Cryptocurrency

Bitcoin

<ul class="Summary">
 <li>Canadian interest in crypto investments has significantly decreased.</li>
 <li>Canadians are becoming less inclined to see cryptocurrencies as important.</li>
 <li>The regret for purchasing cryptocurrencies has risen to 77% this year.</li>
</ul>
According to recent research, Canadian interest in cryptocurrency investments has significantly decreased compared to the previous year. Currently, Canadians are less inclined to view cryptocurrencies as a significant factor in the economy or to foresee them becoming more important in the future, with the proportion of those regretting their cryptocurrency purchases increasing from 68% in 2022 to 77% this year.
<h2 style="text-align: justify" id="strong-key-findings-from-the-cryptocurrency-research-strong">Key Findings from the Cryptocurrency Research</h2>
The Canada Operations Support Centre (OSC) shared the results of the noteworthy “&lt;a href="http://en.coin-turk.com/<a href="https://newslinker.co/category/finance/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">investors</a>-awaiting-july-inflation-data-from-the-us/”&gt;Crypto Assets Survey 2023″ on November 29. The survey, conducted in May of this year in collaboration with Ipsos, included a proportional section of the population in terms of gender, age, and region, covering 2,360 Canadians. The most significant finding of the research is the growing skepticism towards cryptocurrencies in the country.
<img decoding="async" class="aligncenter size-full wp-image-283933" src="https://coin-turk.com/wp-content/uploads/2023/12/Kanada-Kripto-Para-Bitcoin-Altcoin.jpeg" alt="" width="1280" height="720">
One of the most important findings from the research is the decrease in Canadian cryptocurrency investments from last year. This rate, which was 13% in 2022, has fallen to 10% in 2023. Demographically, the majority of cryptocurrency investors in the country are full-time working males aged 25-44 with postgraduate education. The survey shows that the percentage of Canadians who can make a basic definition of cryptocurrency increased from 51% in 2022 to 54% in 2023. However, the belief in cryptocurrencies playing a significant role in the future has dropped from 49% in 2022 to 34% in 2023.
77% of respondents expressed regret for purchasing cryptocurrencies more than a year ago. This rate was 68% in 2022. The most cited reason for purchasing cryptocurrencies in 2023 and 2022 was speculative investment or gambling. Furthermore, the proportion of those viewing cryptocurrencies as a long-term investment dropped from 29% in 2022 to 20% in 2023.
<h2 style="text-align: justify" id="strong-canadians-continue-to-use-centralized-crypto-exchanges-strong">Canadians Continue to Use Centralized Crypto Exchanges</h2>
Centralized cryptocurrency exchanges (CEXs) remain the most popular platforms for buying <a href="http://en.coin-turk.com/unraveling-the-bull-signal-in-cryptocurrency-what-does-2022-tell-us/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC) and altcoins among Canadians, with a usage rate of 52%. Of the respondents, 19% purchased their cryptocurrencies from a decentralized cryptocurrency exchange (DEX), 16% through mining or staking, 14% for free, 14% through token production or ICOs, and another 14% through friends, family, or colleagues.
In 2023, the rate of purchasing cryptocurrencies through a DEX or ATM increased, especially among individuals aged 18-34, when compared to 2022. The rate of buying cryptocurrencies through a DEX, which was 18% in 2022, rose to 25% in 2023. The rate of purchasing cryptocurrencies via crypto ATMs, which was measured at 8% in 2022, increased to 15% in 2023. Continue Reading: <a href="https://en.coin-turk.com/declining-interest-in-crypto-investments-among-canadians/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/declining-interest-in-crypto-investments-among-canadians/</a>

Declining Interest in Crypto Investments Among Canadians

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