Preferred Ways to Store Cryptocurrency Among Singaporeans 2024

Singapore’s cryptocurrency storage preferences reflect a strong inclination toward mobile wallets and apps, with 37.3% of respondents using them to store their digital assets. This trend aligns with Singapore’s highly digitalized financial ecosystem, where mobile banking and fintech apps are already widely adopted. Mobile wallets provide convenience, accessibility, and security, allowing users to manage their crypto holdings seamlessly while maintaining control over their private keys.

Meanwhile, cryptocurrency exchanges rank second at 30.31%, indicating that a significant portion of users still prefer the convenience of keeping their assets on trading platforms. This preference is likely driven by ease of access, as exchanges enable instant trading, staking, and fiat on-ramps, making them a one-stop solution for crypto investors. However, with heightened awareness of security risks such as exchange hacks and withdrawal restrictions, Singaporeans may increasingly seek hybrid solutions—using exchanges for trading but securing long-term holdings in private wallets. As Singapore’s regulatory framework continues to evolve, consumer confidence in crypto storage solutions will likely be influenced by compliance measures, insurance options, and the growing emphasis on self-custody and decentralized finance (DeFi) alternatives.

For deeper insights, discover cryptocurrency awareness in Singapore, preferred payment methods in Singapore, Singapore’s cryptocurrency adoption rate.