Quick Answer 🔍How many crypto wallets are there in 2024?
There are a total of 84.02 million cryptocurrency wallets in use.
As more people become aware of cryptocurrency, crypto wallets are becoming more prominent.
Crypto wallets serve as the gatekeepers of digital assets, ensuring their safety and facilitating seamless transactions within the digital asset ecosystem.
Without a wallet, you could not send or receive cryptocurrency.
In this resource, we will answer some of the most asked questions about cryptocurrency, including how many crypto wallets are used worldwide.
- Over 84.02 million crypto wallets are currently in use worldwide.
- The global cryptocurrency user base in 2023 is expected to exceed 420 million.
- With over 150 million users worldwide, Binance is still the most popular crypto wallet.
- As of today, there are over 26,000 cryptocurrencies in circulation.
- One out of every ten people in the world owns cryptocurrency
- The blockchain technology market is poised for exponential growth, with projections indicating a valuation of $39.7 billion by 2025.
- At $35,165 per coin, Bitcoin is the most valuable cryptocurrency in the market.
How Many Crypto Wallets Are There in 2024?
1. As Of 2022, There Are a Total of 84.02 Million Cryptocurrency Wallets in Use.
Today, cryptocurrency wallets are becoming more user-friendly and accessible, with a wider range of options available, including software wallets, mobile wallets, and hardware wallets.
This increased accessibility has made it easier for individuals to store, manage, and transact in cryptocurrencies.
In 2022, there are 84.02 million cryptocurrency wallets in use worldwide.
(Polaris Market Research)
2. Number of Crypto Users Surpassed 420 Million in 2023
Cryptocurrencies are gaining wider recognition as a lucrative investment vehicle and payment option.
Institutional investors are increasingly putting funds to cryptocurrencies, while merchants are expanding their acceptance of crypto payments.
This growing acceptance is driving more individuals to adopt cryptocurrency wallets today.
As cryptocurrency adoption continues to surge, the user base is on track to surpass 420 million by the end of 2023.
3. Over 150 Million People Use Binance, Making It the Most Widely Used Cryptocurrency Wallet.
Binance is the most widely used cryptocurrency wallet, with over 150 million users worldwide.
It offers a wide variety of features like its spot trading, margin trading, and staking that attract retail investors to use the platform.
Aside from that, Binance’s platform is easy to use, deeming it as the best choice for beginners.
Analysts noted that Binance is well-positioned to maintain its position as the leading cryptocurrency wallet, currently commanding 43.9% of the market.
Its close competitors include Upbit, HTX, and Coinbase, which respectively captured 11.5%, 7.8%, and 6.8% of the market.
4. As Of July 2023, Over 26,000 Cryptocurrencies Are in Circulation
As of July 2023, the cryptocurrency landscape has expanded to encompass a staggering 26,000 cryptocurrencies, each with its own unique characteristics, purpose, and potential.
The continuous advancement of blockchain technology has enabled the development of new and innovative cryptocurrencies.
Aside from that, cryptocurrencies have become increasingly accessible to a wider audience, with the availability of user-friendly wallets, exchanges, and trading platforms.
As of this writing, Bitcoin remains the leader in the market, with a market capitalization of $710 billion.
Ethereum follows with $234 billion and commands the smart contracts market.
5. 10% of The World’s Population Now Holding Crypto Assets
Cryptocurrency ownership has reached a global milestone, with 10% of the world’s population now holding crypto assets.
The widespread adoption of cryptocurrency is a significant milestone in the evolution of digital finance.
It represents a growing acceptance of decentralized currencies and a shift away from traditional fiat currencies controlled by central banks.
In terms of crypto ownership, 7.23% of India’s billion citizens hold crypto, while the percentage is 9.32% in Thailand.
Ownership in Africa is also high, coming at 10.34% in Nigeria and 10.71% in Kenya.
6. The Blockchain Technology’s Market Value Is Expected to Reach a Staggering $39.7 Billion by 2025
The projected market value for blockchain technology is $39.7 billion by 2025 and $67.4 billion in 2026.
Its transformative potential and its ability to revolutionize different industries and usher in a new era of innovation.
With this, the industry is expected to be valued $1.4 trillion by 2030, representing a compounding annual growth rate (CAGR) of 85.9% in a seven-year period leading to 2030.
The growth of the blockchain technology industry is significant as it helps in creating new jobs, businesses, and investment opportunities, contributing to economic growth and innovation.
It is expected to boost global GDP by $1.76 trillion in 2030.
7. Bitcoin Reigns Supreme as The Most Valuable Cryptocurrency in The Market
Bitcoin is the most valuable cryptocurrency in the market, with a current price of $35,900 per coin.
This means that one Bitcoin is worth more than any other cryptocurrency, including Ethereum, Tether, and BNB.
Bitcoin’s high value is due to a number of factors, including its first-mover advantage, its large and active user base, and its limited supply.
It is the first internationally-recognized cryptocurrency, having been founded by a certain ‘Satoshi Nakamoto’ in 2009.
As a result, Bitcoin has a large and active user base, which makes it more liquid and less volatile than other cryptocurrencies.
Aside from that, Bitcoin’s dominance in the cryptocurrency landscape is unwavering, evidenced by the number of global Bitcoin owners which is 219 million people.
8. Bitcoin Processes an Average of 200,000 Transactions Daily
With an average of 200,000 transactions processed daily, Bitcoin is also the leading cryptocurrency in terms of transaction volume.
Among all the cryptocurrencies available, Bitcoin is by far the most widely accepted by merchants globally, making it a convenient and accessible payment option for consumers.
9. Over Two-Thirds of Bitcoin Transactions Involved the US Dollar
Many of the largest and most popular Bitcoin exchanges are based in the United States, such as Coinbase, Kraken, and Gemini.
These exchanges naturally gravitate towards using US dollars as their primary trading currency, further solidifying the dollar’s position in Bitcoin transactions.
This is one of the reasons why about 73% of Bitcoin transactions were traded for US dollars.
In fact, two of the biggest crypto stablecoins USDT and USDC are US dollar denominated.
The US dollar remains the most widely traded currency in the world, accounting for over 60% of global forex transactions.
This dominance suggests that there are more US dollar pairs available for Bitcoin trading, making it easier and more efficient to buy and sell Bitcoin with US dollars.
10. The United States Has a Substantial Crypto User Base of 45 Million Individuals
The United States has emerged as one of the global leaders in cryptocurrency adoption, with an estimated 45 million individuals owning or using cryptocurrencies.
On the other hand, the US Securities and Exchange Commission is increasingly becoming involved in the digital asset space in its pursuit to regulate the assets following the unexpected collapse of FTX in 2022.
In June, the SEC filed lawsuits against Binance and Coinbase over claims of offering unregistered securities, among others.
The United States is at the forefront of the cryptocurrency revolution, with a remarkable 16% of its population actively participating in some sort of cryptocurrency activities like buying, trading, and investing.
11. Men Make up Over 85% of Bitcoin Traders
Traditionally, men have been more involved in financial activities and investments compared to women over the course of history.
This still holds true, despite the growing calls for gender equality in the finance field, as shown in the data that three-fourths of Bitcoin traders are men.
Aside from that, this gender imbalance among Bitcoin traders can be a result of BTC’s marketing strategies which is seen to speak to male audiences in the majority of cases.
The increasing adoption of cryptocurrency has ignited a surge in demand for secure and user-friendly wallets, triggering an increase in the number of crypto wallets worldwide.
How many crypto wallets are there in the market? Over 84 million crypto wallets stand ready to serve individuals worldwide.
As the cryptocurrency market continues to mature and expand, the demand for crypto wallets is expected to grow even further.