Cryptocurrency Adoption: How Many People are Onboard?
In November 2019, the most popular cryptocurrency wallet, Blockchain wallet, has created over 42 million wallets for its users worldwide. If every wallet created was from one unique user, 0.52% of the global has a wallet with blockchain.com – indicating that cryptocurrency adoption is growing rapidly.
It is, however, difficult to know how many crypto users there are due to the fact that you can create more than one wallet. It is also important to consider there are over 2000 cryptocurrencies with hundreds of different wallets.
Bitcoin trading statistics from peer-to-peer exchange LocalBitcoins.com suggest that Bitcoin adoption rates are predominantly on the rise in economically troubled South American states such as Venezuela, Brazil, and Colombia, and as well as in nations across Africa. Hong Kong is also seeing an immense rise in crypto trading, and so is South Africa and Zimbabwe.
In comparison to where the Internet was in 1994, cryptocurrency seems to be at the same level of infancy. Bitcoin has garnered a considerable amount of media attention, yet less than 1% of the world owns any for themselves.
What do people think about the adoption of cryptocurrency?
- 80% of Americans are aware of at least one type of cryptocurrency, and 36% of Americans said they believe cryptocurrency will become widely accepted as a payment method in the next 10 years.
- 40% of Americans said they plan on investing in Bitcoin as an asset for the future.
- It is estimated that less than 0.5% of New Zealand owns cryptocurrency.
Banking the Unbanked
In 2019, there were 2 billion adults in the world who don’t have their own bank account. This either means these individuals are already dealing in total digital payments, they only have access to cash, or that they have no money at all. In America alone, there were 20 million adults without a bank account.
Cryptocurrency has the ability to place the entire world on a level playing field, to enable the masses to interact seamlessly, both for the benefit of the individual and the global machine. Nobody has to be left out, and you can create as many wallets as you want.
Cryptocurrency wallet applications can be easily downloaded from both Google Play and Apple’s App Store, and now even the upcoming Samsung 10 smartphone will feature its own inbuilt cryptocurrency wallet too.
Anyone on the planet that has an internet connection and a basic smartphone can join a mutual global payment network, without having to ask for permission, have legal identification or even any money in the first place.
There are an estimated 3.5 billion internet users in 2019, and this number is expected to significantly increase in the future. This will be partly due to Facebook’s mission to bring internet connectivity to the entire world – who are also creating their own cryptocurrency.
Industries expected to be highly impacted by cryptocurrency and blockchain include banking, healthcare, politics, real estate, the legal industry, security, government, rentals and ride-sharing, charities and aid organisations, as well as the augmented/virtual/mixed reality industry among others.
If you are still wanting to learn more about this profound technology, click here for a basic breakdown on how to use it for yourself.
To become an early adopter, sign up with Easy Crypto here, and in a few minutes you will have created an account and a crypto wallet, and purchased some cryptocurrency for your own, all at the best rates in New Zealand.