The pandemic has advanced the adoption rate of digital currencies at a pace even the finance nerds never expected. The rate of adoption is especially high among the younger generations.
Since today’s parents are almost 100% Gen Z and Millennials, we got curious. How involved are today’s mothers in the crypto world?
We posted 3 polls in theAsianparent app among 6 different markets (Singapore, Philippines, Malaysia, Thailand, Vietnam, and Indonesia) to see the involvement of mothers in cryptocurrencies.
Below are the questions in the polls:
- Are you familiar with cryptocurrencies?
- Do you think investing in cryptocurrencies is a good choice?
- Do you have any cryptocurrency investments?
Philippines
The Philippines is one of the first countries in Southeast Asia with citizens that have embraced cryptocurrencies with a warm welcome.
Crypto in the Philippines has made itself popular in the form of NFT games. But are Filipino mothers of today a part of the population that’s embracing this new trend?
Are you familiar with cryptocurrencies?
When asked if they are familiar with cryptocurrencies, 59% of Filipino moms have said that yes, they hear about it.
10% of these moms already have investments in crypto. In total, 94% of Filipino moms have some type of involvement or curiosity in cryptocurrencies since 25% of them are not really familiar with crypto, but interested in learning.
Only 6% of Filipino moms don’t want anything to do with the industry. But here comes the tough question. Do Filipino moms actually think that investing in crypto is a good decision?
Do you think investing in cryptocurrencies is a good choice?
58% of Filipino moms believe that investing in cryptocurrency is a good choice. It seems that the popularity of crypto in the Philippines has given Filipino moms an idea about the potential of digital currencies.
One mom commented, “I think they say it’s going to be the new currency of the future? Not sure.”
While another mom has mentioned, “I don’t know how to use cryptocurrencies yet, but I always hear about it,” which implies that she wants to learn how to invest at some point because of the good things she hears about it.
Out of all 6 Southeast Asian countries, Filipino moms are the most positive about cryptocurrencies. This can be attributed to the fact that Play-to-Earn NFT games have offered a new source of income to many Filipinos in the past year.
But how many Filipino moms actually have investments in cryptocurrency?
Do you have investments in cryptocurrency?
15% of Filipino moms currently have crypto investments. 28% don’t have them yet but are interested in investing. Perhaps, they’re still trying to learn the ropes.
Filipino moms are the most positive about crypto among other Southeast Asian mothers
15% may not seem like a big number, but Filipinos are not usually expected to have a lot of disposable income for high-risk investments because of the current economic state in the Philippines. For moms with families, managing finances is even tougher because of children. Hence, to most, the fact that 15% of Filipino moms already have investments in crypto is surprising.
During the time where a lot of incomes were being affected by the pandemic, crypto was at its height, leading Filipinos to explore the crypto world as a source of income. Now, it seems that they view higher risk investments as a way to climb up the economic ladder and it’s a risk more and more Filipino families are willing to take. After all, it’s hard not to be positive in the longest bull run of all time.
51% of moms don’t have investments and have no plans to invest yet, but knowing how positive Filipino moms are about crypto, we wouldn’t be surprised if this number decreases further in the coming months. (If the bull run continues)
If your brand has interests in taking advantage of Web 3.0 early, now is the time to make moves on Filipino moms. Offering them free tokens or NFT art related to your brand would be a great way to put yourself in their good graces, as well as offer you some unique marketing methods.
Indonesia
Indonesia has become quite popular in Indonesia over the past year. However, the Indonesian government has banned cryptocurrencies as a form of payment, only accepting them as an asset class. According to the Indonesian Ulema Council, cryptocurrency as a form of payment is not permissible under Islamic Law.
Does this affect Indonesian mothers’ involvement in crypto?
Are you familiar with cryptocurrencies?
The majority of Indonesian mums have already heard about cryptocurrencies. However, only 4% have investments. 18% of them have an interest in learning about crypto though.
However, plenty of Indonesian mums also doesn’t want anything to do with crypto. 37% have not yet heard about crypto, nor do they have interests to learn about it.
Does this mean they don’t think investing in crypto is a good idea?
Do you think investing in cryptocurrencies is a good idea?
17% of Indonesian mothers believe that investing in cryptocurrencies is a good choice. However, a lot of mums in the comments have said that they don’t really understand it yet.
As for the 51% who don’t believe in crypto, there are a lot of different opinions.
Plenty of Indonesian mums believe that investing in gold, properties, and the likes are much better forms of investment.
While for other mums, Religion is a factor. One mum commented, “In Islam, it’s HARAM.”
Given this information, how many Indonesian mothers actually have investments in the form of crypto?
Do you have investments in cryptocurrency?
Unfortunately, only 4% of Indonesian mums have investments in crypto and only 8% have an interest in investing.
The good thing about this is, most Indonesian mums are actually familiar with cryptocurrencies. Perhaps, they’re not so interested in it now, but the potential is definitely there.
Right now, if your brand is related to digital currencies or if you want to involve your brand in the industry, the best thing to do with Indonesian mums is educate them first before persuading them to involve themselves in crypto.
Vietnam
Cryptocurrency had a strong 2021 in Vietnam. Despite the government ban on the use of cryptocurrency for payments, crypto is still especially popular as a form of investment.
Are Vietnamese mothers also a part of this trend?
Are you familiar with cryptocurrencies?
As expected, a lot of Vietnamese mums are familiar with cryptocurrencies already (51%). While 12% of them already have investments. 20% are not familiar with crypto but would like to learn more.
However, there are still some mums who don’t want anything to do with crypto. In the comments, we found out that this is because some of them have never heard of crypto before.
But the good news is that the majority of them are aware of what crypto is, with results similar to the Philippines. Does this mean they think investing in crypto is a good choice?
Do you think investing in cryptocurrencies is a good choice?
Upon asking them the question, it was revealed that 35% of Vietnamese mothers think that investing in crypto is a good idea. However, despite having similar awareness to the Philippines, 52% still don’t believe that crypto is a great investment.
Looking at the comments, there are mixed opinions from Vietnamese mums.
One mum mentioned that she doesn’t know about the field of crypto yet, so she doesn’t know if investing in it is a good idea or not.
Some mums are saying that crypto is very risky, while some say that it IS risky but can also offer high rewards.
Since the economy of Vietnam is not in a good place at the moment, it’s possible that a lot of mothers think that investing in crypto is not a good choice because of its volatility, making it more popular among younger Vietnamese citizens with no families to support.
Do you have any investments in cryptocurrency?
Despite having more mums that are negative about investing in crypto, the percentage of Vietnamese mums who have investments in crypto is still higher than their neighbouring Southeast Asian countries. 25% have investments, while 18% have an interest in investing.
Do you think Vietnamese mums will catch on as the trend goes on?
Malaysia
Cryptocurrency in Malaysia has also been very popular to the point where even crypto crimes have experienced a spike.
For mums with families to support, it’s not very reassuring when a high-risk investment has crime links. So, right now, how involved are Malaysian mums in crypto?
Are you familiar with cryptocurrencies?
36% of Malaysian mums are familiar with crypto and have been hearing about it, but only 2% have actual investments. However, 15% have the interest to learn more about crypto.
Despite Malaysia being a crypto welcoming nation, a lot of Malaysian mums still have not yet heard about crypto nor are interested in it.
But do they think that investing in crypto is a bad idea?
Do you think investing in crypto is a good choice?
18% of Malaysian moms believe that investing in crypto is a good choice. However, 51% think otherwise.
In the comments, one of the mums said that crypto is not good for her because she’s not knowledgeable enough in it to study the charts involved when investing in crypto.
Interestingly, there are Malaysian mums who don’t even think that crypto is a real currency, hence, it’s not a good investment.
While other mums simply have not heard about crypto in the past and don’t have any opinion about it.
Do you have any investments in cryptocurrency?
6% of Malaysian mums have investments in crypto while 11% have the interest to invest. It’s safe to say that Malaysian mums are not as on board with Web 3.0 as countries like Vietnam and the Philippines yet.
Like Indonesia, the best way to deal with this is by educating Malaysian mums first, if your brand wants to involve people in crypto.
Thailand
Last year, China banned crypto mining. As a result, the crypto mining industry has boomed in Thailand instead.
Is this sudden rise in crypto activity in the country enough to influence Thai mums into involving themselves in the crypto market?
Are you familiar with cryptocurrencies?
26% of Thai mums are already familiar with cryptocurrencies because they hear about it, while 8% already have investments in crypto. Meanwhile, 22% are not yet familiar but have an interest to learn more about crypto.
On the other hand, 44% have not yet heard about crypto nor are interested in it. The recurring question is, what does this say about Thai mums’ opinion on crypto investments
Do you think investing in crypto is a good idea?
Despite the rise in crypto crimes, Thai mums are still very much positive about cryptocurrencies. 38% of them believe that investing in crypto is a good choice. They’re not as positive as Filipino moms yet, but they’re getting there.
29% don’t believe that crypto is a good investment, while 33% have other opinions.
One of the mums said that if you’re fast and you study the market well, you will be able to make good profits. But for her, the risk is too high. Hence, she prefers investing in stocks better.
While another mum said that it depends on each individual’s risk tolerance. Good point!
The comments show how there are a lot of mums in Thailand who are highly knowledgeable when it comes to investments and crypto. But is it enough to make them actually invest?
Do you have any investments in cryptocurrency?
Despite Thai mums’ positivity about crypto investments, only 10% have actual investments among them, but 20% have the interest to invest.
The numbers might be low now since, after all, we’re still in the early stages of adoption. But the future of Web 3.0 is certainly bright in Thailand and among Thai mums.
Singapore
Singapore has ambitions to become a global crypto hub. According to Ravi Menon from the Monetary Authority of Singapore, they are “interested in developing crypto technology, understanding blockchain, smart contracts, and preparing themselves for the Web 3.0 world.”
Are Singaporean mothers as interested in crypto as their country? Let’s find out.
Are you familiar with cryptocurrencies?
Almost 70% of Singaporean mums in theAsianparent app have some involvement with cryptocurrencies. 33% have been hearing about crypto, while 20% are not yet familiar with the topic but are interested in learning more about it.
Among these mums, 16% have actual investments in the crypto market.
However, despite the country’s big interest in Web 3.0, 32% of mums are still not interested at all in crypto. Do you think their minds will change soon? Let’s take a look at how SG mums view crypto investments at the moment.
Do you think investing in crypto is a good choice?
Interestingly, only 20% of Singaporean mums think that investing in crypto is a good idea.
It’s possible that some of the mums who disagree simply don’t have enough knowledge about crypto to be positive about investing in it themselves. Recent surveys have shown that even though younger Singaporeans are more eager to invest these days, a third of them still express anxiety.
In this case, it makes a lot of sense since studies have also shown that Singaporean citizens are among the most financially literate in Asia. It’s tough to be confident when investing in a high-risk market like crypto since the market is relatively new and has highly unpredictable elements.
One of the mums commented, “Crypto is volatile. It’s good to invest only if you know how to manage your risks or if you have a lot of disposable income to spare.”
What do you think is the real reason why a lot of Singaporean mums don’t view crypto as a good investment?
Do you have any cryptocurrency investments?
17% of theAsianparent app’s Singaporean mums have investments in crypto, while 17% are thinking about investing.
In conclusion, plenty of Singaporean mums have interests in crypto, but perhaps, the market is just too uncertain for them right now.
Nevertheless, crypto is still a hot topic in SG and including Web 3.0 elements in your marketing campaign can be a great and unique way to market to mums this year.
