The latest research from Singapore shows that women are outperforming men in the crypto space! 

First, female investor growth has surpassed their male counterparts. Women recorded a 7% increase from 2022 while the number of male investors dropped, the study reveals.

Female vs. Men Crypto Ownership
Female vs. Men Crypto Ownership Graph, Source: IRCI 2023 Report

Additionally, more (76%) women shared that their investments were profitable or yielding returns compared to 72% of men. This is the first time in IRCI SG’s history that females have surpassed their male counterparts.

Women vs. Men Investing Behaviour

The research also shows that women are more bullish when it comes to investing, with 45% allocating more than $500 per month for that purpose. Up to 24% of female investors shared that 20% of their assets were crypto. And 48% plan to invest more funds in crypto over the next year. 

In the “spirit of community” that blockchain is built on, more women are open to talking about crypto investments. The International Reserve found that 61% of female crypto investors’ investment decisions were influenced by friends and family. 

Motivation for Investing in Crypto

Ambition is many women’s strongest motivation, but the greatest motivation for 56% of women is the chance to diversify their investment portfolio, compared to 53% of men. A close 37% said that getting rich was why they chose to invest.

For newer investors, diversification (32%) was also a strong factor, but, 18% were more concerned about getting rich. Hence, they were keen on researching the time digital assets were on the market. 50% of this group of people were mainly influenced by family, friends, and the media.

Motivations for Investing in Crypto
Motivations for Investing, Source: IRCI 2023

Increasing Trust in Crypto 

Crypto is gaining trust among more Singaporeans for many reasons. More survey respondents cited clarity to government regulation. Younger responders believe that, with proper education, more citizens can understand crypto and be more open to investment.

Investor Preference: Bitcoin over Altcoins

This year, more investors are choosing Bitcoin over altcoins, thanks to its stability and returns. Compared to 2022, 60% preferred Bitcoin (an increase of 6%). Bitcoin has a strong reputation and a track record. Furthermore, it has a market capitalization exceeding all other coins Hence, investors are more comfortable investing in it.

Preferred Cryptocurrencies
Preferred Cryptocurrencies, Source: IRCI 2023

Final Thoughts

One interesting thing about this report is the fact that education is a key factor in more crypto adoption – even among women. It goes to show that various “women in blockchain” initiatives put together by organizations, like the EU, and brands, like Nars and Boss Beauties, are paying off. 

We will have more women actively exploring and investing in the crypto space soon. That’s exciting to think of. Not only will it bridge the gender gap and encourage financial inclusion, but it will also bring new innovations to the industry. We hope to hear more empowering news like this!