Check out some hand-picked stats related to Bitcoin and cryptocurrency adoption in Canada.
There Are 7 Publicly Traded Exchanges Where Canadians Can Buy Bitcoin
There are seven publicly traded companies where Canadians can buy and sell digital assets. All of them have their headquarters in Canada except for Coinbase, which used to be based in San Francisco but is now remote-first.
Source: RankFi
Ontario Regulators Have Approved 12 Cryptocurrency Exchanges
As of July 2023, 24 crypto platforms can offer crypto products to investors in Ontario. 12 have been approved by the OSC and 12 are in the pre-registration process.
Source: Ontario Securities Commission
Canada Has The Second Most Bitcoin ATMs In The World
As of June 2023, Canada had 2,704 Bitcoin ATMs ahead of Australia (505), Spain (241), and Hong Kong (148). The United States was in first place with a whopping 30,719.
Source: Coin ATM Radar
Toronto Has The Most Bitcoin ATMs In Canada
As of July 2023, Toronto had 970 Bitcoin ATMs (35%) out of 2,791 throughout Canada. Montreal had 265 (9%) and Vancouver had 210 (8%). Canada added 27 new Bitcoin ATMs during the month of June, 2023.
Source: Bitcoin ATM Map
As Many As 13% Of Canadians Own Cryptocurrency
Based on a small 2022 survey with 2,360 Canadians, 78% have never owned crypto assets and 8% used to own it. 36% of those who own crypto assets reported the total amount was less than $1,000. Interestingly, 19% of Canadians surveyed acquired their crypto through friends, family, or colleagues.
Source: Ontario Securities Commission
The Majority of Crypto Owners in Canada Are Male
According to a survey from the OSC, 67% of crypto owners are likely to be male and 33% female. 59% of crypto asset owners are likely to be be between the ages of 24-44 and 37% are likely to earn over $100k per year.
Source: Ontario Securities Commission
6.5% of all Bitcoin Mining Takes Place In Canada
Until January 2022, Canada held a 6.5% share of the global hashrate for Bitcoin. The United Stated held 37.8%.
Source: Cambridge
10 Crypto Exchanges And Brokers Are Headquartered In Toronto
At least 10 companies operate out of Toronto. The list includes Newton, Bitbuy, Coinsmart, Paytrie, VirgoCX, Coinsquare, Beaver Bitcoin, Wealthsimple Trade, Coinberry, and MyBTC.ca.
Source: RankFi
In 2021, 90% of Canadians Have Heard the Term "Bitcoin"
The number is likely to be higher in the year 2023.
Source: Bank of Canada
Shakepay Has Over 1 Million Users
Shakepay, a Bitcoin and Ethereum broker based in Montreal, is one of the largest domestic crypto apps. Newton has at least 500,000 users and Bitbuy has 400,000.
Coinbase and Binance, which are both international exchanges, boast over 100 million users each. Crypto.com is also very large with 80 million accounts.
Source: Shakepay and Company Websites
2 Domestic Crypto Exchanges Have 1 Million Users
Shakepay has over 1 million users. Then Wealthsimple Trade, although not solely a crypto platform, still has over 2.5 million Canadians on their platform. Newton has over 500,000 customers and Bitbuy has over 400,000. International platforms like Coinbase has 100 million customers and Crypto.com has 80 million.
Source: Company Websites
Canada Ranked 20th out of 26 Countries for Crypto Adoption
Until November, 2022, data from Finder shows Canada was 20th place for crypto adoption. India led the way, with Germany in last place.
Source: Finder
