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Canada cryptocurrency statistics 2023

Key statistics for the adoption and use of cryptocurrency in Canada

Finding up-to-date and accurate cryptocurrency statistics in Canada can be a challenge. That’s why we’ve put together this comprehensive collection of crypto market stats, including general market figures, cryptocurrency adoption rates and much more.

Quick overview of cryptocurrency in Canada

  • 18% of Canadians own cryptocurrency, as of Q1 2023
  • 13% of Canadians own Bitcoin, making it Canada’s highest-owned crypto
  • 26% of Gen Z respondents own cryptocurrency
  • Men (23%) are more likely to own cryptocurrency than women (15%)

How many people in Canada own cryptocurrency?

It’s no surprise that cryptocurrency is not the primary investment asset for most Canadians with 31% owning stock and 30% with a high-interest savings account; however, almost 1 in 5 (18%) of Canadians own crypto, according to respondents in the Finder: Consumer Sentiment Survey Q1 (CSTQ1).

Which cryptocurrency is the most commonly owned by Canadians?

According to the CSTQ1, 13% of Canadians own Bitcoin, making it the most popular cryptocurrency in Canada. The runner-up crytopcurrencies, in terms of popularity, are Ethereum (10%) and Dogecoin (5%).(1)

Learn more: Canada cryptocurrency tax guide

Crypto ownership in Canada and age

Age has a big impact on whether or not the investor buys and sells cryptocurrency, with 26% of Gen Z respondents owning crypto, compared to 21% of millennials, 19% of Gen X respondents and 6% of baby boomers.

Younger generations are the most zealous about holding and trading the most popular cryptocurrencies with 18% of Gen Z owning Bitcoin, followed by 15% of millennials, 15% of Gen X and 4% of baby boomers.(2)

Ethereum ownership statistics:

  • Gen Z: 13%
  • Millennials: 11%
  • Gen X: 10%
  • Baby boomers: 2%

In the Finder: Consumer Sentiment Survey Q2 (CSTQ2), Gen Z (22%) and millennials (20%) were more likely than baby boomers (5%) to consider “now is a good time to put money into cryptocurrency.” This represents a decrease from the responses in the CSTQ1, when 30% of Gen Z respondents said “now is a good time to put money in crypto.”

Cryptocurrency ownership in Canada by gender

Men are more likely to own cryptocurrency than women, with 23% of male respondents owning crypto compared to 15% of female respondents. Men are also more likely to own the most popular cryptocurrency in Canada, Bitcoin, with 16% of men and 11% of women owning Bitcoin.

In the CSTQ2, 12% of women and 24% of men considered April to June 2023 as a “good time to put money into cryptocurrency.” Instead, women preferred other investments, including high-interest savings accounts (36% of women compared to 30% of men), or savings plans (37% of women and 26% of men), while men preferred stocks (30% of men, compared to 23% of women).(3)

Crypto ownership in Canada and province

When it came to cryptocurrency ownership in Canada, where an investor lived appeared to have an impact. Ontario residents were most likely to invest in cryptocurrency in Canada, according to CSTQ2, with 21% indicating a preference or intention to trade cryptocurrency between April and June 2023. However, that was a shift from the CSTQ1 finding, when only 18% of Ontario investors were keen on crypto, compared to 23% of Alberta residents, 17% of Quebec residents and 15% of BC investors.

Cryptocurrency adoption statistics in Canada

The crypto ownership rate in Canada is 18%, according to the Finder: Consumer Sentiment Survey Q1 (CSTQ1). This is higher than the global crypto ownership rate of 11.4%, according to the Finder: Cryptocurrency Adoption Index.

Canada ranks 20th out of 26 countries for crypto adoption, according to Finder’s Crypto Adoption November 2022 report. The report surveyed almost 390,000 people in 26 selected countries (including 14,109 in Canada since April 2022).

Learn more: Finder Cryptocurrency Adoption Index

Key global cryptocurrency statistics

  • Market cap: The global crypto market cap as of 26 July, 2023 is US$1.17 trillion.
  • Daily volume: Trade volume measures the level of current activity in the market. The daily crypto trade volume as of 27 July 2023 stands at US$30.69 billion.
  • Global crypto users: The number of identity-verified crypto-asset-users globally as of December 2022 is 425 million.
  • Number of cryptocurrencies: In 2023, there are almost 9,000 active cryptocurrencies in existence.
  • World’s largest cryptocurrencies: As of July 2023, the top five cryptocurrencies by market capitalization globally are Bitcoin, Ethereum, Tether, XRP and BNB.
  • Recent price movements: The price movements of the top 5 coins over the last 90 days are shown below. Each coin in the index starts at 100. A rise to 110 for would represent a 10% rise in price for that coin.(4)

Proportion of total market cap per coin

Total value: The entire coin market, made up of thousands of cryptocurrencies, is currently valued at $1,201 trillion.(5)

Global Bitcoin statistics

How many Bitcoins exist? How many Bitcoins are left? Just how much value does Bitcoin add to the global crypto market? These key stats will tell you everything you need to know.

  • Circulating supply of Bitcoin as of July 2023: 19,439,175
  • Maximum supply of Bitcoin: 21,000,000
  • Highest ever price of Bitcoin: $68,789.63
  • Bitcoin market cap: $573.3 billion
  • Bitcoin value market share: Bitcoin’s share of the cryptocurrency market’s current value, referred to as dominance, is 48.31%
  • Year the final Bitcoin is expected to be generated: 2140
  • Bitcoin blockchain size: The Bitcoin blockchain grows each year as adoption increases. As of June 2023, the network contains more than 475 gigabytes of information

Global cryptocurrency statistics

Before we delve into what sets participants apart, the first category in our crypto stats deals largely with what ties us together.

  • Annual growth: The market’s valuation has grown by more than -100% over the past year. (Source: CoinGecko)(6)
  • Number of coins: The total number of active cryptocurrencies has grown substantially. By November 2021 there were 7,557 unique digital currencies.(7)
  • ICOs: Initial coin offerings (ICOs) help companies raise the money needed to create cryptocurrencies. By March 2020, more than 2,300 ICOs had been launched throughout the industry.(8)
  • Five biggest: The top five cryptocurrencies by market cap are currently Bitcoin, Ethereum, Tether, BNB, and USD Coin(9)
  • Recent price movements: The price movements of the top 5 coins over the last 90 days is shown below. Each coin in the index starts at 100. A rise to 110 for would represent a 10% rise in price for that coin.(10)
  • Dominance: The vast majority of the market is made up from the combined market cap of the top 7 coins. The dominance, or share of the total cryptocurrency market, of each of these coins is shown here.(11)
  • Daily volume: Trade volume measures the level of current activity in the market. The daily crypto trade volume stands at US$128,697,546,577.(12)

Environmental impact of cryptocurrencies

Bitcoin mining has a huge environmental impact. For instance:

  • Global electricity usage: The carbon footprint created through cryptocurrency mining has stirred numerous controversies. The total global electricity usage for cryptocurrencies is estimated to be between 120 and 240 billion kilowatt-hours per year, which is equivalent to 0.4% to 0.9% of annual global electricity usage.
  • Bitcoin electricity usage: It’s estimated that Bitcoin is responsible for 60% to 77% of total global cryptocurrency electricity usage, while Ethereum is estimated to account for 20% to 39%.
  • Carbon dioxide emissions: Global electricity generation for the world’s largest cryptocurrencies creates 140 ± 30 million metric tons of carbon dioxide per year, which is roughly 0.3% of global annual greenhouse gas emissions.

Survey Methodology – Finder: Consumer Sentiment Survey Q1 2023

The results of the Finder: Consumer Sentiment Survey Q1 (CSTQ1) were collected through an online Pollfish survey conducted between December 2022 and January 2023. In the survey, 1,846 Canadians from across the country were asked about their current banking services and their intentions and motivations for new banking products. The estimated margin of error for the survey is +/- 3%, 19 out of 20 times.

Survey Methodology – Finder: Consumer Sentiment Survey Q2 2023

The results of the Finder: Consumer Sentiment Survey Q2 (CSTQ2) were collected through an online Pollfish survey conducted between April 27 to 29, 2023. In the survey, 1,011 Canadians from across the country were asked about their current banking services and their intentions and motivations for new banking products. The estimated margin of error for the survey is +/- 3.08%, 19 out of 20 times.

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