According to a recent survey, nearly every third Canadian has invested in digital assets. However, crypto investments are still a concern for most locals as only 5% consider it safe.

Cryptocurrencies and ‘Meme Stocks’ in Canada

The financial technology start-up – Hardbacon – conducted a survey among Canadian adults to estimate the cryptocurrency sentiment in the country. Per the results, 28% of the participants answered they have indeed purchased digital assets. Taking a closer look, 85% have exposure to Bitcoin, and 75% have some to Ethereum.

While the percentage may seem high, Canadians don’t consider virtual currencies to be a safe investment strategy. Only 5% of respondents said the opposite. 21% believe buying stocks is more secure, while 65% pointed out government bonds are the safest option.

Interestingly, investing in “meme stocks” such as Cineplex, AMC, and GameStop is a growing trend among Canadian citizens, as 13.3% of the participants admitted they had diversified their portfolio with such. When it came down to age, the poll concluded that those between 25 and 44 years old are more open to the idea of investing in meme stocks as 30% of them have already done that.

Hardbacon cautioned that buying these shares can be risky because they are often driven by social media and therefore could be volatile.

Canadians Have Been Showing Crypto Enthusiasm

According to another recent study ,, the residents of the country with the second largest landmass have increased their interest in digital assets over the past year.

Per the data, 20,783 out of 100,000 Canadians have googled “crypto” over the past 12 months. Even though the number might seem small, it still represented an increased interest of 213% in a year. As a matter of fact, the USA – ranked as the most crypto-ready country – falls behind with 14,796 such queries on the world’s largest search engine.

It is worth noting that Canada has one of the highest number of crypto ATMs – 1,464 – second only to the States. Doing the maths, there is one such machine for every 26,265 people. Due to the country’s large size, one crypto ATM is available in every 2 miles. 633 square miles. The USA undisputedly ranked first with its 17,436 machines, while the largest density is in Hong Kong.