Swing Trading Signals

Since 2013

  • 100% Quantified, data-driven and Backtested
  • We always show our results!
  • Signals every day via our site or email
  • Cancel at any time!

Crypto Statistics 2024: Cryptocurrency Facts

Last Updated on 10 February, 2024 by Abrahamtolle

We have gathered some interesting crypto statistics and facts. This article is mainly based on a survey that the Ontario Securities Commission (OSC) embarked on called the “Crypto Asset Survey”, but we have also gathered some info from other sources.

The cryptocurrency statistics was driven by the need to closely monitor the rapid developments in crypto assets both in Canada and globally. We believe the results are highly relevant for most Western countries. 

With the cryptocurrency market’s growth, associated market volatility, and continuous innovation in the field, understanding Canadians’ experiences with crypto trading platforms, advertising, and decentralized finance became imperative.

The survey and statistics aimed to explore the knowledge, attitudes, and behaviors of both investors and non-investors in crypto assets, providing insights into market trust, financial advice, advertising influence, and regulatory awareness.

This article presents a thorough examination of the survey’s methodology, key findings, statistics and facts shedding light on the nuanced dynamics of cryptocurrency investments in Canada.

We have previously covered both day trading facts statistics, options trading statistics, and trading facts and statistics.

Let’s start with the cryptocurrency key findings:

Key takeaways – statistics and facts about cryptocurrency owners and holders (HODL)

  • Crypto owners are predominantly male (67%);
  • The typical owner is aged 25-44 (59%), with children in the household (40%);
  • 49% of crypto owners have higher education (undergraduate degree or higher);
  • 67% have full time employment;
  • 37% have higher income (earning $100k+ annually).
  • Crypto owners exhibited higher financial knowledge (57%) compared to non-owners (48%);
  • 38% of crypto owners are willing to buy crypto based on ads;
  • 41% buy crypto based on word of mouth, 21% based on social media, and 20% from blockchain experts;
  • Motivations for purchases included a belief in the technology’s long-term value (29%), speculative investment (28%), seeking higher returns than traditional savings (25%), and portfolio diversification (25%);
  • The average crypto asset knowledge score is low at 37%, indicating a limited understanding of practical, legal, and regulatory dimensions;
  • 51% can accurately define crypto assets; however
  • Most lack a working knowledge and opinions on crypto assets’ role in the financial ecosystem (38%);
  • 13% reported owning crypto assets or crypto funds, with 6% holding crypto assets only, 6% owning both, and 2% having crypto funds exclusively; however notably
  • Half of crypto investment funds were under $10,000, and just over half of crypto assets were under $5,000.
  • The total crypto market is probably around 2 trillion USD, significantly less than the 12 trillion gold market (for example). 

Methodology Used in The Study

The “Crypto Asset Survey” employed a robust methodology, leveraging an online questionnaire administered to 2360 Canadians between April 26 and May 10, 2022.

The sample comprised 2185 individuals from the general population aged 18 and over, with an additional oversample of 175 crypto owners, ensuring a minimum of n=500 for this subgroup.

To enhance the survey’s representativeness, the data were weighted by gender, age, and region, aligning with the demographic composition of the Canadian population.

For classification purposes, investors were defined as those currently owning at least one investment product, either within or outside registered accounts, while non-investors were those without any investments or solely holding investments through an employer’s pension plan.

The fieldwork was conducted meticulously, incorporating a two-week timeframe from April 26 to May 10, 2022. The survey employed a weighted approach, adjusting for gender, age, and region to accurately reflect the composition of the Canadian general population.

The proportion of crypto owners in the sample was also weighted to align with the proportion among the general population sample. Where totals did not add up to 100%, it was attributed to rounding or respondents being permitted to provide more than one response.

The survey’s credibility was maintained through a margin of error of +2.5 percentage points, ensuring accuracy comparable to results obtained from polling every Canadian. However, credibility intervals were expected to be wider among subgroups of the sample, acknowledging potential variations in responses.

For the purpose of the survey, investors were classified as those holding at least one investment product within or outside registered accounts or cryptocurrency investment funds. Non-investors were defined as those without any current investment products or only having investments through an employer’s pension plan.

Statistics and facts – findings

The major highlights of the study are as follows.

1. cryptocurrency Ownership and Demographics

Among Canadians, 13% reported owning crypto assets or crypto funds, with 6% holding crypto assets only, 6% owning both, and 2% having crypto funds exclusively.

Notably, half of crypto investment funds were under $10,000, and just over half of crypto assets were under $5,000.

Crypto owners tended to be predominantly male (67%), aged 25-44 (59%), with children in the household (40%), higher education (49% with an undergraduate degree or higher), full-time employment (67%), and a somewhat higher income (37% earning $100k+ annually).

These demographics paint a profile of crypto owners that aligns with characteristics commonly associated with traditional investors.

2. Knowledge and Perceptions of Crypto

The average crypto asset knowledge score among Canadians was 37%, indicating a limited understanding of practical, legal, and regulatory dimensions.

Although 51% could accurately define crypto assets, most lacked a working knowledge, and opinions on crypto assets’ role in the financial ecosystem were evenly split at 38%.

Intriguingly, those believing in the significance of crypto assets were more likely to consider future investments, with 31% planning to buy crypto assets in the next twelve months.

This suggests a potential correlation between trust in crypto assets and future investment intent.

3. Crypto Owners’ Tolerance For Risk

A majority of Canadians (56%) expressed limited tolerance for investment risk, impacting their openness to crypto assets.

Concerns about potential risks, including a perception of gambling, cybersecurity issues, and volatile value, were prominent reasons cited by non-owners for not investing in crypto assets.

This finding highlights the need for addressing risk perception and educating potential investors on risk management within the crypto space.

4. Motivations for Cryptocurrency Investments

Word of mouth emerged as the primary source of information for crypto asset purchases (41%), followed by social media influencers (21%) and consulting blockchain technology experts (20%).

Motivations for purchases included a belief in the technology’s long-term value (29%), speculative investment (28%), seeking higher returns than traditional savings (25%), and portfolio diversification (25%).

Surprisingly, 74% of current cryptocurrency owners were not recommended to buy by their financial advisors, and 60% never discussed this option. This reveals a significant gap in communication between financial advisors and their clients regarding crypto assets.

5. Awareness of Advertising for Crypto

Two-thirds (65%) of respondents recalled seeing advertising for crypto assets, with social media (55%) and online ads (43%) being the most common channels. While 46% felt ads had no impact, 38% were more willing to purchase crypto assets as a result of advertising.

This underlines the influence of advertising in shaping perceptions and decisions related to cryptocurrency investments, emphasizing the importance of responsible and informative marketing practices.

6. Crypto Owners’ Financial Knowledge

The average financial knowledge score was 48% across four questions, with 12% answering all correctly and 16% getting none right.

Crypto owners exhibited higher financial knowledge (57%) compared to non-owners (48%), and knowledge was also higher among investors, men, older individuals, those with higher education, and higher-income earners.

This underscores the correlation between financial literacy and crypto ownership, emphasizing the need for broader financial education initiatives to enhance overall market understanding.

Random Crypto and cryptocurrencies statistics and facts

Let’s look at some other and more random statistics and facts we have gathered from different sources:

The number of cryptocurrencies

It started with Bitcoin, but it has since exploded to about 22 000 different cryptocurrencies since then, according to several articles on Github. 

Of course, many of them are “busted” and is more or less inactive. From our understanding, about 40% are inactive. 

The Pareto Principle applies: the 20% biggest makes up about 80% of the market. 

Who trade cryptos – men or women?

It’s probably no surprise that the great majority of crypto traders are men. According to Github, 76% are men!

How many people hold or own cryptocurrencies?

No one really knows, because it’s decentralized, but based on different sources we have seen on the internet, it’s at least 100 million people – but probably more.

About 50 million Americans have indicated they own crypto.  

What is the total market capitalization of the crypto market?

The registered cryptos on coinmarketcap.com is 1.7 trillion (1 700 billion dollars), but this marketplace doesn’t take into account all cryptos, so the real number is probably above 2 trillion. 

For comparison, the total gold market is probbaly around 11-12 trillion USD. 

How many Bitcoins are not traded?

A huge part of the mined Bitcoin’s are never traded. They are owned by HODLers and long term investors, and among the earlu adopters. 

How much is never traded? Probably around 25% of the Bitcoins have not moved in 5 years or more, according to Github. 

How much of cryptos are being stolen?

No one knows for sure, of course, but security is a main issue for all crypto holders. Not only are your cryptos at risk if you own them on an exchange, but you face risk if you store them in a cold wallet. You might lose the password, for example. 

According to Github, about 2 billion USD is being stolen every year, at least. 

Crypto Statistics And Facts – Conclusion

The findings from the Ontario Securities Commission’s “Crypto Asset Survey” provide a comprehensive understanding of the crypto landscape in Canada, highlighting ownership demographics, knowledge levels, risk tolerance, motivations, and the impact of advertising.

As the cryptocurrency market evolves, these insights become essential for regulators, investors, and industry stakeholders to formulate informed strategies that foster responsible and informed engagement with crypto assets.

Addressing the identified gaps in knowledge, communication, and risk perception will be crucial for ensuring a sustainable and well-informed approach to crypto investments in the Canadian market.

Leave a Reply

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}

Monthly Trading Strategy Club

$42 Per Strategy


Login to Your Account

Signup Here
Lost Password