2 November 2024
30 Percent Of Canadians Invest Actively In Crypto: Survey Reports
With Bitcoin and Ethereum remaining the most popular digital assets among Canadians, approximately one-third of Canada’s population has entered the cryptocurrency market.
Aiming to estimate the cryptocurrency sentiment in the country, Hardbacon, the financial technology start-up, surveyed Canada's adults. The study revealed that every third Canadian has allocated some funds in digital assets. Out of numerous adults, 28% of them replied that they have invested in digital assets. While 85% have exposure to Bitcoin, and 75% have to Ethereum.
Besides, most Canadians do not consider investing in virtual currencies as a safe strategy. As per the survey reports, 21% of people believe that buying stocks is more secure, while 65% pointed out government bonds are the safest option.
Although, investing in “meme stocks” such as Cineplex, AMC, and GameStop is a growing trend among Canadian citizens, as 13.3% of the participants admitted that they have diversified their portfolio. The survey even concluded that people between the age of 25 to 44 are more open to the idea of investing in meme stocks as 30% of them have already done that.
In addition, the fintech start-up also warned that purchasing these shares could be risky as their prices are often fueled by social media and so could be highly volatile.
Following another recent research, the residents of the second-biggest country, Landmass, have experienced a rising interest in digital assets in the last year. Moreover, out of 20,783 Canadians, 100,000 have googled “crypto” over the past 12 months. However, the numerical digits seem small, but it has represented an increased interest of 213% in a year.
Disclaimer: The author’s views and opinions are for informational purposes only and do not constitute financial, investment, or other advice.
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