The first decentralized cryptocurrency is Bitcoin and it came into existence in 2009. But ever since then, the coin has been experiencing massive growth.
Businesses around the world recognized the digital coin as a means of exchange and as such, the success it achieved in the cryptocurrency world has exposed some of the flaws in the traditional banking system.
Statistically, between 2012 to 2020, the cryptocurrency industry has gained 193,639.36% of the attention of people and as of February 21st, 2021, Bitcoin alone had a market capitalization estimated to be around $1072.21.
That is to say, the user index in the crypto realm as of 2021 shows that people have 97% trust and confidence in cryptocurrencies.
What’s more, in the first quarter of 2021, the global daily cryptocurrency transactions witnessed a massive increase and thereby leaving behind 367,536 — as the highest number of Bitcoin transactions.
Judging from this pump, the global blockchain market has been forecast to rise to $23.3 billion by 2023 and $1087.7 million by 2026 in terms of the market price.
Looking at the popularity and the raving reviews about cryptocurrencies, we have deemed it fit to bring to your attention some of the crucial cryptocurrency statistics all in an attempt to satisfy your curiosity and quenching your thirst for knowledge in the cryptocurrency market.
What is Cryptocurrency
The term cryptocurrency derived its name from an encryption technique used for securing the network. It belongs to the class of digital asset-based used on a specific network that is distributed over a voluminous number of computers.
- Cryptocurrency is a virtual or digital currency secured by cryptography, which fortified and makes it impossible to double-spend or counterfeit.
- Most of the cryptocurrencies out there are decentralized networks structure that is based on blockchain technology. This decentralized network allows them to freely exist outside the control or watch of the government.
- Cryptocurrencies are generally not under the control of any government nor are they issued out by any central authority, this defining feature renders them theoretically and physically immune to government manipulation or interference.
Cryptocurrencies face a lot of criticism for several reasons, and this includes their:
- Exchange rate,
- use for illegitimate activities, and
- Vulnerabilities of the network-based infrastructure.
Still with these, they have also been commended for their:
- Inflation resistance,
- Divisibility, and
Essentially, the first cryptocurrency blockchain-based in existence was Bitcoin, and it still maintains its position as the most celebrated, most popular as well as most valuable.
So as of today, there are plethora numbers of alternate cryptocurrencies with different functions, uses, and specifications.
While some of these alternate cryptos are new currencies built from the scratch, others are nothing other than the forks or clones of Bitcoin.
Accordingly, research shows that Bitcoin was launched initially in 2009 by a group known as “Satoshi Nakamoto.”
In the middle of March 2021, it was disclosed that there were over 18 million worth of bitcoins in circulation and the total market cap was estimated to be $927 billion.
However, some of the contending cryptocurrencies known as altcoins” that were spawned by the success of Bitcoins include Litecoin, Namecoin, and Peercoin, as well as Ethereum, EOS, and Cardano.
Today, statistic shows that all the available cryptocurrencies in existence are worth $1.5 trillion on aggregate and Bitcoin alone represents over 60% of the whole value.
Cryptocurrency User Statistics
Cryptocurrency users base has increased by 190% in 2020
The user base of all the listed cryptocurrencies on the global level has increased by 190% between early 2018 to late 2020, such information was coined from the various crypto wallets and trading platforms.
Users account and new crypto wallet have increased by 37% in 2020
The sudden increase in the demographic charts had been predicted to have been caused by the improvements in identification as well as rise in the number of users account which going by the source, has increased by 37%.
Since users account or wallet are systematically linked to every dealer (buyer/seller) individuals identity, it is easier to determine the minimum numbers of users associated with wallets or accounts on every service provider.
The cryptocurrency space size had been forecast to increase by 11.2% CAGR by 2027
That being said, as of 2019, the global cryptocurrency industry size stood at $754 million and it has been projected to reach $1,758 million by the end of 2027, thereby demonstrating 11.2% of CAGR during the forecast stage.
The below table is therefore the number of identities and verified crypto-asset users around the globe from 2016 down to the first quarter of 2021(in millions).
|Years||No. Of Crypto Users in millions|
Cryptocurrency Statistics by Country
The adoption of Cryptocurrency as a means of exchange around the world is growing incessantly and there are over 18,000 business enterprises that are currently accepting cryptocurrency as their payment method.
The ownership rate of global crypto in the Q1 of 2021 is 2.8%
As of the first quarter of 2021, the global cryptocurrency ownership rate was estimated to be 2.8% on average, with over 200 million users worldwide.
And this brings us to the fact that the cryptocurrency statistics by country differ as some countries have placed heavy regulations on any incoming, outgoing, as well as internal cryptocurrency transactions. A perfect example is Nigeria.
This attempt and decision made by the Government of Nigeria and some other countries were in a bid to prevent cryptocurrency as the means of embezzling the public fund or a haven for encouraging fraud.
However, countries like Turkey are lenient on Crypto and they even encourage its trading and mining activities.
79% of cryptocurrency users in the United Kingdom invested in Bitcoin
Be that as it may, 79% of cryptocurrency users or owners in the United Kingdom have invested heavily in Bitcoin.
And in early 2021, the magnificent Central Bank of China move to support the plan for a digital currency 100%, after all the aim is to dominate the ever-growing US dollar.
Other countries like Switzerland, Sweden, Norway, and Cambodia also plan to do the same.
The United States alone sold 48% of tokens in 2020 and Nigeria has 32% of users on a global average
The United States has 48% of tokens sold in 2020, and it is the highest number ever and Nigeria was the leading nation for cryptocurrency usage or ownership in the world with 32% users on average in 2020 as well.
Vietnam is ranked second with 21%, followed by the Philippines with 20% in this category.
However, as of the time of filing this report, below are the top 5 countries with the highest cryptocurrency statistics in 2021.
|Top countries||Cryptocurrency usage statistics|
|United Kingdom||3.3 million|
Cryptocurrency Trading Statistics
It has not always been a free ride for Bitcoin and all other virtual assets, however big names cryptocurrencies like Bitcoin, Ethereum, Tether, Ripple, Ethereum cash and the likes have grown exponentially over the last few months.
Thus, you might have to consider the following statistics to further understand the trend.
But before then, it’s important to state that the cryptocurrency confidence as of January 2021 is 100%. Both the retail and institutional interest in Bitcoin and Etherium by investors rose in the fourth quarter of 2020 dramatically.
People now have faith and confidence in cryptocurrency in 2021
In a survey of more than 60,000 users conducted worldwide, 97% of the respondent confessed their faith and trust in the digital assets, and over half of them considered investing in it as their main source of income.
There were only 10 sets of digital assets in the cryptocurrency nascent stage and they made up 88% of the entire crypto market
The first set of cryptocurrencies were ten and they have the highest market cap and thereby making up to 88% of the entire cryptocurrency market value. These virtual assets include Bitcoin, Ethereum, Tether, Ripple, Bitcoin Cash, Bitcoin SV, Binance Coin, Litecoin, EOS, and Tezos.
Over 900 new cryptocurrencies surface daily.
The number and market value of cryptocurrencies increase every 10 minutes. Miners are always on the watch to excavate new blocks and on an average 144 per day, and each ejecting 6.25 worth of coins into circulation.
If you do the math correctly, that will give 900 cryptocurrencies daily.
Bitcoin witnessed 66% price growth between January 2021 the late February same year.
According to the crypto stats, In January 2021, Bitcoin’s digital asset rate was $30,000 but in February, it surprisingly went up by $20,000 thereby having a price growth of 66%.
Even more impressive, the coin only worth $10,000 in 2020 and as such, it’s safer to say the coin increased in value by 400% in the first quarter of 2021.
Tether was the biggest cryptocurrency assess in February 2021
In the same vein, the biggest cryptocurrency asset as of late February 2021 was Tether, having the sum of $109 billion in volume within 24-hour.
The owning company never denied these claims but instead revealed that their dollar endorsement worth 74%. Ever since then, the coin is being served in various markets.
Ethereum was Bitcoin biggest competitor in the fourth quarter of 2020 with over 1 million daily transactions
In addition, according to statista.com, Ethereum digital asset got 1 million or thereabouts daily transactions in 2020, making it Bitcoins top and biggest competitor.
The coin had the highest number of daily transactions during the fourth quarter of 2020 where Bitcoin daily transactions show that it received around 330K (an amount lower than Ethereum in four folds).
Etherium lead other the digital assets with 1.2 million transactions in February 2021
In the Cryptocurrency statistics for 2021, it was maintained that Etherium was at the helm of the digital assets with 1.2 million transactions in February 2021, and Bitcoin only has to manage at least 272K.
Bitcoin overthrown Ethereum towards the end of February 2021 with over $50,000,000
Towards the end of February, Bitcoin raked in about $56 billion, Tether almost did double with $108.77 billion.
Hence, on the Crypto statistics for 2021, Tether and Bitcoin were ranked first and second, respectively while Ethereum clocked the third position with $24.51 billion.
Bitcoin recorded daily transactions of figures higher than 2018, 2019, and 2020 volume
Similarly, Statista.com recorded that the Bitcoin daily transactions nearly reached 400,000 scores in Quarter 1 of 2021.
Hence, its user’s growth has done more than to propel it to witnessed several transactions per day than ever before.
That is to say, its entries in January 2021 were voluminous compared to what was obtainable in January 2018, leaving behind 78,722 transactions daily.
There were 14,915 Bitcoin Automated Teller Machines in 2021
Be that as it may, the cryptos trading statistics show that the available Bitcoin Automated Teller Machines (Bitcoin ATMs) in existence as of January 2021 was estimated to be 14,915.
910 new Basic and Complex Bitcoin ATMs were produced in 2021
In the same vein, the number of basic and complex crypto ATMs was also estimated to be 14,000 or thereabouts.
But as the digital assets market progresses, there were over 910 new machines as of February 2021 to aid the smooth sailing of crypto mining and trading.
However, you must bear in mind that the first quarter of 2021 was the period when most countries of the world economies were emerging from the burnt and ashes of the novel Covid 19 pandemic.
Therefore, cryptocurrency trading performance was full of admiration considering the circumstances. People are, more than ever, now showing their interest in Bitcoin and it’s — without a doubt — gaining more friction compared to any other cryptocurrencies.
Cryptocurrency Crime Statistics
In the last two years, cryptocurrency crimes revolve around massive exit scams all in a bid to lure crypto holders to sell their virtual assets unripe.
There was a Ponzi scheme known as PlusToken in 2019
In 2019, there was a Ponzi scheme in the crypto industry known as PlusToken. This coin netted the sum of $2.9 billion — that is 64% of 2019 major crime volume — as its exit scam.
There was 58% significant crime volume in 2020
Lo and behold! 2020 also saw WoToken (another similar scheme owned and operated by the same individual as PlusToken) defraud investors in part of the $1.1 billion ruled as its exit scam — and that is 58% of the year’s significant crime volume.
The hacks, thefts, and digital assets fraud in 2019 is 160% higher than in 2020
While the last two years saw a frequent and similar number of hacks, thefts, and fraud, the average digital assets value that was illegitimately taken by the criminal actors in 2019 alone was 160% higher in volume compared to 2020.
This shows that there has been some level of maturity in the crypto world as individuals and organizations continue to harden their systems and take precautionary measures against all forms of inside as well as outside threats.
KuCoin was hacked in 2020 and over $281,000,000 was siphoned
Importantly, these cryptocurrency crime statistics wouldn’t be completed without mentioning the 2020 crack that did see a huge sum of $281 million cryptocurrency exchange KuCoin hacked.
Although the exchange has proclaimed to have recovered up 84% of the illegally obtained funds. Such a situation is almost unheard of in the crypto space before.
By and large, the value of cryptocurrency crime and theft around the world from 2016 down to 2020 are depicted in the table below.
|Year||Value in Million (US Dollars)|
Cryptocurrency Money Laundering Statistics
The introduction of various digital assets has enhanced people with criminal minds the safer and faster options to cleansing their ill-gotten wealth.
And there is no point denying the fact that cryptocurrencies are useful technology and important innovation that helps entities access products and financial services cost-effectively.
Cryptocurrency crime is more akin to white-collar crime
Unfortunately, their rise as digital assets and existence as an alternative value for investment and transfer tools raises and supports money laundering subconsciously.
On a more serious note, crypto crime is now akin to white-collar crime and it even functions more similarly.
Upon the hearing of white-collar crime, the first thing to come to mind is a small regiment of executives acting on privileged knowledge or abusing their position to enrich themselves.
So whether it is elite hackers cracking into exchanges or well bounded criminal groups swindling millions of people in immodest Ponzi schemes, you will come to realize one fact that the majority of the cryptocurrency gained through these criminal activities all lead to an insignificant but powerful cadre of criminals.
Over $2 trillion are being laundered yearly across the globe via crypto space
According to research, it was revealed that the United Nations findings on cryptocurrency money laundering statistics were jaw-dropping as it was recorded that on yearly basis, between the range of $800 billion and $2 trillion US dollars are being laundered across the globe.
This represents 2-5% of the world gross domestic product. And out of this fund, more than 90% of them go undetected.
As it stands, no serious or ever-challenging competitor is ready to fiat cryptocurrency in terms of the laundering volume, and its usage is ever-increasing.
Thus, digital coin’s unregulated or less regulated nature in some jurisdictions denote that the financial space has many issues to worry about.
There is uncertainty as to the actual figure of money being laundered daily through digital assets
Realistically, the total and exact volume of cryptocurrencies money laundered, laundry or to be laundered are yet and cannot be ascertained.
However, some indicative statistics are flowing around on the Internet about crypto money laundering statistics.
One report opined that the crypto frauds, thefts, and hacks in the second quarter of 2020 totaled $1.36 billion compared to the $4.5 billion siphoned in 2019.
Over $3.8 billion was spent on the cryptocurrency dark web in 2018 and 2019
Also, another report claimed that criminals laundered around $2.8 billion via the means of cryptocurrency exchanges in 2019, and $1 billion in 2018.
In 2019, the total worth of bitcoin spent on the black market (dark web) was $829 million, which represents 0.5% of all the successful bitcoin transactions in that year.
56% of cryptocurrency exchanges have week KYC
What’s more, a separate study also analyzed 800 different market maker exchanges and concluded that 56% of all the available crypto exchanges around the world have feeble KYC identification protocols, stressing that exchanges in the US, Europe, and the UK are even the worst offenders.
At this juncture, you must have understood that cryptocurrencies are generally not under the control of any government nor are they issued out by any central authority, this defining feature renders them immune to government manipulation or interference.
Yet, such defining features are responsible for the surge in cryptocurrency money laundering of $2.8 billion in 2019 and the significant 58% crime volume in 2020.