The Number of Cryptocurrency Wallet Users Keeps Rising
Data released just recently shows that the numbers of cryptocurrency wallet users has actually been gradually increasing for many years, essentially individually of the marketplace ups and downs. This positive trend has actually continued throughout the prolonged bearish market and has in reality steepened in the last couple of weeks.
Over 36 Million Crypto Wallets Created so Far
A research study released by market and customer information provider Statista assembles quarterly figures for a three-year duration. The variety of blockchain wallet users worldwide has actually jumped from less than 6.7 million in Q1 2016 to over 34.6 million in Q1 2019. This has included a continuous boost, with every quarter seeing more cryptocurrency wallets than the previous one.
A more detailed chart prepared by Blockchain.com validates the trend, which goes back to early 2013. During the entire duration, there have been two obvious spikes. The first one occurred between late November 2017 and completion of January 2018, when the variety of wallets jumped by 2.5 million. The 2nd began this April– nearly 2 million brand-new users have actually been registered since the beginning of last month.
The total number of wallet users on April 30 was 36,616,530, according to Blockchain.com's computations. The user count towards completion of April 2012 was less than 5,800. The difference, certainly, represents a huge boost in the number of individuals associated with the crypto space, regardless of all the problems along the way.
Things to Consider When Choosing a Wallet
Setting up a cryptocurrency wallet is a required action for anyone who wishes to get in the space. It permits you to obtain, store and spend digital coins. There are many options in the market and your option needs to depend on your top priorities..
For example, hardware wallets such as Ledger and Trezor arguably use higher security for digital assets. There are also popular desktop wallets like Jaxx or Exodus, online wallets such as Coinpayments, and mobile wallets developed for Android and iOS, like Edge. Blockchain.com provides a safe and popular wallet too. All of them support numerous cryptocurrencies.
If you need a light client established for various platforms, including mobile OS as well as Windows, MacOS and Linux, the Bitcoin.com Wallet is an open source, easy and safe tool to buy, store, send out and receive bitcoin. The application supports 2 significant cryptocurrencies– bitcoin cash (BCH) and bitcoin core (BTC).
New users can download and set up the app for free and purchase BCH and BTC with a charge card straight in the wallet. Since recently, the option has been offered not only to U.S. homeowners, however also to crypto lovers in the U.K. and Europe. The wallet allows you to quickly change between the 2 coins utilizing a service called Sideshift without the requirement for any registration or account creation.
Most likely the most attractive function of the Bitcoin.com Wallet is that it's a noncustodial platform. That indicates you'll be fully in charge of your funds at all times. These and other advantages are a few of the factors for the wallet's growing appeal. Almost 4 million Bitcoin.com wallets have been created up until now. That's close to 2 million brand-new wallets in just a year.
Do you think the growing number of cryptocurrency wallets in use is an indication of a strong positive trend in the crypto space? Share your thoughts on the subject in the comments section below.
Images courtesy of Shutterstock, Statista, Blockchain.com.
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