Canadian investors are generally known for being risk adverse, but when it comes to trading cryptocurrencies investor anxiety seems to be tied directly to age and income.
This, according to a recent Environics survey commissioned by Coinberry, Canada’s first federally registered commission-free crypto trading platform.
According to the survey, younger Canadians are more confident in the rewards of cryptocurrency investing than older Canadians.
40% of investors aged 18-34 identified cryptocurrencies as ‘high return investments.’ Younger investors (36%) were also more likely than older age groups (18-26%) to believe that wealthy Canadians invest in cryptocurrencies.
However, the same survey also showed younger investors are more concerned about fees. 42% of respondents aged 18-34 cited the high cost of fees as a ‘major concern’ in cryptocurrency investing, a much higher number than older groups.