They don’t mention how they predict the 1B users by end of 2022, but briefly going over their report, and the chart on page 18 for 2021 (still logically lacking a month’s data), it looks like they might have made a rounded-up linear projection: If 2021 tripled from start to end, 2022 should at least triple the numbers of end of 2021 (their potential thought, not mine).
That roughly makes up for the 1B users projection, although, were it the method used, there should be some notes that back the hypothesis in an ever changing market and regulatory environment.
The actual number of users for 2021 is depicted here (as of July 2021), although the core calculus details are referenced here (June 2020 report).
It’s an estimate, bases on many assumptions (i.e. data is extrapolated from Exchange deposit addresses for a group of Exchanges, combined with their market share and a survey that stated that 89% of crypto users use Exchanges) and additional prior surveys. I’ve whipped through enough to grasp bits of their methodology, but I’m not going to try to go full in-depth.
Given the number of assumptions and chain usage of data (which tends to propagate the error), it´s going to be as estimate with many side notes.
Topic: Crypto.com Predicts 1 Billion Global Crypto Users in 2022! - page 3. (Read 488 times)
~ not unless maybe there can be a consortium of organizations that got money to spend on promotions or marketing.
Crypto.com is also one of these companies that are advertising on different sports/events. You see their jersey on NBA, UFC, and even European football leagues. They call it partnership but they probably spent a significant amount of money.Having said that, it's only natural that they come up with predictions like that. They're expecting their marketing efforts to bear fruit$.
Kind dazed on that number but it's just a prediction on the contrary that might be a good thing, I think on the long run it's expected for an increase.
One more thing, the number of 1 billion might indeed be reached because crypto.com decided to include the digital yuan in this:
I guess that make some sense on their prediction, I wonder why they included it as a reference for this prediction. Quote
As of November, China’s CBDC has been used for $9.7B transactions and 140 million people have opened wallets for the digital Yuan (eCNY).
Why? God knows!
Crypto.com has published a report asserting that it expects one billion crypto users by the end of 2022.
Oh god, again with the hundreds of millions of users, we are constantly bombarded with those numbers and if you look at the damn blockchain there is right now 1 full block out of 5, bitcoin does 300k a day and etherum 1.2 million, adding all of Binance tokens and the other major coins we get to 10 million and that is transactions, one user could and should do a lot of them to be considered "user".
At the current number, it would mean each "users" does one! not more than that, every three weeks, common!
If we had those numbers we won't be lingering around $50k for this long, just imagine, 200 million!!!!!
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?
There is a long way to 1 billion and we're just past the start line.
One more thing, the number of 1 billion might indeed be reached because crypto.com decided to include the digital yuan in this:
Quote
As of November, China’s CBDC has been used for $9.7B transactions and 140 million people have opened wallets for the digital Yuan (eCNY).
Why? God knows!
It's for the entire crypto community right and not just their number of users? There are also a lot of users from Coinbase and Binance, including the other exchanges that are also popular to this date.
The count is inevitable to grow because the market keeps on growing and growing and that's really bound to have a lot of users.
The count is inevitable to grow because the market keeps on growing and growing and that's really bound to have a lot of users.
No question that 2022 can be another year for more cryptocurrency adoption but projecting that users can be reaching up to 1 billion - that number can be hard to reach not unless maybe there can be a consortium of organizations that got money to spend on promotions or marketing. Now, if there can be at least five more small countries that can be adopting Bitcoin as a legal tender just like El Salvador, maybe that can helps a lot with the goal of one billion. Anyway, whether the industry can reach that target or not does not matter to all of us, what is important is we are growing at a good rate everyday.
That would be pretty nice if it happened. Bitcoin was over 1 Trillion in Market Cap at one point this year. I can only imagine what that would be at if there are more than double the amount of "users" as Crypto.com is stating..
Depends what they specifically mean by "users". If they actually mean people who actually use cryptocurrencies for their specific purpose or people who actually hold bitcoin as a hedge or a long term hold, I kinda doubt it. If they meant people who register on custodial exchanges just to temporarily ride on hype, then maybe.
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.
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