A new cryptocurrency-related survey carried out in Canada showed that 40 percent of the Ontario-based cryptocurrency investors are selling their cryptos and that the Canadians are generally cautious when it comes to cryptocurrency investments.
40 percent of Ontario-based cryptocurrency investors sell their cryptos
A survey carried out by the Ontario Securities Commission (OSC) measures the investment habits made by cryptocurrency investors and traders, as well as the people’s level of understanding regarding the new cryptocurrencies market. This study, conducted on over 14 million people in Ontario (more than 38 percent of the total population) found that nearly half of the 18-year-old residents of the Canadian state, about 5 percent of the state’s residents, invested in the cryptocurrencies market.
The study, in general, showed that Canadians tend to be cautious about their investment habits in the cryptocurrencies market, as, for example, less than 9 percent invested more than $9,999 in cryptos.
Also, according to this study, about 40 percent of the Ontario-based cryptocurrency investors are selling their cryptos.
The survey showed that Canadians were generally cautious in cryptocurrency investments
81 percent of those surveyed heard about Bitcoin (BTC), 25 percent of Bitcoin Cash (BCH), while only 13 percent knew about Litecoin (LTC). It was also found that only 11% knew Ethereum (ETH), the second largest cryptocurrency in the market.
Perhaps the most exciting aspect of the survey was the way participants used to get their cryptos. 46 percent said they had traditionally bought them from cryptocurrency exchanges, while only 28 percent said they had obtained them through mining.
Most of the participants said they used cash savings to buy their cryptos, while a small group said they were investing. The authorities reported the final result of the work as follows:
According to the results of this research, the vast majority of the people of Ontario are cautious about their cryptocurrency investments. Only a small percentage have their own cryptos and those who own them did not have to spend significant amounts of money to get it.