Canadians are less likely than Americans to use or invest in cryptocurrencies, says a new survey released Tuesday.
The
Americans would also be more likely than Canadians to use cryptocurrencies to avoid cross-border banking fees (19 per cent vs 14 per cent), shelter their wealth from taxes (17 per cent vs 11 per cent), and to send remittances across national borders (14 per cent vs 11 per cent).
The proportions are similar to those polled in
Globally, 35 per cent of internet users surveyed, but just 24 per cent of Americans and 17 per cent of Canadians, said they're likely to invest in Bitcoin and alternatives as a short-term investment.
"Given the big differences in attitudes between Canadians and Americans towards cryptocurrencies, there may be diminishing political capital in the Canadian population at large for those who want to promote the idea that consumers will use cryptocurrencies instead of the loonie," stated
"However, in
"He is preaching to a relatively small choir on this topic," said Simpson.
The online poll conducted in November of more than 14,000 internet users in 20 countries says potential use is significantly higher among younger generations.
One in four Americans and 29 per cent of Canadians aged 18 to 34 said they are somewhat likely to use cryptocurrency in the next year for purchases. That compares with 22 per cent of Canadians aged 35 to 49 and six per cent of those 50 to 74 years old saying the same.
"Today, many young people feel blocked out of economic opportunity. Cryptocurrencies offer a message of hope and economic inclusion to those who feel the current system is somewhat rigged against them," added
"This may be why
The survey was conducted in
The online panel cannot be given a margin of error because internet panels are not considered to be truly random samples.
This report by
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