Bitcoin trading in Canada peaked in May 2018, and did not reach this level again in 2019, 2020 or 2021. This shows after investigating Bitcoin trading volumes conducted in the country's domestic currency. Despite this decline, Canada is believed to be in the top 10 of countries with the most Bitcoin trading in the world in 2020.
It should be noted that the source believes the domestic currencies are mainly used by the domestic population: it assumes residents from Canada are the only ones who make transactions using Canadian dollars. Whether this assumption is right or not, cannot be verified here. Also, the source does not explain the peak found in 2018, or whether the high trading volume that year was tied to a specific event.
Bitcoin trading volume on online exchanges in Canada from March 16, 2013 to March 13, 2021
The figures provided have been compiled by Statista from three different traders: LocalBitcoins, Paxful, and Bisq. Dramatic changes from one week to the next might be attributed to one of these traders providing lower figures than in a previous week.
The majority of figures were reported on Saturday, the end of the regular trading week. Occasionally, however, figures might be reported on a Friday or other day of the week. The source does not specify why this occurred.
The figures were originally reported in the domestic currency, and Statista converted these to U.S. dollars to allow for easy comparison between various countries. When figures were gathered on a Saturday - which was the case for most of the figures - the closing exchange rate from the previous Friday was used.
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Statista. (March 17, 2021). Bitcoin trading volume on online exchanges in Canada from March 16, 2013 to March 13, 2021 [Graph]. In Statista. Retrieved February 16, 2025, from https://www.statista.com/statistics/1222513/bitcoin-market-size-canada/?__sso_cookie_checker=failed
Statista. "Bitcoin trading volume on online exchanges in Canada from March 16, 2013 to March 13, 2021." Chart. March 17, 2021. Statista. Accessed February 16, 2025. https://www.statista.com/statistics/1222513/bitcoin-market-size-canada/?__sso_cookie_checker=failed
Statista. (2021). Bitcoin trading volume on online exchanges in Canada from March 16, 2013 to March 13, 2021. Statista. Statista Inc.. Accessed: February 16, 2025. https://www.statista.com/statistics/1222513/bitcoin-market-size-canada/?__sso_cookie_checker=failed
Statista. "Bitcoin Trading Volume on Online Exchanges in Canada from March 16, 2013 to March 13, 2021." Statista, Statista Inc., 17 Mar 2021, https://www.statista.com/statistics/1222513/bitcoin-market-size-canada/?__sso_cookie_checker=failed
Statista, Bitcoin trading volume on online exchanges in Canada from March 16, 2013 to March 13, 2021 Statista, https://www.statista.com/statistics/1222513/bitcoin-market-size-canada/?__sso_cookie_checker=failed (last visited February 16, 2025)
Bitcoin trading volume on online exchanges in Canada from March 16, 2013 to March 13, 2021 [Graph], Statista, March 17, 2021. [Online]. Available: https://www.statista.com/statistics/1222513/bitcoin-market-size-canada/?__sso_cookie_checker=failed