A survey by Capterra shows that 67% of Canadians are interested in being paid in cryptocurrencies in the next five years.
The poll reveals that one in every four respondents already owns crypto, with 37% saying they plan to purchase cryptocurrencies in the near term.
58% of the sample size began investing during the pandemic lockdown when they had ample time to research the asset class.
The study also reveals that bitcoin and ether are the most popular digital assets in Canada, while DOGE, LTC, and ADA are widely used.
The poll shows that 34% of the crypto owners are between 18 and 22 years old, while 41% are between 23 and 35 years old.
On the barriers to entry, 64% cited the lack of information, 44% feared the assets disappearing, while market fluctuations are hindering 40% of the respondents.
Research analyst, Tessa Anaya, says that the future of cryptocurrencies in Canada is unclear despite Web3 and blockchain technology gaining popularity.
Another study involving the USA, Canada, and seven other markets reveals that small and medium-sized businesses plan to add crypto payments.