Home
News
- Almost one-third of Canadians have invested in digital assets
- When it comes to cryptocurrency, 85 percent have some exposure to Bitcoin, and 75 percent have some exposure to Ethereum
- When it comes to cryptocurrency, 85 percent have some exposure to Bitcoin, and 75 percent have some exposure to Ethereum
According to a recent study, nearly every third Canadian has set aside some money for digital property. However, the majority of residents are concerned about their crypto investments, since only 5% of them believe it is a secure method. The cryptocurrency market has attracted about one-third of Canadians, with Bitcoin and Ethereum being the most popular assets. According to a recent study, nearly one-third of Canadians have invested in digital assets. Nonetheless, the majority of locals are concerned about their crypto investments, with only 5% of them believing it is a safe option.
Canada’s Cryptocurrencies and Meme Stocks
Hardbacon, a financial technology start-up, conducted a survey of Canadian adults to gauge the country’s cryptocurrency sentiment. According to the findings, 28% of those polled said they have purchased digital assets. When it comes to cryptocurrency, 85 percent have some exposure to Bitcoin, and 75 percent have some exposure to Ethereum.
While the figure may appear high, the majority of Canadians do not believe that investing in virtual currencies is a safe plan, as only 5% of those polled said so. According to 21% of respondents, buying stocks is more secure, while government bonds are the safest alternative for 65%.
Surprisingly, investing in meme stocks like Cineplex, AMC, and GameStop is becoming more popular with Canadians, with 13.3 percent admitting to diversifying their portfolio with them. When it came to age, the poll found that people between the ages of 25 and 44 are more open to the notion of investing in meme stocks, with 30% of them having done so already.
Hardbacon cautioned, however, that buying these stocks could be extremely dangerous because their prices are frequently pushed by social media and hence can be quite unpredictable.
Canadians Have Began to Show Interest in Cryptocurrencies
According to a recent study, people of the world’s second-largest country by landmass have increased their interest in digital assets dramatically in the last year.
According to the data, 20,783 Canadians out of 100,000 have googled cryptocurrency in the last year. Even though the number may appear insignificant, it represents a 213 percent rise in interest in a year. In fact, the United States, which is recognized as the most crypto-ready country, trails behind with 14,796 such queries on Google.
It’s worth noting that Canada has the second-highest number of crypto ATMs in the world (1,444), after only the United States. According to the calculations, one of these machines exists for every 26,265 humans. Given the country’s vast size, one crypto ATM is found every 2.633 square miles. With 17,436 machines, the United States came out on top, but Hong Kong had the highest density.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
