Crypto.com platform experts published a new report on the number of users cryptocurrency around the world. In general, comparing unique cryptoadres with the number of people is difficult. Therefore, analysts methodology combines the status data of the blockchain with several mixed parameters. As a result, they define separate estimates on the two largest cryptocurrencies on market capitalization, that is, Bitcoin and Ethereum. Then the special indicator is calculated, which is used to track the trends of the number of users of digital assets over time. We tell about the situation more.
For a start, a small explanation. It is difficult to calculate the users cryptocurrency, since one person can own an infinite number of addresses. There are vivid examples of this: as we reported in December last year, one user created approximately five hundred addresses in the Ethyurium network and used them on a 1inch decentralized Exchange. So he hoped to get a bonus for early users in an enlarged size. However, as it turned out, he made one mistake. To obtain a reward from the Exchange, it was necessary to carry out transactions at least $ 20, and its figure was 17 dollars.
In addition, in the network, the Bitcoin wallets create new addresses to obtain coins and in such a way as partially notice your traces. So here to calculate the real number of users is even more difficult.
Finally, it is important to take into account different blocks, because the same person can use various networks, because of which he will have several cryptocurrency addresses. For example, it can keep savings in Etherium, but to hold a swap on Binance Smart Chain (BSC) due to lower commissions. Also, you should not forget the Solana network from the founder of the FTX Exchange Sam Bankman-Frida, which is also actively developing.
It becomes obvious here that it is very difficult to determine the exact number of users cryptocurrency throughout the world. However, Crypto.com experts still attempted.
How many people are playing cryptocurrency?
Over the past eight months, June, August and January were marked with the highest growth rates. This trend coincides with the growth of Bitcoin and Etherium prices for the same period of time. In particular, the growth in the adoption of blockchain assets in August 2020 was largely due to the popularity of the decentralized finance sector, Cointelegraph reports.
Bitcoin's integration and popular altcoins on PayPal Network in November 2020, along with GRAYScale and MicroStrategy investments also asked a new trend for the next months.
The impact of these events on investors is obvious. The appearance of the cryptocurrency on the PayPal platform made it possible to significantly more people to interact with cryptocurrency. In addition, they do not need to worry about the safety of funds and their safety, since the centralized service does it independently. Well, the major purchases of bitcoins and other coins from the world-famous companies improved the reputation of coins and made it clear that they can be considered as a complete tool for preserving and multiplying value.
By January, the global number of users of Bitcoin was estimated at 71 million compared with 14 million for Etherium. This month, the number of users of each coin has increased dramatically - by 30.2 percent and 13.1 percent for BTC and ETH, respectively.
In general, it turned out that in the period from May 2020 to January 2021, the number of users cryptocurrency increased from 66 to 160 million people.
And although Crypto.com's research methodology allows you to display a fairly accurate picture of what is happening, analysts note that in a similar way to count the active users of platforms for OTC-trading is very difficult, because they carry out transactions in theline - that is, bypassing cryptocurrency exchanges. So in reality, the number of active users cryptocurrencies can be even higher than the figures given in the study.
We believe that it is almost impossible to determine the real number of users cryptocurrency in the world, but analysts have done excellent work. In addition, the main result of their research was the confirmation of the fact that the growth of fans of blockchain assets. And since the indicator increases confidently and sharply, investors may certainly count on continued large-scale marketing.
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