Canadians Exhibit Waning Crypto Enthusiasm in 2023

The OSC’s “Crypto Assets Survey 2023” reveals a decline in Canadian interest in cryptocurrency investments. Ownership has dropped from 13% to 10%, with skepticism prevailing. Discover the changing dynamics and attitudes towards crypto in Canada.

A recent survey by the OSC highlights a shift in Canadians’ attitude towards cryptocurrency investments. Ownership has dwindled from 13% in 2022 to 10% in 2023, with a notable decline in the belief that crypto will play a crucial role in the future economy, dropping from 49% to 34%. The majority of crypto owners are men aged 25-44, with an undergraduate degree or higher and engaged in full-time employment.

While the understanding of crypto has improved, with 54% capable of providing a fundamental definition in 2023 compared to 51% in 2022, regret among crypto asset owners has surged to 77%, up from 68% in the previous year.

Interestingly, the primary motive for purchasing crypto remains speculative, with 52% acquiring assets through trading exchanges. However, the number of long-term investors has decreased from 29% to 20% in 2023. The report also highlights a shift in acquisition methods, with a rise in decentralized exchanges and ATMs, particularly among the 18-34 age group.

Disclaimer: The information provided in this article is for educational and informational purposes only. It should not be considered financial advice from Cryptozi or any other entity. We want to emphasize that if readers use the content or services mentioned in this article, Cryptozi is not responsible for any resulting losses. Therefore, it is strongly advised to exercise caution and consult with financial professionals before making any financial decisions that could impact your financial situation.

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