About half a million (5%) residents of the canadian province of Ontario are owners of bitcoin or other crypto-assets. These are the results of a study conducted in the most densely populated province of Canada by the investment Office of the securities Commission of the region, writes CCN.
Most often, interest in the cryptocurrency industry is shown by men aged 18 to 34 years. About half of them spent less than $1 thousand on the purchase of cryptocurrency, 90% spent less than $10 thousand. 9% of investors (almost 50 thousand people) invested more than $10 thousand in crypto assets.
"The survey results show that the vast majority of Ontario residents look at crypto assets with caution. Only a small percentage owns them, and most often they do not spend significant amounts of money to purchase them," the document says.
A significant part of the investment was made from existing savings. Some also borrowed money or used credit cards, of which more than two-thirds fully repaid the loans.
The survey also revealed that about 1.5% (about 170 thousand) of Ontario residents took part in the initial token placement (ICO). Information about them investors received by e-mail, from online advertising, from friends and relatives, as well as through social networks.
About 46% of respondents indicated that they have purchased their assets on trading platforms, while 28% have filed them. About 19% used cryptocurrency ATMs to receive assets, and 18% received them for free, for example, through airdrop. Another 18% received cryptocurrencies as payment for goods or services, and 16% — during the ICO.
For the purchase of crypto-assets, Ontario residents more often used trading platforms in the United States (48% of respondents), about 32% used trading platforms based in Canada. Also popular are platforms based in the UK and Hong Kong.
The survey also showed that residents of the province have an idea about cryptocurrencies, but can not explain the principles of the technology. Ontario residents know most about bitcoin — 81% say they knew about it. Only a quarter (25%) of respondents heard about Bitcoin Cash. The number of people aware of Litecoin was 13%, and only 11% of respondents know about the second most popular cryptocurrency Ethereum.
Earlier, the state energy company Hydro Quebec presented a plan to the authorities of the canadian province of Quebec, which will determine the order of work with local cryptocurrency miners.
It's really amazing to learn that not many people own cryptocurrencies in Ontario. With the look of things, not many would as time goes on.
As time goes by and by, many people look at crypto with more caution because of its high volatility and unpredictable nature.
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