67% of Canadians in the next five years would like to start getting paid in digital currencies, according to a survey conducted by the country’s largest consulting company Capterra.
Capterra analysts found that one in four Canadians they surveyed owns a cryptocurrency. Moreover, 58% of respondents first got acquainted with crypto-investments and acquired digital currency during the pandemic, when they were in isolation. Another 37% are ready to buy cryptocurrency in the near future.
Bitcoin and Ethereum are the most popular among Canadians, followed by Dogecoin, Litecoin and Cardano. Among the owners of cryptocurrencies, 34% are young people aged 18 to 22, another 41% are from 23 to 35 years.
Respondents who are skeptical of digital currencies were asked: “What is stopping you from buying cryptocurrencies?” Most of the respondents referred to the lack of knowledge. The other part answered that they fear the disappearance of the crypto industry due to government actions or the loss of people’s interest. Some Canadians cite the notable volatility of digital currencies.
The survey involved 1,008 adult Canadians (from a sample of 1,356 random people) who answered “yes” to the question “Do you know what cryptocurrencies are?”
The future of the crypto industry in Canada remains uncertain. In the middle of last year, the Central Bank of Canada made it clear that it sees cryptocurrencies as a threat to the country’s financial system.