Rising Crypto Adoption in Canada
Recent studies by the Bank of Canada and Ontario Securities Commission (OSC) reveal significant growth in cryptocurrency awareness and ownership across the province. Key findings include:
- Bitcoin ownership among Canadians increased from 2.9% (2016) to 5% (2017)
- Fastest adoption rate observed in 45–54 age group (0.9% to 3.5% in one year)
- Approximately 10% of Ontarians have held crypto assets
Demographic Shifts in Ownership
The gender gap widened notably during this period:
- Male ownership: Doubled from 4.2% to 8.1%
- Female ownership: Remained steady at 2%
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Ontario's Crypto Landscape: Key Statistics
OSC estimates 500,000 Ontario residents currently hold cryptocurrency assets. Breakdown of popular assets:
| Cryptocurrency | Ownership Rate |
|---|---|
| Bitcoin | 63% |
| Ethereum | 35% |
| Litecoin | 18% |
| Bitcoin Cash | 17% |
| XRP | 13% |
Purchase Trends Over Time
The survey (conducted March 2018) shows:
- 72% of holders bought crypto within the past year
- 35% made first purchase in Q1 2018
- 37% initiated crypto investments in 2017
- Only 27% owned crypto prior to 2017
Geographic Distribution and Holding Patterns
Growth occurred across:
- Urban centers
- Lower-density regions
Small-balance holders (<10 BTC) increased more substantially than large investors.
FAQs About Crypto Adoption in Ontario
1. What percentage of Ontarians own cryptocurrency?
Approximately 10% of Ontario residents have held crypto assets, with an estimated 500,000 current holders.
2. Which cryptocurrency is most popular in Ontario?
Bitcoin leads with 63% ownership, followed by Ethereum (35%) and Litecoin (18%).
3. When did most Ontarians first purchase crypto?
72% of holders entered the market within one year prior to March 2018, with peak activity during late 2017/early 2018.
4. How does crypto ownership vary by gender?
Men are four times more likely to own Bitcoin (8.1% vs. women's 2%).
5. Which age group adopted Bitcoin fastest?
Adults aged 45–54 saw ownership grow 290% from 2016–2017.
6. Are small investors driving Ontario's crypto growth?
Yes, the report notes disproportionate increases among holders of smaller balances.