9 in 10 Singaporeans plan to increase crypto investments in 2022
They believe crypto's value will increase in the next five years.
Despite 60% of Singaporeans admitting to having a lack of understanding of cryptocurrency, nine in 10 of them still plan to increase their crypto investments in 2022.
Based on the survey by Milieu, almost one-third of Singaporeans own a cryptocurrency, with the majority of them holding on to it for trading and investment.
Half of Singaporeans also believe that the value of crypto will continue to increase within the next five years.
Whilst interest in crypto investments is high amongst Singaporeans, it only ranked third (14%) amongst the types of assets that they believe to be the most profitable, falling behind real estate (24%) and stocks (24%).
Meanwhile, those who hay yet to invest in crypto cite a lack of knowledge and the risks involved to be the main reasons behind their hesitance to own one.
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