Home Business News Blockchain wallet hits over 47m users globally

Blockchain wallet hits over 47m users globally

by Peter Smyth Tech Journalist
7th Apr 20 11:48 am

Recent years have witnessed an impressive growth of the global cryptocurrency market, followed by the surge in the number of blockchain wallets used all over the world. According to data gathered by Finanso.se, the number of blockchain wallets doubled over the last two years, reaching more than 47 million users globally in 2020.

Over 12m new users in the last year

Blockchain wallet allows users to manage and store cryptocurrencies such as Bitcoin, Bitcoin Cash, Ether and Stellar. Statistics show the number of people using these crypto wallets has been rapidly growing over the years.

In 2016, there were nearly 11 million blockchain wallets in the world, revealed the Statista data. By the end of the next year, the number of their users grew by 95% and reached 21.51 million globally. The noticeable rising trend continued in the last two years, with the number of blockchain wallets jumping over 44.5 million at the end of 2019. Statistics show the number of users increased by over 12 million in 2019 only.

Ether transactions rise, Bitcoin kept in wallets

Cryptocurrency transactions are extremely complex and include a set of steps crypto wallets and crypto networks have to go through so that the exact amount of virtual money gets to the recipient.

Statistics indicate the number of Bitcoin and Ether daily transactions, as the two leading cryptocurrencies managed by the blockchain wallet, fell at the beginning of 2020 reaching 301,000 and 577,000, respectively. However, the number of Ether transactions has been on the rise for the last three months, jumping over 735,000 in April.

As the most significant name in cryptocurrency in terms of both market cap and price index, Bitcoin reached 325,000 daily transactions in March. Still, the recent data show Bitcoin investors became more interested in keeping their funds safe in personal wallets than on exchanges, as the number of daily transactions fell under 275,000 in the first week of April.

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