Report showed that as much as half a million Canadians living in Ontario province are using cryptocurrencies. The report was published by the Investor Office of the Ontario Securities Commission. It is relatively high number of citizens; around 13.5 million people live in Ontario and the province also has Canada’s largest city - Toronto.
The office wanted to know how many people are into crypto sphere in Ontario and what are their attitudes regarding the ‘internet money’. Survey of 2500 citizens showed that most people are cautious about cryptocurrencies as the market is currently volatile and immature. However, a number of 500,000 is still remarkable. That’s how many people own cryptocurrencies in the surveyed location. It turned out that 18-34 years old men are the most probable owners of cryptos. Earlier, similar survey was conducted among Europeans which showed that males between 25 and 34 are highly likely to have coins in their cryptowallets.
Participants of the survey also shared their attitudes and reasons for using cryptos. Around 46% of owners think that cryptocurrency has wide technological potential. Other 42% were not into speculations and only wanted to sell coins for a higher price in the future. Quarter of the surveyed wanted anonymity in their exchange. Half of crypto owners admitted that they barely know anything about crypto and spent less than $1,000 into coin initiatives. On the other hand, 9% confessed that they are true enthusiasts and have spent more than $10,000 which makes them more profound investors to the emerging market.
Finally, the office’s estimation counts 170,000 Ontarians who have taken part in ICOs, or initial coin offerings. More than that, surveyors also highlighted the most popular criteria for choosing the ICO to invest. They are whether the token can be traded or sold (68%), location of business (58%), opportunities for users offered through the token (46%), the management team (46%), the business plan (44%), and the regulation status of the ICO (29%). Researchers denote that this data is more uncertain since the number of respondents who participated in ICO was much lower.