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A recent report by the Ontario Securities Commission (OSC) provides interesting insights into the investment behavior of citizens of the Canadian province of Ontario. The results of the survey show that currently five percent of the population (about half a million) own crypto currencies. However, the proportion of respondents who owned crypto currencies in the past and have since sold them is almost as high.

Five percent own crypto currencies

The majority of Ontarians approach crypto currencies only cautiously, the report says. Currently, about five percent own Bitcoin, Ethereum and Co. And those who own them do not tend to invest significant sums of money. While 38 percent said they had invested less than $1,000, the figure is only five percent for those who invested between $10,000 and $20,000. 13 percent even claimed to own crypto currencies without having paid for them.

Especially young men between the ages of 18 and 34 often (14 percent) indicated to invest in crypto currencies. This finding also coincides with the results of the recent surveys conducted by Postbank and ING DiBa.

Reasons for purchasing crypto currencies

Former and current owners of crypto currencies have repeatedly indicated overlapping reasons for acquiring digital tokens:

  • Technology: 46 percent stated that they bought crypto currencies out of interest in new technologies
  • Speculation: 42 percent said they bought crypto currencies in the hope of selling them later at a higher price.
  • Means of exchange: 25 percent said they bought crypto currencies because they wanted to pay anonymously.
  • Scepticism about institutions: 12 percent said they acquired crypto currencies because they have little confidence in the banks.
  • Confidence in the government: 11 percent said they acquired crypto currencies because of low confidence in the government

Most held crypto currencies

The results show that most Ontarians hold Bitcoin (65 percent) and Ethereum (35 percent). This is followed by Litecoin (LTC) with 18 percent and Bitcoin Cash (BCH) with 17 percent.

Most of the investments (55 percent) were financed by savings. 26 percent used the credit card and another 19 percent sold other investments to switch to crypto currencies.

All in all, the results produce some new findings. For example, how many investors formerly owned crypto currencies and have since sold them again. The number is not insignificant – four out of nine investors already sold their crypto currencies.

About Canada

Canada is a country in North America between the USA and Greenland, which consists in the north of the rugged island regions of the Arctic. The country has a total area of 9,984,670 km² and a total coastline of 202,080 km. This area is about 27.9 times the size of Germany. Canada is the second largest country in the world after Russia. With 3.7 inhabitants per km² it is also the least populated country in America.

The country has 52,455 mostly uninhabited islands. The USA is the only directly bordering neighboring country of Canada. The distance between Berlin and the capital Ottawa is about 6,140 km.

With an extension of over 2900 km from north to south, it is difficult to make a general statement about the climate. The individual parts of the country would be too different for this. A predominantly temperate climate zone determines the weather in Canada. As everywhere in the northern hemisphere, the days in the summer months are not only warmer, but also longer. The average daily maximum temperatures are between -8 and 22 degrees, depending on the season. In some parts of the country, temperatures can reach 27 degrees during the day. In the colder months, the temperature drops at night to -17°C in the monthly average, depending on the region.