Hardbacon to adjust its App as More Canadian Users Buy into Cryptos

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Hardbacon, a Canadian fintech company, has decided to adjust its apps after a recent survey indicates surprising trends among its users.

Hardbacon’s CEO Julie Brault said a good number of its app users own cryptocurrency. Brault added that the adoption of the meme stock indicates a shift where people are interested in holding cryptos.

Hardbacon surveyed 506 of its 30, 000 Canadian users from 5th June to 15th July. Half of the participants were from Quebec, and the rest from Ontario, 28 percent of the respondents held cryptocurrencies in their portfolio, 21 percent owned stock assets, and 65 percent owned government bonds.

Brault further noted that people were investing in cryptocurrencies while fully aware that it is not a safe investment. People know that cryptos are speculative and could burst at some point, and they would lose money.

“People know they’re taking a lot of risks. When they invest, they believe in it. They know it’s risky. They know it’s speculative, but they believe this is going to change the financial services industry. And, you know, I think it has the potential to do so, but it’s still unproven.”

Given that a good percentage of its users hold crypto, Hardbacon is looking for a way to add a crypto column on its app. Brault affirmed that the company hopes to move faster in adopting cryptocurrency.

Harsbacon launched in 2017. Since then, the fintech company is gaining market in Canada through its app that allows users to connect to their bank and investment accounts. The app allows users to plan, budget, compare financial services, and also invest.

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