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More than 40 million cryptocurrency wallets have been created, as of mid-2019, according to market data provider Statista. The report from Statista revealed that there were only around 8 million digital asset wallets in 2016.

The latest numbers from Statista’s report are quite staggering when you consider they’re based on the growth of a single crypto wallet provider, Blockchain.com.

The London-based wallet provider offers one of the most widely-used wallet clients which includes support for Bitcoin (BTC), Ether (ETH), Stellar (XLM), Paxos Standard Token (PAX), and Bitcoin Cash (BCH).

Full article (https://ethereumworldnews.com/the-number-of-cryptocurrency-wallets-has-been-increasing-exponentially-statista-report/)

On topic reply about those increasing numbers,yeah its good to look at but doesnt mean those are real users considering that multiple wallets can be created by a single person.

Next one which this post is just simply a side advertisement of https://www.coin.space/ ? lol

Yeah the article pointed out that as well and these numbers cannot represent the total number of users in the industry, considering the fact that anyone can own multiple wallets and create multiple accounts this cannot simply translate into the demand or growth in the industry. What's more interesting to see is to actually see the use of cryptocurrencies in our everyday lives this is where the point that we will see cryptocurrencies in general are growing in our world. The volume of wallets created cannot show any important things about growth, it simply just a number of wallets we don't even know what number of them are active or not.

Those statistics are astounding indeed. 5X more wallets in 3 years and let's be serious...most of the crypto users are not using web based wallets like the one blockchain.info provides. Most of the wallets are software wallets like Electrum, Armory, Bitpay, etc. Of course that web wallets are more convenient and maybe people who are not concerned about their security and feel safe to trust a third party with their funds would use them, but still.. I strongly believe that the vast majority of crypto wallets are not web-hosted.

From 8 milions in 2016 to 40 milions this year is not really a big change at least not what most crypto enthusiasts expect (taking in consideration the 2017 bull run).
Moreover, I think it is a bad indicator. After all these years and people are still using web wallets!
It would be Interesting to see how many users use hardware wallet and how many use desktop wallets.

A better indicator would be mobile wallets. This is the major factor to consider instead of some random browser numbers that can be created by bot scripts.

Good article but I doubt they gather all the data regarding this subject. Anyway , its good to see that more and more people are coming into crypto space as this mean the adoption is working and slowly rising. We must also take in consideration that there are a lot of multiple wallets of the same user but still the number is quite big vs 2017 or other years so I'm expecting a double in numbers in 2020 in creating of wallets and the numbers will increase from year to year. Adoption works , I'm happy!

Oh wow meaning crypto currency continue to become interesting and devs and investor knows they a positive thinking creating new wallet is profitable as business, but becarefull do not before.




Yeah sir is very obvious op simply to advertisement posting into the link he share, an interesting if 40m wallet are all exist in the market and patronage by the users or holders.

Not sure this data really means anything.  I can't even begin to tell you how many wallets I've downloaded since getting into crypto, but it has to be a few dozen with all the bitcoin and altcoin ones I've tried out for both my PC and smartphone.  It isn't as if the 40 million figure represents individual downloaders of wallets.

That's true, though all the numbers can be skewed in some way, plus it's questionable as to what the significance is with them anyway.

This is only 40 million wallets based on a single service, correct? Are the statistics per person, or can someone have a Bitcoin, Ethereum and Stellar wallet and it would be counted as a 3 different wallets?

Interesting statistics, I'm taking it with a grain of salt though, I don't think it actually reflects 40 million new crypto users, probably something more like 20 million - still huge though, especially since it's not even the biggest mainstream wallet provider (Coinbase probably is).

They have a blockchain app, don't they? Are stats for how many downloads on that specific wallet available? From checking the wallet stats on google play, it only looks like it has 5 million + downloads.  :o

There is no argument or doubt that there are more people in the market than what it was three years back and there will be more investors coming into the market every year but the problem here is that you cannot evaluate things just by looking at the amount of wallets created, coinbase can release the amount of registered users but some company released the data about the number of wallets created .

Some companies will be using their API and you can create as many wallets as you want and it is free so that does not make any sense to evaluate things because of the wallets created.

Yes there is a tendency that other wallets are made by the same person but that number is still large compared to 8 million then. Because just like before they can create multiple bitcoin addresses, and why not? Bitcoin wallets would have been huge by then if people had made many wallets. And I think the number of crypto currecy users has increased dramatically since the bull run of 2017 to date.

But there's no correlation if those 40 million new wallets are own but just one person or 40 million. So I don't think it is a good indication of the supposedly mass adoption, isn't it? So it doesn't mean anything at all, individuals can make many wallets every day and most likely those wallet are not going to be used anyways.

As I understand, this article talks only about wallets created on Blockchain.com, right? And total number of wallets is pretty much meaningless stats. 40 millions is big number, but it doesn't say anything. I have no idea how many Bitcoin addresses I have generated in 2019, but it's not small number. Some people prefer to generate new address for each transaction. And we are speaking just about single service - it doesn't give general view about increasing number of crypto users, it only shows that Blockchain.com grow up significantly since 2016.

Even though they could be multiple wallet of single person, made specifically to claim that stellar airdrop, we could still see there's a large growth of people knowing and using bitcoins.
Personally I have helped a dozen of people about bitcoins and altcoins. I now have a larger local circle of friends who trade and deals in bitcoins. Most of them are still suspicious about its future but they are using it in one form or other.

I am very surprised to know that more than 40 million cryptocurrecy wallets have been created until 2019. The 40 million figure is
a very large number considering that before in 2016 there were only 8 million digital assets wallets. But this does not signify a
significant addition of users, considering that someone can make a lot of wallets. Even so, this is a separate achievement for wallet
provider blockchain.com because of its very significant development. But even though it is not pure users who have increased by
40 million but at least the minimum user has increased by around 30% of 40 million wallets have been created. That is also not a
small amount that has increased by around 30%, I estimate, with this I'm more optimistic that cryptocurrency is more and more using.
And can easily influence the price of cryptocurrency so can keep going up too.

Good to hear but not that surprising. Holders of bitcoin are most likely having multiple wallets to further manage their holdings. And having said that it's 3 years before, which is 2016, the 2017 bull run is the greatest factor to the sudden increase in bitcoin wallets. People are just FOMO and straight out want to buy Bitcoin at that time. However, after that, I don't think there's much new wallets generated. Still a nice news to hear though.

well , see this words :
"Blockchain.com has registered a five-fold increase in its wallet users in just the past three years.

As of September 25, 2019, the company’s user count has reached more than 42 million."

42 million,just from 1 company, firstly , i think is a huge prestation. but , wait , since they have a XLM giveaway on this year , i guess its will be a normal thing.
so i just think an increase in the number of wallets created,its doesn't mean people like to crypto have incrased too. since that can be cheating , i mean that giveaway.

This is an interesting data, but the number of wallet that have been created doesn't necessarily represent the number of users since a single person can have or create multiple numbers of wallet. But still this is a huge increase of numbers of wallet that has been created in just a year, it still show a significant increase of the number of people who are involved in crypto.

Even if people will create duplicate wallets, 40 million is too big to consider not a huge market adoption. We can see that from 8Million and jumps up to 40Million shows an exponential growth of wallet creators, meaning to say, there's an emerging number of people who are entrusting their financial transaction to cryptocurrency. Lastly, individuals will not create wallets everyday since they haven't have any reason to do it.

It's pretty obvious that around 2017 alone, I'm sure a lot of newbies started to find bitcoin or crypto in general that's why the statistics shoots up up to mid-year 2019.

But does the data offer has significance? I don't think so, it's just another numbers in the growing fields of data analysis in this ecosystem, how many wallets owe at least 1 BTC, 10 BTC or 100 BTC?

Indeed we cannot tell the hundred percent accuracy of the statistic since a single person can create multiple account. But what I'm sure is that it really increases. Because among those addresses for 2019 statistics, for sure there are new people. Not only the second or third wallets of a certain person.

We cannot yet say it is a mass adoption but it's slowly going to that path.

Crypto is increasingly known by many people so it is natural to have fast growth, but in my opinion the number does not represent the number of users, I am sure that everyone who likes crypto has more than one wallet.

Though there are certain cryptocurrency holders who uses multiple wallets but it does not account the total number of wallets that has been increased. There are still new users who uses that wallet. Though we cannot account how much has the community have increased using the wallets but given the facts it is still a good news that there is an increase in the community. Though we cannot give the exact number but the rise in the number of wallets is already a big thing to the community.

But at the same time, the number of people who have heard about cryptocurrencies is constantly growing. For example, in the USA, about 50% of the people known about cryptocurrencies according to information from Neironix

that doesn't even make sense!
bitcoin (and by extension altcoin) wallets are open source projects that are run by programmers not companies. if there is a company behind something then it is not a wallet, instead it is a highly risky centralized place which should not be trusted. and as a result they are NEVER "widely-used" at all.

It is good news if there are not multiple accounts belong to the same person mostly. It shows that the number of people who start to use cryptos is increasing very fast. Also, it shows that the popularity of this market is rising quickly too.

40 million is a huge number just for one year. It seems there are many people who give a chance to cryptocurrencies. Definitely it doesn't mean it is 40 million people considering the multiple accounts.

Yes the number of wallet increase for the past few years because of the Bitcoin popularity the crypto manage to attract new people.
But those 40 Million wallets doesn't really mean that it is the number of owner since we could create multiple wallets.
Maybe next time they could also know how many people are using crypto in each country or the percentage of people who are active in crypto on each country.
But this kind of information seems so hard to gather accurately.

We know that everyone can have more than one crypto wallet. The factors vary. I have more than ten wallets because I trade in many exchangers for arbitration. Besides the wallet on the exchanger, I also have a personal crypto wallet like blockchain. and MEW. So, I'm sure everyone has more than one wallet. Especially crypto users who trade daily.

That's the evidence of massive number of cryptocurrency user's all over the world. Though it's not the real number of users. Some of them are using multi account but for sure some  of them are new too. Still good number to me.


Yeah, that's for sure. Because cryptocurrency way back 2017 is too much hype. That's why a lot of pumping is happening. But it leaves a bad marks on cryptocurrency because that year also was the year of scamming ICOs which made a impression to public.

It clearly indicates that major audience is moving towards crypto. Now if we focus on reasons behind it, then we can conclude that Bitcoin initially launched by the 2008 ending and get on board by Jan 2009. Since launching Bitcoin was always in discussion with its specifications, and its price. It takes 10 years to know people about Bitcoin and other altcoins(cryptocurrencies).

Now as in OP mentioned this year by 2019 over 40m crypto wallets created, these are clear indications of global acceptance and existence.

Surely it will still take time to dream comes true, but it will be futuristic currency and World have accepted it.

Nice, that means millions are aware of Cryptocurrency and possibly of its hidden potential. Those wallet numbers will only grow and to think that it's really been 10 long years since the birth of Bitcoin.
  I think crypto has come a long way, too bad proper regulation could take a little while longer, but at least Congress is fully aware, especially since Zuckerberg presented his Libra platform to them, he caused quite a stir, even ruffling of a few feathers.

Those 40 million crypto wallets, how many wallets do we really use and trust? Three? Four? Five? This just means creating millions of wallets doesn't mean they all been used. Majority of them weren't successful and closed down.

I read the article, i think it's some kind of shilling about a particular wallet.  42 million users of a certain wallet gives an optimistic view. But to tell you the truth, the mentioned statistics in the article seems lacking a further information.

8 million wallets now 40 million wallet is a big increase. From 2016 to the mid of 2019 the signing up of wallets have increased five times. This is a big growth for blockchain.com wallet. Though they've added support for bitcoin cash, ethereum, pax and xrp these 40 million wallets weren't created by individuals. In terms of count this is fair, but when we calculate about the users it'll get round off at 20 million users. Even 20 million users is big for crypto market. This is a positive information portraying the growth of cryptocurrency network.

Depends what angle your going at hear, it definelty wasn't 10 years for a lot of the community to hear about bitcoin and other crypto-currencies, I know a lot of people in fact that have actually known about it for years.

I think, after those 10 years people are able to have a fair and unbiased opinion of bitcoin (with some exceptions obviously), and we've already seen how the media used to portray crypto-currencies and this has been a welcome change.

that's a fantastic number, I think it's normal if that happens, considering that digital currency is currently very popular and even sought as material for a living, even in my opinion it could increase again to double it .. !!

I'm glad I've read in that article that the number of wallets will not represent the total and exact amount of users online because there are some misleading articles/post I've seen before about wallets thing and the whole cryptocurrency user population.
True, most of them are using web-based or phone-based wallets because some of them really can't afford to invest on hardware wallets and instead of putting money to buy hardware wallets they just use those funds for investments.

This is not news though. Everyone can create multiple wallets and they they can just leave it forever. Take a look at exchange and third paty wallets, you can see that they have have multiple wallets that isn't even needed. 40m wallets doesn't mean 40m are using Bitcoin right now so I don't find this statistic exciting.

I have created 10 wallets but I don't use them all now.

Next year, that figure will double, I'm sure.

I remember creating different wallets before I start joining airdrop since I always forgot to save those key, Many can download or create wallet anytime but it doesn't mean it will came from one person so it should not be really a basis, even in mobile wallet download can't be a basis as many user have multiple cell phone or email to download it, adoption can be based on ATM or merchants accepting crypto.

A very important figure, which demonstrates the great growth that cryptocurrencies are having, every day more people are being integrated into the different projects, some are recycling accounts, however, that figure can be 100, 1000 or 10,000 times more in the coming years.

I seriously doubt it considering that these people will create another wallet address unless those wallets private keys are being stolen in one of the centralised exchanges. That would alter the creation of new wallet and the number will increase again significantly. Although I am fully aware that a single person can create a multiple wallet if he/she wants to but this doesn't answer the fact of how many people are using cryptocurrency.

It's too much guys..

This is a impressive number but to understand the significance of this information, we would need more detailed and objective information.
I bet that most of those addresses are made by blockchain services, where people just register but for some small bonuss or referrer fee not to use their addresses ever.

Creating wallets is one of the easiest things to do online. For more wallets to be created is just an indicator of how the popularity of cryptocurrencies have grown in recent times. More wallets may not necessarily mean that corresponding people have newly joined the world of cryptocurrencies since a single individual can create more than one wallet.

I wonder if the creation of more wallets was because of wider adoption or because they know that 2019 is the right time to buy crypto currencies as the price is very affordable and they can easily gain more profits once the market will start to be alive again.

I have used blockchain.com but lately I transfer to our local exchange as I can easily convert my funds to my local currencies. It will be best also if it was included in the article if from what country has the most wallets created in mid-2019 so we can see which of the countries are adopting crypto currencies vastly.

Wow, this is an incredible number. However, the number of safe and widely used cryptocurrency wallets is only about 1%. Most of us use web wallets, it is more convenient for transactions and conversions.

It is not good to have a lot of wallet because they wasting they time from creating on it. It is like a disposable project where they try to be success but it's not easily by 40 million kind of wallet?

It will be good if there are some country who do at least once per country who can help to withdraw the money easily.

That's true, not all created wallets are being used for real transactions some are just created for some reason. I do also have many bitcoin wallet because I don't feel the security of having one bitcoin wallet only but this kind of numbers is still impressive with cryptomarket. If those volume are being used and actively participating in the market, it can be a good news and hopefully can affect the price of many coins.

Unfortunately, it is impossible to know the real number of users behind this figure and researchers define crypto users in a different way. Is it only active crypto traders or also hodlers etc.? We have tried to make some reasonable calculation and we think that the total number of crypto users (meaning that these people at some point had something to do cryptos) across the globe is around 65-70mln people, which is almost 1% of the world population.

This is also an interesting read about the crypto penetration rate. They calculate the total number to be around 42mln people, like half a percent of the population>> https://www.chappuishalder.com/wp-content/uploads/2019/06/Publication_Crypto-traders-06-2019.pdf

One thing is clear... it is still a baby industry but there is huge growth potential and it is quite interesting to be at the forefront of innovation.

Dear , Its good news to see but remember these are actually nor all the individual users who have created these accounts but probability is more that single person has created multiple accounts. But even if single person has multiple accounts but according to some survey number of wallet creation in such big number means user of crypto currency is increased quickly in this year and that will be double or triple in coming in time as world is now getting interesting more in crypto currency.

Is this a particular wallet provider or general wallet combined? If this is all wallets by users then the figure will be wrong I know my country would have created more than 2M this year alone because of the massive education of blockchain going on in campuses and media.

It's not all wallet, there are only names of wallet mentioned in the article, however if even half of it were really using it and doing some transactions then it can be consider as a good adoption. If there are more ways to conduct the tally of possible user in the world not just by wallets then it can attract more individuals to be amazed how late they are in this crypto craze which consider more effective than the usual transactions.

It is also surprising that so many wallet forms have been formed, but it can also be concluded that most wallets are made only temporarily to accommodate the tokens that were made, but subsequently are not used anymore. so naturally there will be a lot but what is really needed is only a few.

This is very promising indeed, although I think many are exchange wallets as more and more people are trying to trade with margin to get more Bitcoin and also collect other major altcoins. I see also many of the unbanked coming in and mining coins and converting them slowly to Bitcoin to amass some wealth for themselves and their families. More and more people are learning and being empowered by the Blockchain technology that Bitcoin has unleashed and it will help create many many more wallets in the future coming years a more young people enter this niche market.

That does not really say much, as anyone can create as many wallets as they wish. Most people on this forum probably have more than one wallet, which shows how imprecise such data can be.

2016 crypto currency is just beginning to be recognized around the world,

2017 was the year when it was reported on television, radio and on social media websites.

2017,2018 and 2019 adoption so many new users have contributed to the rise of 40 million wallets recorded by Statista, but as I read the article I found that they only looked at three wallet providers, (correct me if im wrong) and imagined there were only three of the wallets how about the other wallets.

It's a big change and improvement to bitcoin for the past 10 years but we still need to go further to reach our aim which is mass adoption. Yes it is not accurate but this also matters because it shows how big bitcoin changes over time. Even without this statistics, we all know that bitcoin is continuously growing.

Another year will come for bitcoin and let's expect more positive happenings and more wallets to come!

This is awesome, it shows that cryptocurrency users are growing exponentially from all over the world. Seems like more people are now joining the cryptocurrency ecosystem. The best thing was in 2016 there were only 8 million wallets and by mid-2019 that number reaches up to 40 million, wonderful!

The figure looks great, but just count that 40 percent of those wallet are redundant which I know that 1 person may even own more than one wallet, which may be as a result of mistake or loss of a particular wallet they once had, but what I can know is that there are 21 million users of bitcoin and that is what is more of concern to me, which I think it is still very low compared to the number of populations that we have worldwide.

It shows that there are still so many people that are yet to start making use of bitcoin, but if we look at it from the angle of value, bitcoin value has really tried for us to have just 21 million wallets which I would also count as users, and the price has already reached this $9k, and I believe that as adoption rate increases, more wallets will be created.

You are right. What is the meaning of that number if it does not accurately represent the number of users in real? it could be that one person makes many wallets. Although it can be used as an illustration of the increasing interest in cryptocurrency, it is less accurate. Apart from multiple accounts, an increase in the number of users of an exchange that actually applies KYC as a condition for conducting all types of transactions using an exchange can be used as material for analysis. Of course, by limiting the problem to things that cannot be controlled and are confidential.

I do have like 5 wallets that I created and I use like 2 of them only and am talking about the ones I could remember about , I really don't know , sometimes I just try and sign up for a new wallet and it already shows you are already a member please sign in 😂 , so we really cannot make a good use of these numbers ..
If we talk about the investments in those then we would be able to do something with it .
But then again the companies have their own private policies and they are not supposed to disclose that information.

It seems to me that the number of wallets created may not reflect their apparent potential.

In my opinion, it would be more visual to look at the number of wallets for which operations are performed at least once a month or the amount of 0.1 BTC is stored on them.

Probably not, what came to my mind was that; these wallets created from 2019, are they all usable? How many of these wallets are currently in use, I mean potentially and practically in use ?. We have heard of many that where created in the past but where not in used till date. Although, we hope to see more usability wallets be created for the spread of Bitcoin and cryptocurrency across the length and breadth of the world.

what important is that there are people that are curios to know about cryptos and they ended up opening a crypto wallet  . we cant blame them if they stop using thier wallet  . what if they only switch to other crypto wallets or what if they only being busy at  something  . who knows they might comeback one day and start using crypto again   . the increase of 8 to 40 million was huge  .  imagin it only took 3 years to accumulate those massive amounts   . how much more when we go to another 3 year  ?  not to mention that crypto was super hot this year   .

40 million wallets for bitcoin only or all 142349+ cryptocurrencies out there?

My point was that; instead of looking for Cryptos wallets without funds, it should be for them to account for active cryptocurrency wallets instead. This would have make more sense, than just giving out the total wallets available in Cryptos.

Basically, many of these wallets created might be those who lost their password and pass phrase to their wallets. If these are the cases, then, no hope of retrieve.

Well, these statistics are really interesting and expected to be honest due to the community of crypto is on a continued rise in the entire world,  we can conclude  that the presence of Blockchain technology has a postive affect on most of domains. In fact, this definitely led to a  spread of cryptocurrencies and wallets due to they are linked.

What going to happen when all the governments recognize cryptocurrencies?
In my opinion, If this happens then it is certain the value of FIAT will decrease, and the opposite is true for Bitcoin and the followers ( the other crypto ). But we all know that the whales are controlling the market in all the time. Will this have a negative affect?

This is a lot. I didn't know that so many were created. I think this year will be created the same amount!

I was amused by your theory, how you are certain that the value of FIAT currency will decrease while the price of crypto will increase. I would like to know your theory which has no logic economically and financially we will see how the market will get impacted when countries start implementing rules and regulations for the crypto market space and how our privacy is at stake while the authorities will shut down anything that gives the users privacy, so there is a big juggle coming up and here you are thinking that fiat value will decrease  :D.