August 19th, 2021
Analysis: Crypto’s total market cap is currently above USD $2 Trillion for the first time since May.
The rebound over the past few weeks has surprised speculators, who thought China’s mining crackdown would hurt the market long-term and possibly push into another crypto-winter.
XRP led the way of the coins available on Bitbuy with a 20% gain on the week.
Hardbacon, a Canadian media and financial tech company, recently conducted a survey among adults in Canada to measure their thoughts on cryptocurrency and other financial topics.
In what may come as a shock to the people at your next dinner party, over a quarter of Canadians, or 28.3% of the participants, answered that they have indeed purchased cryptocurrency or had “exposure” to it.
Of those who have purchased cryptocurrency, over 85% had some of the world’s most popular coin, Bitcoin.
As for Canada’s homegrown Ethereum? 75% of the respondents said they had exposure.
While the ownership numbers seem high, the investor confidence in crypto still has a long way to go.
Only 5% of respondents said that they believe that investing in digital currencies is a safe plan, whereas 21% polled said buying stocks was more secure.
It seems investors in Canada still believe government bonds are the way to ‘play it safe’, with 85% reporting that they believe it’s a safe way to store your money.
Who do Canadians trust most for investing?
Of the top 5 brands that Canadians say they trust for investing, 4 of the 5 top answers in the survey were Canadian success stories.
The survey found that Royal Bank, TD, Apple, Shopify, and Questrade were the top 5 most-trusted brands for Canadian investors.
Although some of these brands have rumoured crypto tie-in’s coming, none have officially made the leap.
Crypto Market Tops $2 Trillion For The First Time in Nearly 3 Months as Bitcoin Rallies – CNBC
Crypto Adoption Shifts to Emerging Markets as China, US Drop in Chainalysis Global Rankings – Coindesk
Crypto Platform Hit by $600 Million Heist Asks Hacker to Become its Chief Security Advisor – CNBC
Ethereum Co-creator Vitalik Buterin Will Help Shape The Future of Dogecoin After Joining The Token’s Foundation – Markets Insider
Facebook Says it Wants a ‘Fair Shot’ in The Crypto Payments Sphere – The New York Times
Warning! If you are depositing ETH, AAVE or LINK from Binance, or any other exchange, it MUST be sent as an ERC20 transaction. BEP2 and BEP20 deposits are NOT supported and are not recoverable by Bitbuy.
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