Independent Reserve Cryptocurrency Index (IRCI) Singapore 2024

IRCI Singapore highlights and key stats

  • 89% of Singaporeans are aware of at least one cryptocurrency
  • 40% of Singaporean investors own or owned crypto in the last 12 months
  • 39% of Singaporeans view Bitcoin more favourably post-spot Bitcoin ETF approval
  • 73% of crypto investors hold Bitcoin
  • 41% of crypto investors put $500 or more per month into crypto
  • 64% of Singapore crypto investors report making a profit on their investments
  • 20% of Singapore wanted to invest in crypto but weren’t in a financial position to do so
  • 55% of Singaporeans believe crypto will be widely accepted by everyday people and businesses

Download the IRCI Singapore 2024 report

Download the report

What is the IRCI?

Now in its 4th year, the Independent Reserve Cryptocurrency Index (IRCI) is an annual survey of 1,500 Singapore residents conducted in partnership with Toluna, an independent consumer insights provider. The survey is a cross-sectional and unbiased sample of everyday Singapore residents, designed to represent the nation as a whole. The survey was conducted in February 2024.

The index is a single rating out of 100, designed to reflect attitudes towards cryptocurrency in 4 key areas: awareness, adoption, trust, confidence

Singapore’s index moved from 55 to 56 in 2024

The 2024 IRCI score reflects a positive shift in public perception towards cryptocurrency. While overall awareness and ownership might have dipped slightly, other key metrics indicate a growing sense of confidence and optimism in the market.

A higher proportion of Singaporeans turned a profit on their crypto investments. Additionally, there’s a decline in negative sentiment, with fewer people viewing crypto with dislike and suspicion. More Singaporeans believe in the long-term viability of the industry, painting a picture of increasing trust and acceptance. Furthermore, more individuals are likely to invest in crypto within the next year, strongly indicating a resurgence in adoption.

Singapore IRCI 2024  infographics



profit vs loss

12 months plan crypto mainstream adoption