WHY CRYPTOCURRENCY IS GOING TO BE MORE POPULAR IN CANADA

With the help of money and law, the government of Canada is contributing to the development of new blockchain technology, which will position Canada as a future leader in the cryptocurrency industry. Let’s take a look at the role that the government plays in the cryptocurrency market by investing in it. Mitchell Demeter, the president of Netcoins, is credited for installing the very first bitcoin ATM machine. This event marks the debut of cryptocurrencies in Vancouver, Canada. It was immediately adopted at the Blenz Coffee Shop in Vancouver, British Columbia, where he was working. According to coinatmradar, Canada now has 771 bitcoin ATMs, which represents 9.5 percent of the total available globally. This is evidence that there is a need for the digital money, despite the fact that bitcoin ATMs may no longer be as fascinating as they once were. As of late, we have seen an increase in the number of cryptocurrency-related activities that are taking place on trading platforms like as coinsquare, mybtc, ndax, coinberry, andnetcoins. Canada is currently making investments in blockchain technology. The Toronto Stock Exchange was the first major exchange in the world to host 3iq, which is a digital asset fund manager, and to provide investors with the opportunity to have bitcoin as an investment choice. As a result of the incorporation of 3iq into the stock market, investors will now have the opportunity to include bitcoin into their investing portfolios in the same manner that they have previously incorporated conventional assets. In February of 2020, 3iq and mavennet, a company that specializes in blockchain technology, collaborated to produce qcad, the first stablecoin that was attached to the Canadian dollar. According to this, one qcad will always be equivalent to one cad. QCAD may also be used to trade with other cryptocurrencies, which is another option. In addition, the Canadian government has only recently awarded contracts to Mavennet and another blockchain company, peer ledger, in order to facilitate the traceability of steel. The purpose of this contract is to improve the efficiency of the industry, guarantee responsible sourcing, and assess whether or not the needs for steel are satisfied inside the nation. The government of Canada has begun to have trust in the potential of blockchain technology to boost the Canadian economy with the signing of this contract. There is a persistent desire on the part of the Canadian government to promote blockchain technologies, cryptocurrencies, and enterprises that make use of these technologies, and we anticipate a significant increase in this area in the year 2020. As a result of the impending regulation of cryptocurrencies in Canada, it is quite probable that the usage of digital currencies will become more widespread and widespread acceptance will likely occur. Create an account at netcoins if you are interested in beginning your participation in the cryptocurrency market.