In Singapore, 57% of survey participants report holding cryptocurrencies, as outlined in the study conducted by Coinbase and Seedly.

According to a recent survey conducted by Coinbase and Seedly, 57% of Singaporean respondents hold cryptocurrencies. Additionally, there is a growing sentiment among Singaporeans that cryptocurrencies represent the future of finance. abstract

1. According to the Coinbase and Seedly report, 57% of respondents in Singapore are cryptocurrency holders.
2. In Singapore, what are the advantages of being a crypto trader, according to the Coinbase and Seedly report?
3. After obtaining the full license, the survey was conducted.

In Singapore, 57% of respondents are reported to be cryptocurrency holders according to the Coinbase and Seedly report.

In Singapore, the Coinbase and Seedly report reveals that 57% of respondents are crypto holders. Conducted by Seedly, a subsidiary company of MoneyHero Group, in collaboration with the crypto-exchange Coinbase, the survey interviewed 2,006 adults across all age groups in Singapore, with varying household incomes, between October 23, 2023, and November 15, 2023. Despite market volatility, the survey results indicate a persistent interest among Singaporeans in cryptocurrencies as an asset class. Specifically, while 46% of respondents express optimism about cryptocurrencies in 2024, 56% believe that cryptocurrencies represent the future of finance. Furthermore, the survey highlights a significant presence of cryptocurrencies in the region. Out of the 2,006 respondents, 56% stated that they own crypto holdings ranging from $1,000 to $24,999.

What are the benefits of being a cryptocurrency trader in Singapore, as highlighted in the Coinbase and Seedly report?

The Coinbase-Seedly report sheds light on Singapore residents' motivations and concerns regarding crypto trading. According to the report, the main reasons for engaging in crypto trading include seeking short-term gains (60%), revaluing capital through long-term investments (60%), and diversifying investment portfolios (56%). Conversely, reasons for abstaining from crypto trading include concerns about market volatility (57%), perceived high risk (53%), and regulatory uncertainties (45%). Furthermore, the survey reveals that staking activity is popular among Singaporeans, with 55% of crypto users having engaged in staking through centralized crypto-exchanges in the past year. Additionally, 38% expressed interest in staking via decentralized exchanges (DEX) or decentralized applications (dApps) within the scope of decentralized finance (DeFi).

The survey conducted subsequent to obtaining the full license.

Coinbase's current partnership with the survey on Singapore residents follows its acquisition of a full license in October 2023, authorized by the Monetary Authority of Singapore (MAS). This license, issued as a major payment institution, solidifies Coinbase's regulatory standing, allowing for an expanded range of digital payment token services catering to both retail and institutional customers in the region.