The Number Of Cryptocurrency Users Almost Doubled In 2018
According to the Cambridge Centre For Alternative Finance, the number of verified cryptocurrency users grew by 80% in the first three quarters of 2018. As stated the reseach, if last year there were 18 million users, today this number has grown to 35 million.
Glad to see that our new #cryptoasset report has already been covered by @crowdfundinside (including a summary of report findings and an interview with lead author @mrauchs) and @bloomberg (focus on user figures).
Link 1: https://t.co/EeHFAVUChE
Link 2: https://t.co/3IoEZsibDr
— CambridgeAltFin CJBS (@CambridgeAltFin) December 13, 2018
According to the publication, while some critics predict that the price of Bitcoin may fall to zero values, these data may be important, signaling the likely recovery of the market.
At the same time users are most likely still observers or long-term investors. Cryptocurrencies themselves, due to their volatility, are practically not used in commerce.
“The results of the study are consistent with the widespread belief that the majority of users, both experienced and novice users, are individuals, not representatives of business. These could be those for whom [cryptocurrency] is akin to a hobby, retail investors, consumers or users who are in search of a better investment or payment alternative, ” the author states.
The number of cryptocurrency accounts is growing:
"The strongest growth was in 2017, but the number of new user accounts, as well as the number of users verified on the basis of documents, continued to grow rapidly in 2018," the research says.
Earlier, experts of the Belarusian marketing agency BDCenter analyzed 30 of the most popular cryptocurrency exchanges and concluded that the largest number of users of these platforms is based in the United States, Russia and China.