Key Findings:
” 76% of respondents are familiar with the idea of cryptocurrency. Of those 76% of Canadians, 97% of them are already familiar with what Bitcoin is”
Cryptocurrency has actually come a long method considering that its early days as “ecash” in the 1980s. Now, there are more than 1,000 cryptocurrencies in usage, and the ownership and awareness just keeps growing. Bitcoin, probably the most widely known cryptocurrency in usage, has grown tremendously considering that its beginning in 2008, particularly in Canada. Did you understand: on average, Canadians looked for “Bitcoin” more than “Kim Kardashian” or “Banks”, in the previous year. Using the information provided by a survey conducted by CorbinPartners in between July 5th and October 29th, 2018, this article will go over the increased cryptocurrency adoption and rising awareness in Canada. Check out short article.
Increased Awareness
Over the previous year, more individuals In Canada have looked for “Bitcoin” on Google than “Banks” or “Kim Kardashian”
76% of Canadian participants were familiar with the concept of Cryptocurrency. From those 76%– 97% are currently familiar with what Bitcoin is.
The awareness of Bitcoin is moving towards the mainstream, the Oxford English Dictionary recently added the word “Satoshi”, which is the smallest unit of a Bitcoin.
In mid-to-late 2018, the Corbin partners talked to 1,226 respondents across Canada in an effort to determine simply how noteworthy Bitcoin has gotten. Of those 930 Canadians who said “yes” to knowing what cryptocurrency was, 97% of them were already aware of what Bitcoin was.
Why is Bitcoin Rising?
Going back to the minute we took to consider Bitcoin advantages, you may have put substantial weight on Bitcoins abstract physical form. Of the individuals surveyed, 22% stated that Bitcoins lack of a physical type (i.e. its not cash in your wallet, a cheque book, or plastic card) was a perceived benefit of the cryptocurrency. If a consumer is paying for items with Bitcoin, a vendor doesnt have to worry about paying administrative fees to the banks when debit or credit is used.
If you think about how much the word “Bitcoin” is used in traditional media, its not surprising that 97% of the individuals who knew what cryptocurrency was also knew what Bitcoin was. Bitcoin is also the most commonly recognized currency in Canada and U.S, so its not too far-fetched to suggest that the awareness of Bitcoin is barreling towards the mainstream. The Oxford English Dictionary recently included the word “Satoshi”, which is the smallest unit of a Bitcoin.
Increased Ownership.
Awareness of Bitcoin has jumped practically a 3rd in one year, with roughly 96% of Canadians declaring they have heard of Bitcoin. If you arent persuaded by the survey information, let the Google trends speak louder: Bitcoin is being browsed more regularly than Kim Kardashian, an individual who has more fans than the entire population of Russia. If you were one of the individuals who had heard of but never ever utilized Bitcoin, are you believing about attempting it out now?
Google Searches.
If so, what would the element that motivated you to finally purchase, or at least usage, Bitcoin? From the survey respondents who were Bitcoin owners/users, 39% said the factor they got Bitcoin for the first time was due to the fact that they simply wanted to try it. That suggests that roughly 86 individuals chose to acquire Bitcoin just to see what it was like!
” One of the survey concerns postured to non-Bitcoin users associated with the perceived advantages of using Bitcoin compared to traditional currency. Of the 686 people who reacted, 39% mentioned that global/cross-border usability seemed like the most advantageous quality of Bitcoin”.
To assist put cryptocurrency adoption in point of view, this graphic is a comparison of Bitcoins market cap with other disruptive companies. As you can see from the graphic, Bitcoin has already handled to outpace IBM (a 100 year-old business), Shopify and Canopy Growth. It would be amazing if Bitcoin could surpass JPMorgan, among Americas “Big Four” banks, and land in behind Google, but that might take a while.
The experiential users, a 3rd of individuals who got Bitcoin stated they got it for financial investment purposes. If you are among the people who have heard of Bitcoin, have you done any research into the financial investment capacity of this currency?
Crypto is going mainstream.
” Over the past year, more individuals In Canada have actually looked for “Bitcoin” on Google than “Banks” or “Kim Kardashian”.
Sources and methodology: All data referenced comes either from public sources, or from a study conducted in between July 5th and October 29th, 2018, by CorbinPartners. The Corbin partners spoke with 1,226 qualified participants across Canada, using the field services of Canada Viewpoint Inc. A reliable information collection supplier and member of numerous market research market associations.
Of the participants surveyed who had not utilized Bitcoin before, 39% viewed its global/cross-border usage as a huge advantage. Considering Bitcoin originated as a digital currency, this makes sense. Bitcoin users do not have to worry about worldwide conversion rates, because digital currency is pretty much the same from every computer system!
If the study statistics weve discussed so far arent encouraging enough, have a look at the Google search patterns captured in between November 1st, 2018 and September 1st, 2019. On average, more people looked for “Bitcoin” than they provided for “Kim Kardashian”, and thats someone who has more than 150 million fans on Instagram, more than 62 million fans on Twitter, and 17 seasons of a reality TV program. If an individual with more fans than 3 times the population of Canada can be out-searched by a currency that has just been around for 10 years, what does that mean for the future awareness of Bitcoin? At the minimum, the search engine result do suggest that Bitcoin has actually lastly penetrated the collective mindful of Canadians, and it has actually ended up being mainstream..
If you think about how much the word “Bitcoin” is utilized in traditional media, its not unexpected that 97% of the individuals who understood what cryptocurrency was likewise understood what Bitcoin was. Bitcoin is likewise the most extensively recognized currency in Canada and U.S, so its not too far-fetched to recommend that the awareness of Bitcoin is barreling towards the mainstream. Going back to the moment we took to consider Bitcoin advantages, you might have put substantial weight on Bitcoins abstract physical type. From the study respondents who were Bitcoin owners/users, 39% stated the reason they got Bitcoin for the very first time was since they simply wanted to try it. Awareness of Bitcoin has leapt almost a third in one year, with around 96% of Canadians declaring they have heard of Bitcoin.
Get going.