Interest in Cryptocurrency Investments Decreases in Canada, Study Shows - Latest cryptocurrency news

Interest in Cryptocurrency Investments Decreases in Canada, Study Shows

A study conducted in Canada reveals that the interest of citizens in cryptocurrency investments has significantly decreased compared to last year. As belief in cryptocurrencies declines as an important factor in the economy, the percentage of those who regret making these investments has increased from 68% to 77%.

According to the findings of the “2023 Crypto Asset Survey” conducted in collaboration between the Ontario Securities Commission and Ipsos in May, skepticism towards cryptocurrencies among Canadians has increased. The 2,360 participants in the survey represent the Canadian population in terms of gender, age, and region. The percentage of cryptocurrency investments has dropped from 13% to 10%.

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The majority of the country’s cryptocurrency investor profile consists of full-time working men between the ages of 25 and 44 who have postgraduate education. While the percentage of Canadians who can identify cryptocurrencies has increased from 51% to 54%, the percentage of those who believe it will play an important role in the future has decreased from 49% to 34%.

The percentage of those who regret buying cryptocurrencies has increased to 77%, indicating that these investments are mostly made for speculative purposes or as gambling. The perception of cryptocurrency investments as long-term investments has also decreased from 29% to 20%.

Centralized cryptocurrency exchanges (CEX) are the most preferred platforms for Canadians to buy cryptocurrencies, with a usage rate of 52%. Individuals between the ages of 18 and 34 showed an increase in the percentage of cryptocurrency purchases through DEX or ATMs compared to 2022.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
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