In 2019 over 40m cryptocurrency wallets have been created

eaLiTy

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Quote from: Baoo on February 02, 2020, 10:20:20 AM

What going to happen when all the governments recognize cryptocurrencies?
In my opinion, If this happens then it is certain the value of FIAT will decrease, and the opposite is true for Bitcoin and the followers ( the other crypto ). But we all know that the whales are controlling the market in all the time. Will this have a negative affect?

I was amused by your theory, how you are certain that the value of FIAT currency will decrease while the price of crypto will increase. I would like to know your theory which has no logic economically and financially we will see how the market will get impacted when countries start implementing rules and regulations for the crypto market space and how our privacy is at stake while the authorities will shut down anything that gives the users privacy, so there is a big juggle coming up and here you are thinking that fiat value will decrease Cheesy

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kraiwoc2

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This is a lot. I didn't know that so many were created. I think this year will be created the same amount!

Baoo

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Well, these statistics are really interesting and expected to be honest due to the community of crypto is on a continued rise in the entire world, we can conclude that the presence of Blockchain technology has a postive affect on most of domains. In fact, this definitely led to a spread of cryptocurrencies and wallets due to they are linked.

What going to happen when all the governments recognize cryptocurrencies?
In my opinion, If this happens then it is certain the value of FIAT will decrease, and the opposite is true for Bitcoin and the followers ( the other crypto ). But we all know that the whales are controlling the market in all the time. Will this have a negative affect?

XCANA

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Quote from: imstillthebest on February 02, 2020, 08:05:34 AM

Quote from: XCANA on February 02, 2020, 07:41:43 AM

Quote from: Dreamr on October 30, 2019, 01:14:17 PM

This is awesome, it shows that cryptocurrency users are growing exponentially from all over the world. Seems like more people are now joining the cryptocurrency ecosystem. The best thing was in 2016 there were only 8 million wallets and by mid-2019 that number reaches up to 40 million, wonderful!

Probably not, what came to my mind was that; these wallets created from 2019, are they all usable? How many of these wallets are currently in use, I mean potentially and practically in use ?. We have heard of many that where created in the past but where not in used till date. Although, we hope to see more usability wallets be created for the spread of Bitcoin and cryptocurrency across the length and breadth of the world.

what important is that there are people that are curios to know about cryptos and they ended up opening a crypto wallet . we cant blame them if they stop using thier wallet . what if they only switch to other crypto wallets or what if they only being busy at something . who knows they might comeback one day and start using crypto again . the increase of 8 to 40 million was huge . imagin it only took 3 years to accumulate those massive amounts . how much more when we go to another 3 year ? not to mention that crypto was super hot this year .

My point was that; instead of looking for Cryptos wallets without funds, it should be for them to account for active cryptocurrency wallets instead. This would have make more sense, than just giving out the total wallets available in Cryptos.

Basically, many of these wallets created might be those who lost their password and pass phrase to their wallets. If these are the cases, then, no hope of retrieve.

sNize

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40 million wallets for bitcoin only or all 142349+ cryptocurrencies out there?

imstillthebest

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Quote from: XCANA on February 02, 2020, 07:41:43 AM

Quote from: Dreamr on October 30, 2019, 01:14:17 PM

This is awesome, it shows that cryptocurrency users are growing exponentially from all over the world. Seems like more people are now joining the cryptocurrency ecosystem. The best thing was in 2016 there were only 8 million wallets and by mid-2019 that number reaches up to 40 million, wonderful!

Probably not, what came to my mind was that; these wallets created from 2019, are they all usable? How many of these wallets are currently in use, I mean potentially and practically in use ?. We have heard of many that where created in the past but where not in used till date. Although, we hope to see more usability wallets be created for the spread of Bitcoin and cryptocurrency across the length and breadth of the world.

what important is that there are people that are curios to know about cryptos and they ended up opening a crypto wallet . we cant blame them if they stop using thier wallet . what if they only switch to other crypto wallets or what if they only being busy at something . who knows they might comeback one day and start using crypto again . the increase of 8 to 40 million was huge . imagin it only took 3 years to accumulate those massive amounts . how much more when we go to another 3 year ? not to mention that crypto was super hot this year .

XCANA

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Quote from: Dreamr on October 30, 2019, 01:14:17 PM

This is awesome, it shows that cryptocurrency users are growing exponentially from all over the world. Seems like more people are now joining the cryptocurrency ecosystem. The best thing was in 2016 there were only 8 million wallets and by mid-2019 that number reaches up to 40 million, wonderful!

Probably not, what came to my mind was that; these wallets created from 2019, are they all usable? How many of these wallets are currently in use, I mean potentially and practically in use ?. We have heard of many that where created in the past but where not in used till date. Although, we hope to see more usability wallets be created for the spread of Bitcoin and cryptocurrency across the length and breadth of the world.

FanatMonet

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It seems to me that the number of wallets created may not reflect their apparent potential.

In my opinion, it would be more visual to look at the number of wallets for which operations are performed at least once a month or the amount of 0.1 BTC is stored on them.

fiulpro

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I do have like 5 wallets that I created and I use like 2 of them only and am talking about the ones I could remember about , I really don't know , sometimes I just try and sign up for a new wallet and it already shows you are already a member please sign in 😂 , so we really cannot make a good use of these numbers ..
If we talk about the investments in those then we would be able to do something with it .
But then again the companies have their own private policies and they are not supposed to disclose that information.

xiboothrezi

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Quote from: Harlot on October 27, 2019, 03:13:55 PM

Quote from: milewilda on October 27, 2019, 02:21:15 PM

snip--

Yeah the article pointed out that as well and these numbers cannot represent the total number of users in the industry, considering the fact that anyone can own multiple wallets and create multiple accounts this cannot simply translate into the demand or growth in the industry. What's more interesting to see is to actually see the use of cryptocurrencies in our everyday lives this is where the point that we will see cryptocurrencies in general are growing in our world. The volume of wallets created cannot show any important things about growth, it simply just a number of wallets we don't even know what number of them are active or not.

You are right. What is the meaning of that number if it does not accurately represent the number of users in real? it could be that one person makes many wallets. Although it can be used as an illustration of the increasing interest in cryptocurrency, it is less accurate. Apart from multiple accounts, an increase in the number of users of an exchange that actually applies KYC as a condition for conducting all types of transactions using an exchange can be used as material for analysis. Of course, by limiting the problem to things that cannot be controlled and are confidential.

SirLancelot

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Quote from: hoaryal1 on October 27, 2019, 01:10:37 PM

More than 40 million cryptocurrency wallets have been created, as of mid-2019, according to market data provider Statista. The report from Statista revealed that there were only around 8 million digital asset wallets in 2016.

The latest numbers from Statista’s report are quite staggering when you consider they’re based on the growth of a single crypto wallet provider, Blockchain.com.

The London-based wallet provider offers one of the most widely-used wallet clients which includes support for Bitcoin (BTC), Ether (ETH), Stellar (XLM), Paxos Standard Token (PAX), and Bitcoin Cash (BCH).

Full article

The figure looks great, but just count that 40 percent of those wallet are redundant which I know that 1 person may even own more than one wallet, which may be as a result of mistake or loss of a particular wallet they once had, but what I can know is that there are 21 million users of bitcoin and that is what is more of concern to me, which I think it is still very low compared to the number of populations that we have worldwide.

It shows that there are still so many people that are yet to start making use of bitcoin, but if we look at it from the angle of value, bitcoin value has really tried for us to have just 21 million wallets which I would also count as users, and the price has already reached this $9k, and I believe that as adoption rate increases, more wallets will be created.

Dreamr

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This is awesome, it shows that cryptocurrency users are growing exponentially from all over the world. Seems like more people are now joining the cryptocurrency ecosystem. The best thing was in 2016 there were only 8 million wallets and by mid-2019 that number reaches up to 40 million, wonderful!

airdnasxela

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It's a big change and improvement to bitcoin for the past 10 years but we still need to go further to reach our aim which is mass adoption. Yes it is not accurate but this also matters because it shows how big bitcoin changes over time. Even without this statistics, we all know that bitcoin is continuously growing.

Another year will come for bitcoin and let's expect more positive happenings and more wallets to come!

Palider

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Quote from: jootn2kx on October 30, 2019, 07:52:27 AM

That does not really say much, as anyone can create as many wallets as they wish. Most people on this forum probably have more than one wallet, which shows how imprecise such data can be.

2016 crypto currency is just beginning to be recognized around the world,

2017 was the year when it was reported on television, radio and on social media websites.

2017,2018 and 2019 adoption so many new users have contributed to the rise of 40 million wallets recorded by Statista, but as I read the article I found that they only looked at three wallet providers, (correct me if im wrong) and imagined there were only three of the wallets how about the other wallets.

jootn2kx

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That does not really say much, as anyone can create as many wallets as they wish. Most people on this forum probably have more than one wallet, which shows how imprecise such data can be.

qiman

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This is very promising indeed, although I think many are exchange wallets as more and more people are trying to trade with margin to get more Bitcoin and also collect other major altcoins. I see also many of the unbanked coming in and mining coins and converting them slowly to Bitcoin to amass some wealth for themselves and their families. More and more people are learning and being empowered by the Blockchain technology that Bitcoin has unleashed and it will help create many many more wallets in the future coming years a more young people enter this niche market.

elisabetheva

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It is also surprising that so many wallet forms have been formed, but it can also be concluded that most wallets are made only temporarily to accommodate the tokens that were made, but subsequently are not used anymore. so naturally there will be a lot but what is really needed is only a few.

Beparanf

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Quote from: Leonardo7 on October 30, 2019, 01:57:42 AM

Is this a particular wallet provider or general wallet combined? If this is all wallets by users then the figure will be wrong I know my country would have created more than 2M this year alone because of the massive education of blockchain going on in campuses and media.

It's not all wallet, there are only names of wallet mentioned in the article, however if even half of it were really using it and doing some transactions then it can be consider as a good adoption. If there are more ways to conduct the tally of possible user in the world not just by wallets then it can attract more individuals to be amazed how late they are in this crypto craze which consider more effective than the usual transactions.

Leonardo7

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Is this a particular wallet provider or general wallet combined? If this is all wallets by users then the figure will be wrong I know my country would have created more than 2M this year alone because of the massive education of blockchain going on in campuses and media.

Pakar11220

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Dear , Its good news to see but remember these are actually nor all the individual users who have created these accounts but probability is more that single person has created multiple accounts. But even if single person has multiple accounts but according to some survey number of wallet creation in such big number means user of crypto currency is increased quickly in this year and that will be double or triple in coming in time as world is now getting interesting more in crypto currency.

Topic: In 2019 over 40m cryptocurrency wallets have been created (Read 725 times)