How Many People Use Cryptocurrency in 2022? (Usage Stats)

Last Updated: September 11, 2022
Let’s talk about how many people use cryptocurrency and some data about this digital money.
How Many People Use Cryptocurrency
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Quick Answer 🔍

How many people use cryptocurrency in 2022?

It’s estimated that 1 billion people worldwide own cryptocurrency or use crypto exchanges.

How many people use cryptocurrency in 2022?

Based on blockchain tech, which acts as a distributed ledger, cryptocurrencies are built on decentralized networks that are enforced by an unbiased computer network.

The most distinct thing about cryptocurrencies is that they are not regulated or issued by a central governing authority. 

This is what makes cryptocurrencies, in theory, immune to any government manipulation or interference. 

That said, let’s talk cryptocurrency usage statistics in 2022 and some data about this digital money.

How Many People Use Cryptocurrency in 2022? 

It’s estimated that 1 billion people worldwide own cryptocurrency or use crypto exchanges.

That said, it’s difficult to pinpoint an exact number of crypto users since users can be on an exchange or have multiple wallets.

It’s common for cryptocurrency traders to have one exchange or wallet for holding digital assets and one for trading. 

There are about 380 cryptocurrency exchanges where people buy, sell, withdraw, deposit, and trade their digital coins. 

How Many Cryptocurrencies Are There in 2022?

Best Crypto Portfolio Tracker Apps and Tools

New cryptocurrencies tend to come into existence every now and then, but as of this writing, there are more than 20,000 variations of digital currencies.

Cryptocurrencies also come and go from the market. Some last for years, but some fade away within months.

20,000 is a large boost in crypto coins over 2013 where there were just a few available.

It’s predicted that digital currency will become a huge deal, which is why there are millions of people buying, selling, and trading crypto assets. 

How Many Cryptocurrency Exchanges Are There?

There are around 380 cryptocurrency exchanges online as of this writing.

What is a cryptocurrency exchange?

The simple answer is that a cryptocurrency exchange is a platform for buying, selling, and trading digital assets. 

For instance, you can buy Bitcoin, Ethereum, Litecoin, or other crypto coins using conventional currency like USD (US dollar). 

Exchanges allow for fiat currency deposits and withdrawals into your bank account.

Exchanges show the current market prices and the type of cryptocurrencies supported by the exchange. 

In crypto exchange terms, there are makers and takers on the exchanges, which translates into buyers and sellers. 

Therefore, cryptocurrency exchanges play the role of a brokerage in the digital asset market. 

What Are Crypto Coins, Assets, and Tokens? 

Just when you think you have a handle on crypto terms and how this market works, more digital assets are created on the secure blockchain.

Let’s break down the idea of coins, assets, and tokens.

Many terms in the realm are interchangeable, making the lingo difficult for newbies. Here is a brief overview of the three categories of cryptocurrencies.

Cryptocurrency

Cryptocurrency is the native asset affiliated with blockchains. For example, Bitcoin, BTC, is native crypto of the Bitcoin blockchain.

Likewise, Ether, ETH, is native to the Ethereum blockchain. You will also see cryptocurrency referred to as crypto assets or coins. 

Crypto Tokens

Crypto tokens are not affiliated with their own blockchain because they are running over an existing one.

For instance, Ethereum, the world’s most popular blockchain, is where other crypto tokens are created.

A good example is that NFTs are built via the Ethereum blockchain.

Crypto Assets or Digital Assets

These are the overarching terms for all unique virtual assets that have come out of the blockchain.

Cryptocurrencies and crypto tokens fall under digital or crypto assets. 

How Did Cryptocurrency Get Started?

The first time cryptocurrency was mentioned was in the 1980s. David Chaum, American cryptographer, invented digital cash that is dependent upon cryptography for the verification of secure transactions. 

It wasn’t until the 1990s that the software and cryptographic protocols began development so that the concept of a decentralized digital asset, currency, could become a reality. 

Satoshi Nakamoto wrote a paper that was published in October 2008 about Bitcoin.

It was called Bitcoin: A Peer-to-Peer Electronic Cash System, which outlined the idea of digital currency that didn’t rely on any kind of third party to validate it.

This paper essentially started the crypto revolution as we see it today.

By 2009, Bitcoin was born and became a global payment system in the digital asset realm.

Satoshi Nakamoto, the same person who wrote the paper about Bitcoin, created this cryptocurrency. It was launched as an open-source software.

It’s now been nearly 13 years since cryptocurrency’s inception, but oh, how it has grown into a real and useful digital asset realm.

How Many Crypto Billionaires Are There?

Billionaire Statistics

Cryptocurrency has created some wealthy people. Here are the top five richest cryptocurrency users on the planet. 

1. Sam Bankman-Fried has a net worth of $22.5 billion.

2. Brian Armstrong, co-founder of Coinbase has a net worth of $11.5 billion.

3. Chris Larsen, chairman and co-founder of Ripple, is worth $6 billion.

4 and 5. Cameron and Tyler Winklevoss, founders of the Gemini cryptocurrency exchange are worth $4.3 billion.

Also among crypto billionaires are Fred Ehrsam, co-founder of Coinbase, and Jed McCaleb, co-founder of Stellar and Ripple.

These people have their hands in the crypto market, and have been part of its evolution.

There are also lots or traders that have also made hundreds of thousands to millions trading crypto assets. 

Conclusion

There are 306 million people with crypto assets all over the world. 

We also discussed that digital currency has created several billionaires, and even more millionaires and thousandaires. 

There are advantages and disadvantages of owning cryptocurrency just like any other financial market.

The crypto market is known to be volatile and almost constantly in flux. 

Traders in this market are using crypto bots to help manage their trades with the top strategies to mitigate risk. Some are winning big, while others are losing assets. 

One thing anyone who is considering investing and trading in cryptocurrencies should know is that there is a learning curve.

Now you know how many people use cryptocurrency in 2022 and some basics about crypto and exchanges.

Sources

CNBCInvestopediaThe Guardian
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Written by Jason Wise

Hi! I’m Jason. I tend to gravitate towards business and technology topics, with a deep interest in social media, privacy and crypto. I enjoy testing and reviewing products, so you’ll see a lot of that from me here on EarthWeb.