Singapore’s cryptocurrency market is undergoing a significant transformation, as a recent survey indicates that investors are increasingly choosing trustworthy platforms instead of those offering the lowest fees. According to a joint survey conducted by MoneyHero and Coinbase, 61% of financially savvy investors in Singapore have invested in cryptocurrency, highlighting a shift in priorities where trust takes precedence over cost.
The survey revealed that Singapore’s crypto ecosystem is evolving, with a focus on regulated exchanges and security rather than merely seeking the cheapest option. Conducted among 3,513 retail investors, the results show that 58% consider themselves long-term holders, and 42% have maintained their investments for over two years.
Additionally, investors typically limit their cryptocurrency holdings to under 10% of their total portfolios, averaging three different tokens, indicating a balanced approach to risk and diversification.
Long-Term Investment Trends
The findings suggest deeper market adoption, with a significant 61% ownership rate among informed investors, marking cryptocurrency as a mainstream financial asset in Singapore. Moreover, 27% of non-investors expressed intentions to invest in the coming year, suggesting potential for continued growth in this sector.
While opinions on cryptocurrency’s nature were varied—44% consider it an asset, whereas 29% regard it as a speculative tool—the role of social media emerged as a crucial educational avenue for many, with 62% citing it as their primary information source.
MoneyHero and Coinbase release a new survey on Singapore retail investors.
Source: MoneyHero
Regulatory Dynamics
Singapore’s reputation as a financial center is bolstered by its favorable tax environment and comprehensive regulatory measures. The Payment Services Act of 2019 represents one of Asia’s first legal frameworks for cryptocurrency, clearly defining digital tokens.
Despite this progressive stance, Singapore enforces strict regulations, recently requiring local crypto firms to halt overseas activities, with significant penalties for noncompliance. Furthermore, the Monetary Authority of Singapore is working toward stronger regulations for stablecoins, ensuring a stable future for its financial landscape.
