to-peer (P2P) exchange trade volume, weighted by PPP per capita and number of internet users.

Based on these, Singapore had a global crypto adoption index, the highest being 1, of 0.102.

 Overall, the crypto awareness score, made by giving each country a normalised score out of 10 and getting an average, put the country at 3.72. 

Ukraine, Russia and the United States, meanwhile, took the top three spots with scores of 7.97, 7.46 and 6.03, respectively, in the crypto awareness score.