Nearly every Singaporean has heard of **cryptocurrency**, but fewer are diving in headfirst, a new survey by **MAS-licensed** crypto exchange, **Independent Reserve**, revealed.
Crypto awareness among Singaporeans has hit a new high of 94%. However, only **29%** currently own or have owned crypto in the past year, down from **40%** in 2024.
“This decrease in **crypto adoption** comes as Singaporeans take a more defensive financial posture against the backdrop of global macroeconomic uncertainty,” a detailed report noted.
The exchange surveyed **1,500 residents** across Singapore in February **2025**.
Survey Reveals Shifting Sentiments in 2025
Independent Reserve claims that many Singaporeans are reallocating toward **traditional investments**. For instance, the share of respondents keeping cash in savings or fixed deposits has risen to **49%** in 2025, up from **42%** in 2024.
“**Investors** are selectively managing risk and diversifying across **asset classes** in response to broader economic conditions,” the survey read.
Mark Wong, Head of Trading at Independent Reserve, explains that the **BTC/SGD** pair dropped **19.3%** from **S$143,000** (US$110,832) in January to mid-April. “This decline reflects a broader pullback from risk assets,” he noted.
Further, Wong said that Singapore’s crypto investors have shifted towards “high-quality assets” that maintain resilience in **volatile conditions**.
“**Painful lessons** from speculative tokens have taught investors to prioritise robustness over hype,” he said. “Survey data reveals that investors holding two to five cryptocurrencies are most likely to report gains or break even, whilst those with eleven or more cryptocurrencies fare worse.”
Besides, the trend is among the **younger crypto users** in Singapore, as per a report published last month by the **Straits Times**. Though the ownership rate has decreased, younger generations, particularly **Gen Z** and millennials, are leading cryptocurrency adoption, with around **40%** holding crypto.
Crypto adoption is rising in Singapore, and younger users are leading it. Businesses are adapting, though challenges like usability, security, and limited merchant support continue to hinder widespread use.#Blockchain #CryptoAdoptionhttps://t.co/9xPjW6dG76
— Cryptonews.com (@cryptonews) April 8, 2025
Singaporean Investors Believe Bitcoin Would Surpass $250K by 2030
However, Bitcoin has been emerging as a possible **safe haven** amidst stagflation concerns. **68%** of crypto investors in Singapore said they hold Bitcoin, and **23%** believe that the world’s largest crypto will surpass **$250,000** by **2030**.
Wong noted that **59%** of respondents favour Bitcoin over other crypto assets. “Even among **non-crypto owners**, it commands trust, with **52%** favouring Bitcoin over stablecoins (**48%**).”
Bitcoin set a fresh record at **$109,487.23** on Wednesday, after witnessing a rising **ETF inflow**. The crypto is trading at **$110.95** at press time.
Additionally, the survey revealed that **28%** of crypto investors hold a *memecoin*, with **43%** of Singaporeans aware of at least one memecoin.
“Memecoins are broadening the entry points into crypto. While they may not serve as core holdings, their cultural relevance has expanded the reach and accessibility of crypto for a new generation,” said **Lasanka Perera**, CEO of Independent Reserve.
The post Despite **94% Crypto Awareness**, Only **29%** of Singaporeans Hold Any: Survey appeared first on Cryptonews.
This HTML content provides an informative overview of the current state of cryptocurrency adoption in Singapore based on the Independent Reserve’s survey, formatted with appropriate headers and keywords for SEO. The information is structured to facilitate easy reading while maintaining key details.