Most Canadians Willing to Be Paid in Digital Assets

Most Canadians Willing to Be Paid in Digital Assets

Two-thirds of Canadians have agreed to be paid in crypto.

According to a Capterra survey, 67% of Canadians are interested in being paid in crypto in the next five years. A total of 1.008 Canadian citizens over the age of 18 were surveyed.

The researchers also found that 25% of respondents own cryptocurrencies, 58% of whom purchased them during the pandemic. Another 37% plan to buy crypto in the foreseeable future.

Among the most popular digital assets, respondents named: 

  • Bitcoin (BTC) — 81%;
  • Ethereum (ETH) — 48%;
  • Dogecoin (DOGE) — 28%;
  • Litecoin (LTC) and Cardano (ADA) — 18%.

Canadians aged between 23 and 35 (41%) are the most active crypto users, followed by Canadians aged between 18 and 22 (34%). The respondents highlighted the following among the main motivating factors for acquiring cryptocurrencies: 

  • opportunity to make a profit — 58%; 
  • belonging to the innovative community — 48%;
  • support of decentralization philosophy — 44%;
  • privacy of financial transactions — 29%;
  • independence from the banking system — 26%. 

The key barriers that are keeping people from buying digital assets, respondents named lack of knowledge in this area (64%), fear of crypto disappearing (44%), and their high volatility (40%).

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