67% of Canadians want to be paid in crypto by 2027

67% of Canadians want to be paid in crypto by 2027

A study suggests that receiving payments in cryptocurrencies is becoming increasingly popular in Canada.

Receiving payments in cryptocurrencies is attracting interest in Canada. a recent Capterra Survey The survey of 1,000 Canadian respondents revealed that 67% of respondents want to be paid in crypto within the next five years.

The researchers also found that one in four participants already own a cryptocurrency, with 58% starting their crypto journey during the pandemic shutdowns when they had more time to research and learn about digital assets. 37% of those surveyed said they plan to buy crypto soon.

Among respondents who have used cryptocurrencies, the researchers found that Bitcoin (BTC) and Ethereum (ETH) remain the most popular. In addition to BTC and ETH, Dogecoin (DOGE), Litecoin (LTC), and Cardano (ADA) are some of the most widely used assets.

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The results of the survey also showed that the use of cryptocurrencies is more prevalent among young people. Among cryptocurrency owners, 34% are between the ages of 18 and 22, while 41% are between the ages of 23 and 35.

While many are positive about the use of cryptocurrencies, there are others who are more hesitant. The study identified barriers that prevent unencrypted users from using digital assets. According to the survey, 64% are held back by their lack of knowledge of cryptocurrencies, 44% expressed fear of the demise of cryptocurrencies, and 40% cited market fluctuations.

Study analyst Tessa Anaya said that while interest is growing, the future remains uncertain. “While ideas like a blockchain-dependent economy and the introduction of Web3 may quickly gain traction, the reality is that the future of cryptocurrencies in Canada remains uncertain,” he said.

Meanwhile, research from nine markets, including the United States and Canada, shows that small and medium-sized businesses are considering accepting cryptocurrency payments.

Par Ezra Reguerra, Cointelegraph

Ezra is a journalism and broadcasting graduate and cryptocurrency enthusiast whose goal is to document humanity’s journey to adopt innovative technologies through blockchain.

The opinions expressed herein are solely those of the author and do not necessarily reflect the views of Forex Quebec. Every investment and trading move involves risk, you should do your own research when making a decision.

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Disclaimer: The information and opinions contained in this report are provided for general information only and do not constitute an offer or solicitation to buy or sell forex, CFD and cryptocurrency contracts. . Although the information contained in this document has been obtained from sources believed to be reliable, the author does not guarantee its accuracy or completeness, and assumes no liability for direct, indirect, or consequential damages that may result from anyone’s reliance on such information. .

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