Canada

Cryptocurrency information about Canada

 



How many crypto owners in Canada?

It is estimated that 1.6 million people, or 4.1% of Canada’s total population, currently own cryptocurrency.(1)


Demographics of Canadian crypto-owners

A 2022 Capterra survey of 1,000 Canadian respondents showed that crypto use is more prevalent in younger demographics. Among the crypto owners, 34% are between 18 and 22 while 41% are between 23 and 35. (2)

 

 

Canada Crypto Market Sentiment

Receiving payment in crypto is gathering interest in Canada. The same survey by Capterra revealed that 62% of the participants are interested in being paid in crypto in the next five years. (3)

The surveyors also found that one out of four participants already own crypto, with 58% starting their crypto journey during the pandemic lockdowns when they had more time to do research and learn about digital assets. Of the respondents, 37% said that they are planning to buy crypto soon.

Canadian regulators have also generally maintained a flexible and innovative approach to regulation, as seen from their approval of crypto-based ETFs and the creation of a workable regulatory oversight and compliance structure under provincial securities legislation. (4) The country has a relatively supportive regulatory environment for cryptocurrency and blockchain technology, which has encouraged market growth.


 

Crypto’s rising popularity in Canada

    • Crypto Trading Firm Cumberland Can Trade Crypto With Canadian DollarsJan 2023
      Clients of Cumberland DRW – a prominent liquidity provider in digital assets – can now trade crypto denominated in Canadian dollars. This new capability, said Cumberland in a Twitter post, will reduce friction and simplify the transaction process for its trusted large institutional customers.