The research was prepared by the financial authorities of Ontario and disclosed that only 5 percent of the province’s population possess digital currencies.
According to the study carried out in the largest province of Canada by population, 14 percent of the digital currency holders happen to be males aged from 18 to 34.
The majority of Ontario citizens that financed digital assets did not spend large amounts to buy digital currencies. Approximately half of the population contributed under 1,000 US dollars on purchasing digital currencies. At the same time, as much as 90 percent of Ontarians invested nearly 10,000 US dollars in crypto, and only 5 percent exceeded the abovementioned threshold. Overall, the financing of crypto in Ontario appears to be cautious.
The survey has indicated that citizens of Ontario undertake in obtaining digital currencies in different ways, including participating in initial coin offerings, cryptomining, or exchanging at the cryptotrading platforms. As much as 18 percent of Ontarians acquired digital currencies for free thanks to airdrops.
It is worth noting that almost 50 percent of digital currency holders obtained their coins from US trading platforms rather than Canadian.
As far as the awareness goes, Ontarians can hardly explain the technology behind the digital currencies, and most of the citizens associate crypto only with BTC or BCH, while the majority of other currencies is unknown to them.