More than four in 10 respondents said it is too risky to invest.
Singaporeans revealed their top reasons behind their refusal to invest in cryptocurrency amidst events such as the bankruptcy of the crypto exchange, FTX.
This chart from Independent Reserve study showed that 45% are not keen to invest due to volatility.
Results also showed that there are not enough regulations or consumer protection (30%) and others (27%) said they lack interest.
Other reasons include it being too confusing (24%) and others believing that it is a scam (19%).
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