How To

How to Know the Total Number of People Using Bitcoin?

In the year 2017, cryptocurrencies like Bitcoin not just encountered an enormous 1,900% rally to hit an unparalleled high of above $20,000, it likewise managed to turn into a standard investment venture for the majority. Bitcoin would now be traded on 2 major US derivative exchanges, the CME and the CBOE, as BTC futures contracts.

While the popularity of Bitcoin rose exponentially in 2017, the total number of BTC users across the globe is comparatively lower when taking into consideration the payment gateways such as Credit Cards or PayPal.

Individuals Using Bitcoin

Owing to Bitcoin’s pseudonymous nature, it is difficult to exactly decide how many bitcoin clients are using this currency. Regardless of the fact, there is information that can give you an unpleasant analysis of what number of individual bitcoin clients there really are.

Right now, there are just about 28.5 M bitcoin wallets which hold over 0.001 BTC as indicated by the data assembled by Bitinfocharts.com. Nonetheless, most bitcoin clients use multiple bitcoin wallets and utilize numerous wallet addresses to build their financial security while making transactions in bitcoin. Subsequently, the number of bitcoin clients is likely under 28.5 M.
 
Coinbase, one of the mainstream bitcoin wallets and trade suppliers supposedly has more than 13 million clients, which would recommend that the total number of bitcoin clients is somewhere close to 13 million and not 28.5 million. Considering the fact that Coinbase is accessible in 32 nations and that it has gained popularity as one of the regular bitcoin wallets for beginners, its client base gives a very good indication as to how many clients there are, rather than simply examining the wallet addresses.

All things said, there are a few giant nations such as South Korea, China and Japan which are not yet serviced by a popular platform like Coinbase. Also, no bitcoin clients in South Africa or America can utilize the organization's service. As the number of bitcoin clients in Africa, South America and Asia who have chosen other wallet suppliers gradually grows, the number of bitcoin clients must be significantly greater than the 13 million customer base of Coinbase.

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