Cryptocurrency News

Alternative Finance Researchers of Cambridge Reveal That 100 Million People Now Use Crypto-Blockchain Based Assets

With the launch of Bitcoin (BTC) back in 2009 by its creator, Satoshi Nakamoto, the online trading platform had a new trading instrument added to its catalog known as Cryptocurrency. With its launch, the cryptocurrency platform caught the attention of millions of people. These people wanted to have a particular platform they could use to perform trades on a decentralized system without giving out personal information. They did not want to be afraid of losing all their assets if anything were to happen to their preferred cryptocurrency.

Although the crypto-blockchain industry has faced many bumps along the way where even the highest valued cryptocurrency (Bitcoin) got pronounced as dead 382 times (till now), it is still observing a constant uptrend and is attracting even more investors with the passing of every single day. Until now, the cryptocurrency industry has gained so much credibility and recognition that even economic giants such as Russia, China, India and Germany have accepted the crypto-industry as a legal instrument in their financial structure.

To measure the number of unique users currently in the cryptocurrency industry, the researchers at the Alternative Finance department of Cambridge started collecting the data. After careful analysis, they revealed that 100 million people from around the world currently have crypto-coins and blockchain-based assets in their possession.

In 2018, studies revealed 35 million users from around the world had the cryptocurrency assets in their possession. Moreover, at present, there are around 191 million (445% more) accounts that have been registered on different cryptocurrency-blockchain platforms. The researchers revealed that the main reason behind the sudden increase from 35 million user accounts to 191 million accounts in just 2 years is attributed to this year’s pandemic situation caused by the COVID-19 that left people without employments and as a result, the majority of the people resorted to the cryptocurrency platform to make a living.

They also clarified that although the total number of registered accounts is now 191 million, but out of these, only 100 million are unique as the remaining 91 million are either duplicates accounts or dormant accounts.

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