• By: Allen Brown

Americans more interested in Crypto than Canadians

According to a new IPSOS survey, Americans are more likely to show an interest in investing or owning Cryptocurrencies than their neighbours across the border in Canada. A recent survey was carried out as part of a humanities and social sciences project and the results showed that around 18% of adults in Canada have an interest in using or investing in Cryptocurrency. However, when you look at Americans who may show the same interest it is as many as 24% that would be interested.

Why Do Americans Like Cryptocurrency?

When asked, 19% of those in America who would use Cryptocurrency said they would be interested in using digital currency if it helped them to avoid banking fees. Perhaps unsurprisingly 17% of Americans like the idea of using Cryptocurrency to reduce the taxes that they would usually be required to pay.

The survey itself took place across a number of countries, where the overall figure of those showing an interest in digital currency was 35%, so America and Canada are still behind other countries. However, when you consider that being able to use Cryptocurrency is becoming more mainstream, this is a figure that could soon change.

Using Cryptocurrency

Recently both Gucci and Starbucks have announced that they’ll be accepting Bitcoin in at least some of their stores across the US. Online casinos have been offering Bitcoin and other digital currency options for a number of years, with the takeup of this option steadily increasing – especially over the past 24 months as we have seen an increase in people wanted to use an online casino to place their bets.

 As we become more used to the concept of digital currency and it’s a term we start to hear more, the more likely it is that people will feel familiar and confident in using, investing and owning Cryptocurrency and even various Crypto-assets. Even the Canadian Conservative leadership hopeful Pierre Poilievre has talked about using Cryptocurrency and how Canadians might be able to use it to ‘opt-out of inflation’, So, Canada might be behind when it comes to interest at the moment, but as more people in a position of power start to advocate for using Cryptocurrency as a legitimate currency the more likely people are to listen and want to be involved.

What’s Next?

There are many people that expect 2022 to be the year that at least one international retailer announces that they would accept Cryptocurrency as payment which could lead the way for other brands to follow suit – it’s just a matter of seeing what brand this could be and whether that could finally pique the interest of more Canadians.

Photo: iStock