A decade ago, only a few people knew what cryptocurrencies were. Even fewer were involved in crypto trading. It is understandable if we consider that just a handful of cryptocurrencies existed back then. But things have changed. There are nearly 23,000 cryptocurrencies today, with a total market capitalization of $1.1 trillion.
So, how many people use cryptocurrencies worldwide? What percentage of the global population is aware of the existence of cryptocurrencies? Let us review some interesting statistics about crypto usage in 2023.
Crypto Adoption Is on the Rise
According to a 2022 United Nations (UN) report, the world population crossed 8 million on November 15 last year. It was a tremendous growth in just a few decades. Other statistics indicate that one billion people worldwide have used a crypto exchange at some point. Hence, 12.5% of the global population knows what cryptocurrencies are.
People Owning Cryptocurrencies
It is estimated that over 420 million people own cryptocurrencies as of 2023, including the most popular coins like Bitcoin (BTC) and Ethereum (ETH). By far, Bitcoin remains the most popular cryptocurrency in the market. Bitcoin owners constitute about 65% of cryptocurrency users. The average Bitcoin owner holds around 0.01 BTC.
Statistics indicate that 32% of all crypto owners reside in Nigeria, making this country the top in cryptocurrency possession. Vietnam is second with 21% of all crypto owners worldwide, and The Philippines is third with 20%.
How People Use Their Cryptocurrencies
The number of cryptocurrency users keeps increasing despite the catastrophic events that shattered the crypto market in 2022. Approximately 40% percent of crypto users hold their digital coins in hopes of selling them at a profit in the future. Another 22% of crypto holders stake their cryptocurrency to earn rewards, whereas 11% use their coins to pay for goods and services online. The rest trade their crypto assets to make profits in a shorter time.
Conclusion
Cryptocurrencies are here to stay! Since the launch of Bitcoin in 2009, the crypto market has dramatically evolved. In the early days, only geeks and tech enthusiasts knew about cryptocurrencies. Today, one-eighth of the world’s population knows what cryptocurrencies are. With over 420 million crypto users, imagining a world without Bitcoin and altcoins is hard. Likewise, the number of exchanges to buy, sell, and trade cryptocurrencies has increased. There are around 500 crypto exchanges as of April 2023. However, the best option for new and experienced crypto users is LetsExchange.io. On our platform, you can easily swap cryptocurrencies without registration.