Canada | 2022

Cryptocurrency Adoption and trends in Canada in 2022

4.1

%

of Canadians
own cryptocurrency

How many cryptocurrencies owners are there in Canada?

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

Demographics of Canadian cryptocurrencies-owners

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

 

Canadians' sentiment towards cryptocurrencies

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

The surveyors also found that one out of four participants already own cryptocurrencies, with 58% starting their cryptocurrencies 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 cryptocurrencies soon.

Canadian regulators have also generally maintained a flexible and innovative approach to regulation, as seen from their approval of cryptocurrencies-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.

 

Cryptocurrencies’s rising popularity in Canada

 

 

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