According to the study of Canada’s study bank, this shows that 58% Canadians use bitcoin for investment purposes. The Bank of Canada research was done within a short time, the study is an update to the Bitcoin Omnibus Survey (BTCOS) organize by Canada’s Central bank.
Canadians are chiefly used the cryptocurrency for investments motive in 2017, Instead for business, which previously had been cited as the main reason for dealing with Bitcoin in 2016. According to the bitcoin omnibus survey (BTCOS).
During the survey the 58 percent of respondents claimed that the driving motivation was “as an investment,” and other 12 percent of Canadian bitcoin holders reportedly use bitcoin because their friends own bitcoin, 7 percent Canadian use bitcoin due to an interest in new technologies, and 6 % for buying goods and service on the internet.
Non-transactors, 77% of Canadians use bitcoin as an investment, and these people do not use it at the same time nor do the steady. Citizens of British Columbia reported the highest level of awareness of Bitcoin, increased from 77 percent in 2016 to 93 in 2017. In the case of Bitcoin Awareness, the place of Toronto is in third place, according to the study, with its Prairies Canadian province in second place.
In June, the Ontario securities commission (OSC), had issue the report that the 3% of Ontarians have successfully completed a short test based on bitcoin’s basics, and other 34% Ontarians proved normal knowledge of bitcoin.