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Crypto ownership among Singaporeans has been rising across most age groups, according to a survey conducted between late January and February.
ST ILLUSTRATION: MANNY FRANCISCO
- Singaporeans, including older individuals, are increasingly investing in cryptocurrencies, driven by the desire for faster wealth accumulation amid economic uncertainties.
- Experts warn against uninformed crypto investments, highlighting the importance of education, risk management, and disciplined trading to avoid significant losses in a volatile market.
- Investors should use regulated platforms, diversify, secure their accounts, understand assets, and plan for inheritance to mitigate risks and ensure responsible participation.
AI generated
SINGAPORE - Investors young and old are piling into cryptocurrency, lured by seductive tales of instant millionaires, despite the wild swings, a slew of horror stories of savings lost to such investments and a lack of understanding of these assets.
