Cryptocurrencies gain favour in Canada as industry matures, survey shows

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Cryptocurrencies gain favour in Canada as industry matures, survey shows
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As a new survey shows growing interest in cryptocurrencies and tokens, Canadians may be asking themselves what goes into getting into the worldwide market.

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But how does crypto work and what should Canadians think about before opening their wallets and buying up tokens?University of Toronto finance professor Andreas Park told CTVNews.ca in a phone interview on Thursday that when it comes to crypto, it isn't always about investing and hoping for a jump in price. There can be functional uses, as well.The two assets prospective buyers look at areCryptocurrencies can be used for transactions or to store value.

"[This ledger] is made up of a series of blocks, each of the blocks contain a transaction, so you can't break the blockchain," George Bragues, assistant vice-provost and program head of business at the University of Guelph-Humber,"That's what makes it so resilient, what makes people trust it so highly."

"It definitely grew out of a skepticism to the current financial system," Anne Haubo-Dyhrberg, an associate professor at Wilfrid Laurier University's Lazaridis School of Business, told CTV News Kitchener.

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