Crypto Adoption Is on The Rise
Here’s the proof!
From what I have noticed, a lot of people hear about cryptocurrencies only when Bitcoin hits new all-time highs, especially close to the peaks because those are the times when there is a lot of buzz about it in the news, there is the fear of missing out present and even people who didn’t give too much credit to Bitcoin or didn’t know anything about it start to become interested due to the hype that’s created around the subject.
What about now, is crypto adoption on the rise? How many people know about Bitcoin and how mainstream cryptocurrencies are?
What Are Statistics Saying?
If we are doing a little bit of research on Google, we are finding that on the greatest exchanges of crypto, such as Coinbase, or Binance we have the following number of users in 2021, according to businessofapps.com:
- Coinbase has 56 million users compared to 30 million in 2019 and 13 million in 2017
- Binance has 28.6 million users compared to 19.5 million in 2019 and 1.5 million in 2017
Other statistics show us that, the number of users for exchanges like Coinbase is growing much faster close to the end of the bull run cycles. This confirms just what I was saying in the introduction. The awareness about the potential of the crypto market probably becomes much greater in those times.
On the blog of Chainalysis, which is the blog of a data analysis and data research company, only in the last year, from July 2020 to June 2021, there was a staggering increase in the adoption of cryptocurrencies at the global level of 880%.
A company based in Singapore named TripleA offers statistics about the ownership of cryptocurrencies around the globe. To have a better perspective, we see that most cryptocurrency owners are in India (100 million). In the second place we have the USA (27 million) and in the third position is Nigeria (13 million).
According to statista.com, the number of blockchain wallet users worldwide has increased constantly from 1 million in January 2014 to 66 million in January 2021. This is an increase of 6600% in about 7 years.
Quite a good increase I would dare to say!
Are Cryptocurrencies Becoming Mainstream?
I am not sure if cryptocurrencies are becoming mainstream right now. Well, they are mainstream at least for people who are interested in the crypto space, not for anyone else. They will become mainstream for the masses for sure once people start using cryptocurrencies more as a means of payment instead of asset storing or for investment purposes only.
I am quite confident that soon we will have a mainstream adoption of cryptocurrencies, especially because now, when there are more side projects than ever on blockchains, covering many areas of activity, the metaverse will gradually change the way we live, while cryptocurrencies will change the way we make payments and the way we see and use money in general.
We are just at the beginning of a major change in society, similar to the one that people lived when computers and the internet were just starting to be adopted by the masses.
