Canadians trail Americans in desire to use and invest in cryptocurrency, poll finds

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A new survey says Canadians are less likely than Americans to use or invest in cryptocurrencies.

The Ipsos survey says 24 per cent of Americans would use Bitcoin or other cryptocurrencies to purchase goods and services, compared with 18 per cent of Canadians.

Americans would also be more likely than Canadians to use cryptocurrencies to avoid cross-border banking fees, shelter their wealth from taxes, and to send remittances across national borders.

The proportions are similar to those polled in Europe, but significantly lower than those in Latin America, Asia-Pacific, the Middle East and Africa.

Globally, 35 per cent of internet users, but just 24 per cent of Americans and 17 per cent of their Canadian counterparts are likely to invest in Bitcoin and alternatives as a short-term investment.

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, with 40 per cent of Americans and 29 per cent of Canadians aged 18 to 34 somewhat likely to use cryptocurrency for purchases in the next year. 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.

This report by The Canadian Press was first published May 3, 2022.

The Canadian Press