Independent Reserve Survey, Singaporean Women Are Superior In Crypto Investment Than Men

Singaporean women are better off making money on their investment in cryptocurrencies. (photo: dock. istock)

JAKARTA - A survey from the cryptocurrency exchange Independent Reserve states that Singaporean women are slightly better off making money or at least restoring their investment in cryptocurrencies than their male counterparts.

The survey results were published on March 28 as the annual Independent Reserve Cryptocurrency Index (IRCI), which was conducted in February and interviewed "1,500 Singaporeans daily about their attitude towards cryptocurrencies".

According to the survey data, 76% of women reported making money or restoring their investment in cryptocurrencies, compared to only 72% of men.

"This is the first time women have reported better results than their male counterparts since the IRCI launch in Singapore in 2021," the survey said, quoted by Cointelegraph.

The survey also found an increase in women's participation in crypto investments this year, with 37% of women surveyed saying they have crypto investments, up 7 percentage points compared to the previous year.

On the other hand, 48% of men say they participated in the activity, which would be down 1 percentage point compared to IRCI 2022.

Several women surveyed also provide a positive view of crypto, with 24% stating that they have "allocated more than 20% of their investment portfolios to this asset class."

"Over the next 12 months, 48% plan to further expand their portfolio while 43% intend to diversify to other tokens, DeFi or NFT projects," the report added.

IRCI also provides scores for the overall level of confidence in crypto which ranges from 0 to 100. In this year's edition, Singapore's trust reached 55 out of 100, down from 61 years earlier.

This is mainly due to a difficult year for crypto in 2022, when several large crypto companies went bankrupt, while the collapse of the Terra/LUNA project, Do Kwon, also rocked the sector.

"The year 2022 is a challenging time for the crypto industry, due to several macroeconomic factors. The collapse of Terra-Luna and FTX fallouts naturally causes a loss of trust and trust in the industry," said Lasanka Perera, CEO of the Independent Reserve Singapore.

However, despite the shaken confidence, crypto adoption continued to increase, with 43% of respondents saying they had crypto investments, compared to 40% of the previous year.

In addition, large numbers of respondents indicated that they have long-term trust in crypto, with 48% of crypto investors stating that they plan to increase their portfolio.