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

A report by Cointelegraph, a Bank of Canada annual survey shows that Canadians have long preferred to use cash and bank cards for payments in 2022 and 2023. However, the use of some alternative payment methods has increased overall in the past decade, but only less than 3% of Canadians have used Bitcoin or other cryptocurrencies for daily payments for two consecutive years. Among many other alternatives to cash and credit cards, most Canadian respondents prefer to use electronic transfers. On the other hand, cryptocurrencies remain the least popular payment method in Canada. In 2022, 2.2% of respondents used cryptocurrencies for payments, which increased to 2.5% by 2023.