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Reasons for consumers in Canada to invest in cryptocurrency in 2022 and 2023

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Sources

Release date

November 2023

Region

Canada

Survey time period

May 16 to June 7, 2023

Number of respondents

2023 (n=602); 2022 (n=670)

Age group

18 years and older

Special properties

People who own crypto assets

Method of interview

Online survey

Supplementary notes

Results have been weighted to represent the entire population.

Citation formats

Consumer motivation to buy crypto in Canada 2022-2023

Published by K. Scholle, Jan 19, 2024

Consumers in Canada typically saw cryptocurrency as a speculative investment or gamble, a motivation that remained relatively unchanged between 2022 and 2023. This is according to an annual survey that asked Canadians about their attitude towards the digital coins. When comparing 2023 results to those from 2022, crypto owners mostly wanted to purchase the digital assets because it performed differently from the stock market. Belief in the overall blockchain technology was still important in 2023, but less so than in 2022 after the industry suffered several scandals.

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