Survey: Less than 3% of surveyed Canadians used cryptocurrency for payments in the past two years

ChainCatcher news, according to Cointelegraph, an annual survey by the Bank of Canada shows that Canadians have long preferred to pay with cash and debit cards in 2022 and 2023. However, over the past decade, the overall use of some alternative payment methods has increased, but less than 3% of Canadians used Bitcoin or other cryptocurrencies for everyday payments for two consecutive years.

Among many other alternatives to cash and credit cards, most Canadian respondents preferred to use electronic transfers. On the other hand, cryptocurrency remains the least popular payment method in Canada. In 2022, 2.2% of respondents used cryptocurrency for payments, and this percentage grew to 2.5% in 2023.