• According to a survey, nearly 30% of Canadians are cryptocurrency investors

  • According to a recent study, nearly every third Canadian has invested in digital assets. Nonetheless, most locals are concerned about their crypto investments, with only 5% believing it is a safe strategy.

    In Canada, there are cryptocurrencies and ‘Meme Stocks.’

    Hardbacon, a financial technology start-up, conducted a survey among Canadian adults to gauge the country’s sentiment toward cryptocurrency. According to the findings, 28% of those polled said they had purchased digital assets. Looking more closely, 85 percent have some exposure to Bitcoin and 75 percent have some exposure to Ethereum.

    While the percentage may appear high, most Canadians do not consider investing in virtual currencies to be a safe strategy, with only 5% responding in the negative. Buying stocks is more secure, according to 21%, while government bonds are the safest option, according to 65%.

    Investing in “meme stocks” such as Cineplex, AMC, and GameStop is a growing trend among Canadians, with 13.3 percent admitting to diversifying their portfolio with such stocks. When it came to age, the poll found that those between the ages of 25 and 44 are more open to the idea of investing in meme stocks, with 30% already doing so.

    However, Hardbacon cautioned that purchasing these shares could be risky because their prices are frequently fueled by social media and thus could be highly volatile.

    Canadians Have Begun to Show Interest in Cryptocurrency

    According to another recent study, residents of the world’s second-largest country by landmass have increased their interest in digital assets significantly in the last year.

    According to the data, 20,783 Canadians out of 100,000 have googled “crypto” in the last year. Even though the figure appears small, it represents a 213 percent increase in interest in a year. In fact, the United States, which is ranked as the most crypto-ready country, trails behind with 14,796 such queries on the world’s largest search engine.

    It is worth noting that Canada has the second-highest number of crypto ATMs (1,464), trailing only the United States. According to the math, there is one of these machines for every 26,265 people. Given the country’s vast size, there is one cryptocurrency ATM for every 2.633 square miles. The United States ranked first with 17,436 machines, while Hong Kong has the highest density.

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