According to a study by the researchers of the Cambridge Centre of Alternative Finances, the number of users of the cryptocurrency is growing exponentially. Now, all over the world, there are more than 100 million people that use crypto assets. This is a huge growth in comparison with the 35 million users, which the same researchers have suggested two years ago.
According to the document, in the current moment, there are “101 million unique users of crypto assets that have 191 million accounts.” The main reason for the large number of wallets in one user is associated with the desire for anonymity and the interaction with various service providers.
The researchers have added that the results of the survey match with the findings of other organizations – according to the research carried out on the order of the financial regulator of the United Kingdom, the growth was 78%.
Bitcoin is largely scaled by capital, not by users. However, it is useful to note its users base is spread all around the world, – highlighted Castle Island Ventures analyst and co-founder of the analytical company CoinMetrics Nick Carter.
It is worth to mention that the overwhelming majority of the users of the cryptocurrencies do not show any activity, especially those that are based outside of Europe and North America. Service providers from North America and Europe share a fairly high user activity, 40% of the total number of users are active.
Here are some more interesting observations:
- Companies based in North America and Europe, say that on average 30% of their clients are institutional clients.
- 41% of the crypto companies in the Asian-Pacific region are working primarily with miners, which is due to their high concentration in the region, especially in China.
The growing number of crypto service providers primarily provide their various services to cryptocurrency hedge funds (37%), online traders (30%), and miners (27%).
