It is anonymous, so you don’t have to worry about exposing personal information to potential criminals, although for this reason cash is also used in the underground economy. People also hold onto cash as savings for a rainy day. Bank of Canada research suggests that changes in cash management practices could also help explain the constant demand for cash.
6 So let’s talk now about cryptocurrencies. Some Canadians appear intrigued by Bitcoin – the very first Bitcoin ATM in the world was installed in Vancouver just over a year ago. And as of last July, a quarter of the world’s Bitcoin ATMs were found in Canada. There’s one here, in Kitchener-Waterloo.