1.Crypto.com is biased.They are a crypto company,so they want more people to become crypto users.
We need data coming from a neutral source.
2.The info about 292 million crypto users worldwide can't be verified.How did they come up with that number?
Counting user accounts on exchanges is wrong,because one user can have multiple accounts and many accounts are inactive.
3.What does "crypto users" mean?This seems like a pretty vague term.Do they include De-Fi users and NFT users in this term?
I believe that the crypto industry won't hit 1 billion users,even after 10 years.Actually,the crypto industry might never reach such amount of users.
The total amount of cryptocurrency users around the globe is below 100 million,but that's just my assumption.
Topic: Crypto.com Predicts 1 Billion Global Crypto Users in 2022! - page 2. (Read 486 times)
They just predict crypto users will cross 1B global users in 2022. And they also predict global crypto users will 5x in 2026. But it is just prediction it can be true or not no one know.
It's a prediction and anything can happen no one knows, some projects will unfold in 2022 which will facilitate the ecosystem of cryptocurrency as a market. We'll all benefit if the prediction occurs to be true. But, We only have 365 days to achieve such a huge task which may seem impossible. 1 Billion is a big number, to be sincere I doubt that their prediction is correct, but one thing is for sure the market cannot be predicted correctly.
It's volatile, that means it can boost and as well dump at any point in time.
It's volatile, that means it can boost and as well dump at any point in time.
Crypto.com has published a report asserting that it expects one billion crypto users by the end of 2022.
I think it is too optimistic to think that something like this is going to happen during the next year, I believe in the potential of bitcoin and all of that but to me if we had so many people using bitcoin and altcoins then I will see signs of this where I live, as I suspect that most stores would not like to miss on such a huge market, and since this is not the case then the only logical conclusion I can make is that the number of users we have is in fact way smaller than what those predictions may indicate.
Again, Coinbase claims to have over 73 million users, and Crypto.com asserts there are at least 292 million crypto users globally right now, according to the sources I posted. This means Coinbase has about 25 percent of global crypto users on its platform. Is this unreasonable? Where is the proof these numbers are wrong?
Those who question the Crypto.com research are essentially saying the Coinbase percentage of global crypto users is higher. Implicitly, they are taking a very pro-Coinbase stance. After all, mathematically, the higher the number of global users assumed, the lower the market share of Coinbase.
I just realized something: the 292 million figure appears to be based on the assumption of Coinbase having a 25 percent global market share.
It looks like CoinShares has come up with a similar estimate:
Both supporters and detractors have recently been likening bitcoin to the internet in 1997. Bitcoin has been growing at an annual rate of 113%, vs the internet’s growth at that time of 63%. Should bitcoin’s adoption slow to that of the internet’s, it would still lead to 1 billion users by 2024 and 4 billion users by 2030. With institutions such as Visa, Mastercard, Paypal, BNY Mellon, Morgan Stanley, Goldman Sachs and JP Morgan to name but a few all reversing their stance against bitcoin, that isn’t looking likely.
Those who question the Crypto.com research are essentially saying the Coinbase percentage of global crypto users is higher. Implicitly, they are taking a very pro-Coinbase stance. After all, mathematically, the higher the number of global users assumed, the lower the market share of Coinbase.
I just realized something: the 292 million figure appears to be based on the assumption of Coinbase having a 25 percent global market share.
It looks like CoinShares has come up with a similar estimate:
Both supporters and detractors have recently been likening bitcoin to the internet in 1997. Bitcoin has been growing at an annual rate of 113%, vs the internet’s growth at that time of 63%. Should bitcoin’s adoption slow to that of the internet’s, it would still lead to 1 billion users by 2024 and 4 billion users by 2030. With institutions such as Visa, Mastercard, Paypal, BNY Mellon, Morgan Stanley, Goldman Sachs and JP Morgan to name but a few all reversing their stance against bitcoin, that isn’t looking likely.
Crypto.com has published a report asserting that it expects one billion crypto users by the end of 2022.
Some excerpts:
According to Crypto.com research, there were over 292 million crypto users worldwide as of 30 November 2021.
[...]
Crypto will become a fixture in the alternative asset class for investment portfolios. The first crypto ETFs launched this year were met with demand beyond their capacity, suggesting that more crypto instruments in the mainstream finance industry will soon follow.
[...]
On the technical side of things, the crypto industry will have to scale fast to meet its exponential demand. Cross-chain DeFi protocols will become the norm, paving the way for a multi-chain future of replacing the siloed chains of the past.
Some excerpts:
According to Crypto.com research, there were over 292 million crypto users worldwide as of 30 November 2021.
[...]
Crypto will become a fixture in the alternative asset class for investment portfolios. The first crypto ETFs launched this year were met with demand beyond their capacity, suggesting that more crypto instruments in the mainstream finance industry will soon follow.
[...]
On the technical side of things, the crypto industry will have to scale fast to meet its exponential demand. Cross-chain DeFi protocols will become the norm, paving the way for a multi-chain future of replacing the siloed chains of the past.
It was a big surprise to see Crypto.com advertised so prominently on the last Formula 1 race of the championship, so they're certainly pushing it out there. However it is in their best interests to hype up crypto because they're earning a huge amount from fees for relatively low input - hence them having such a big marketing budget. At present lots of people are becoming more wary of crypto rather than embracing it, with some European countries pushing for it to be banned due to environmental issues. Until there is more clarity on that then people may stay away, and if any bans in Europe/North America were enacted it could crush the price of Bitcoin short term.
Maybe you should read the post from @stompix, he doesn't think it's even close to what you think, and I also think that India does not have maybe even 10% of that number, unless all are very quiet and peaceful citizens who do not express their views.
Not only do they not express their views but they also seem to hide everything else, from nodes to businesses accepting crypto, and they are doing a perfect job at it. Let me understand how could this be possible if we count 100 million "users" in India and ...what..2 million in Bulgaria and 1 million in Croatia?
So India has 14 nodes, Bulgaria 38 and Croatia 15. We can't blame this on datacenters, common. On what can we blame data for LN nodes?
And speaking of...
And they changed the whole crypto market when they accepted bitcoin.
You have 100 million users and a whole economy reshaped by merchants accepting crypto and not a few dozen poeple who would update this map?
If we assume 10% of the population owns crypto and in a city of 17 million like Mumbai, you have 6 businesses listed while in Pardubice you have 12...something is definitely wrong.
Yes, you will get 100 million users at some point, but there is no way you have them now.
If we experience a global market crash like what happened in 2008. and the stock market crashes, people will look for a safe-haven and this they will turn to the people currency which is bitcoin and its associate, when this happens we can be sure the 1B users will be realized. We have a responsiblity to prepare and educate people about how it works so they won't fall victim.
The only thing they can calculate is the number of people who have pass KYC and then the number of Crypto Users in 2022, and both metrics are inaccurate.
In general, if they say 10 Billion users, who will investigate them or try to falsify this news.
Perhaps all this talk was an attempt to pump the price and therefore it is possible to understand them under the promotional plans.
In general, if they say 10 Billion users, who will investigate them or try to falsify this news.
Perhaps all this talk was an attempt to pump the price and therefore it is possible to understand them under the promotional plans.
India is quoted with 100 million users, for god's sake their prime minister was voted by 229 million, you have half of that is crypto users and there is no major initiative or protest against the current situation regarding cryptos?
Someone invented and rounded up the figure to 100 million, and I could bet that it is those who dream that something like this will happen one day, they actually do FOMO to attract others to invest. As much as you and some others have tried to point out the illogicality of these numbers, there are those who firmly believe in it.
If I am not wrong, of these 300 million, almost 100 million plus users are from India. And they changed the whole crypto market when they accepted bitcoin. And I heard some news but I cannot find it right now, which was that the market analysis says 100k crore of Indian rupees has been invested in crypto after accepting bitcoin till this day.
Maybe you should read the post from @stompix, he doesn't think it's even close to what you think, and I also think that India does not have maybe even 10% of that number, unless all are very quiet and peaceful citizens who do not express their views. I wonder what will happen if India goes the way of China when it comes to cryptocurrencies - will we be able to survive it
This sounds like a very generous estimate, but even so it's merely around 4% of the population at best. And I'm sure it accounts for everyone who has some sort of cryptos, not merely for those who actually do anything with their cryptos from time to time. Even if the number of users triples within one year, which I doubt, it'll be less than 15% of the population, which is far from true global adoption. But I won't argue that in a matter of years the situation can change drastically, and cryptos will become as used as smartphones. That being said, people use smartphones many hours per day, whereas I'm not sure about all these crypto users. What also matters is how people use cryptos. If it's crypto trading, I'm not sure it's a big accomplishment.
I wouldn't doubt crypto.com's prediction because users showing interest and actually using these digital currencies is growing on a daily basis and am certain if this data was to be collected and plotted on a graph this certainly would show the exponential growth and besides being among the biggest crypto service providers they are in a position to know.
It's already 11 years Bitcoin exist but the crypto users only 292 million or 27 million/year and they predict 708 million people will interested about crypto in 2022? It's really far than the realistic, not to mention market still in red which make new people will not really interested.
If Bitcoin will bullish in the next year I predict the highest crypto users only hit 400-500 million, nothing more but can less.
If Bitcoin will bullish in the next year I predict the highest crypto users only hit 400-500 million, nothing more but can less.
If you compare it with the last few years then it is possible that cryptocurrency users would touch at the end of 2022. A lot of people introducing cryptocurrency day by day due to various reasons. It's quite important to spreading the word about cryptocurrency and Bitcoin with general citizens. Just do not expect all they need to invest, just introduce is enough to attract them later on. That's how Bitcoin enters our society. Recently many news published in our country about Bitcoin since it's illegal in my country. As a result, more citizens become more curious about Bitcoin and how this works exactly. So overall observation, I think crypto dot com report would be true, or would near-miss as well.
Crypto.com has published a report asserting that it expects one billion crypto users by the end of 2022.
Some excerpts:
According to Crypto.com research, there were over 292 million crypto users worldwide as of 30 November 2021.
...................
Some excerpts:
According to Crypto.com research, there were over 292 million crypto users worldwide as of 30 November 2021.
...................
Wow, we've reached a significant milestone.If I am not wrong, of these 300 million, almost 100 million plus users are from India. And they changed the whole crypto market when they accepted bitcoin. And I heard some news but I cannot find it right now, which was that the market analysis says 100k crore of Indian rupees has been invested in crypto after accepting bitcoin till this day. That is huge news. And it is true that the day after people learn about bitcoin, they begin to invest in it, and new users enter the market.If this continues, then 1 billion users is just a matter of time. If crypto.com predicted something like that, then it could happen too. They predict the reality.
Crypto.com has published a report asserting that it expects one billion crypto users by the end of 2022.
Some excerpts:
According to Crypto.com research, there were over 292 million crypto users worldwide as of 30 November 2021.
[...]
Crypto will become a fixture in the alternative asset class for investment portfolios. The first crypto ETFs launched this year were met with demand beyond their capacity, suggesting that more crypto instruments in the mainstream finance industry will soon follow.
[...]
On the technical side of things, the crypto industry will have to scale fast to meet its exponential demand. Cross-chain DeFi protocols will become the norm, paving the way for a multi-chain future of replacing the siloed chains of the past.
Some excerpts:
According to Crypto.com research, there were over 292 million crypto users worldwide as of 30 November 2021.
[...]
Crypto will become a fixture in the alternative asset class for investment portfolios. The first crypto ETFs launched this year were met with demand beyond their capacity, suggesting that more crypto instruments in the mainstream finance industry will soon follow.
[...]
On the technical side of things, the crypto industry will have to scale fast to meet its exponential demand. Cross-chain DeFi protocols will become the norm, paving the way for a multi-chain future of replacing the siloed chains of the past.
Not really convinced about the “users” word. I don’t know if in their minds if they’re considering those “one-time and be gone” type of users in the count, but I would rather believe the word “awareness” than “users”. That’s just my own opinion.
Yes 2022 is going to be huge for crypto adopters like us especially the metaverse, but the numbers being projected by Crypto.com are insanely ridiculous.
Even 292 millions users sounds a bit over rated! Because if tou dig at the ground level, you will realize that majority of the crypto holders are just investors who have either seen TV commercials or received a recommendation from their friends to invest in crypto to get rich. I would assume at leat 50% of these 292 millions are these kind of investors.
So even if the number goes up to 1 billion, a large percentage of that 1 billion will have no idea what blockchain is or what bitcoin is. What matters to them is the price and that's it!
Adoption it is!
So even if the number goes up to 1 billion, a large percentage of that 1 billion will have no idea what blockchain is or what bitcoin is. What matters to them is the price and that's it!
Adoption it is!
I really can't ever see getting a "real" number at this point in time. And they are saying 1/8 of the world will have crypto. I just don't see it.
Too many people with no access to it. Too many people who don't know or understand it. Too many people who don't trust it. And so on.
If they said 500 million I could go possibly.
The other issue is getting "real" numbers:
Once person can have accounts on Coinbase & Gemini & Binance & many more accounts. And all the unregulated / non KYC exchanges that you can't even get user into from.
Truly accurate numbers are just about impossible.
Just my view.
-Dave
Too many people with no access to it. Too many people who don't know or understand it. Too many people who don't trust it. And so on.
If they said 500 million I could go possibly.
The other issue is getting "real" numbers:
Once person can have accounts on Coinbase & Gemini & Binance & many more accounts. And all the unregulated / non KYC exchanges that you can't even get user into from.
Truly accurate numbers are just about impossible.
Just my view.
-Dave
Coinbase alone is claiming over 73 million verified users. While there is a lot of skepticism about Crypto.com research, I still haven't seen any evidence their estimates (at least of usage up to now) are wrong.
Approximately 73 million verified users, 10,000 institutions, and 185,000 ecosystem partners in over 100 countries trust Coinbase to easily and securely invest, spend, save, earn, and use crypto.
Approximately 73 million verified users, 10,000 institutions, and 185,000 ecosystem partners in over 100 countries trust Coinbase to easily and securely invest, spend, save, earn, and use crypto.
Given how aggressive the company is when it comes to promotions, I'm not surprised that they have reached for one sound and round number that will appeal to anyone who fantasizes about the new ATH and Lambos. But as much as they want to be optimistic, or does anyone want to believe that such a thing is possible, is it realistic that in 12 years the number of crypto users has reached a total of 292 million, and then in one year that number will triple?
Children believe in fairy tales, adults should know the difference between a fairy tale and reality, and I believe that this is nothing more than an attempt by the company in question to gain more new clients through rather ill-founded speculation.
Children believe in fairy tales, adults should know the difference between a fairy tale and reality, and I believe that this is nothing more than an attempt by the company in question to gain more new clients through rather ill-founded speculation.
Jump to: