Research: the number of cryptocurrency users in 2018 almost doubled

According to the Cambridge Alternative Finance Center, the number of verified Bitcoin and other cryptocurrency users in the first three quarters of 2018 grew by 80%. It is reported by Bloomberg.

As stated in the study, if last year there were 18 million users, today their number has grown to 35 million.

To see that Glad our new #cryptoasset report has already been covered by @crowdfundinside (including a summary of findings and report an interview with lead author @mrauchs ) and @bloomberg (user focus on figures).

Link 1: https://t.co/EeHFAVUChE

Link 2: https://t.co/3IoEZsibDr

– CambridgeAltFin CJBS (@CambridgeAltFin) December 13, 2018

According to the publication, while some critics predict that the price of Bitcoin may fall to zero values, these data may be important, signaling the likely recovery of the market.

It is also noted that most users are most likely still observers or long-term investors. Cryptocurrencies themselves, due to their volatility, are practically not used in commerce.

“The results of the study are consistent with the widespread belief that the majority of users, both experienced and novice users, are individuals, not representatives of business. These could be those for whom [cryptocurrency] is akin to a hobby, retail investors, consumers or users who are in search of a better investment or payment alternative, ”the report's authors write.

It was also found that the number of cryptocurrency accounts is growing.

"The strongest growth was in 2017, but the number of new user accounts, as well as the number of users verified on the basis of documents, continued to grow rapidly in 2018," the study says.

Earlier, experts of the Belarusian marketing agency BDCenter analyzed 30 of the most popular cryptocurrency exchanges and concluded that the largest number of users of these platforms is based in the USA, Russia and China.

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