Crypto.com Predicts 1 Billion Global Crypto Users in 2022!

[pushups44]

Crypto.com has published a report asserting that it expects one billion crypto users by the end of 2022.

Some excerpts:

According to Crypto.com research, there were over 292 million crypto users worldwide as of 30 November 2021.

[...]

Crypto will become a fixture in the alternative asset class for investment portfolios. The first crypto ETFs launched this year were met with demand beyond their capacity, suggesting that more crypto instruments in the mainstream finance industry will soon follow.

[...]

On the technical side of things, the crypto industry will have to scale fast to meet its exponential demand. Cross-chain DeFi protocols will become the norm, paving the way for a multi-chain future of replacing the siloed chains of the past.

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[mk4]

Depends what they specifically mean by "users". If they actually mean people who actually use cryptocurrencies for their specific purpose or people who actually hold bitcoin as a hedge or a long term hold, I kinda doubt it. If they meant people who register on custodial exchanges just to temporarily ride on hype, then maybe.

[CryptoWebDirectory]

That would be pretty nice if it happened. Bitcoin was over 1 Trillion in Market Cap at one point this year. I can only imagine what that would be at if there are more than double the amount of "users" as Crypto.com is stating..

[DapanasFruit]

No question that 2022 can be another year for more cryptocurrency adoption but projecting that users can be reaching up to 1 billion - that number can be hard to reach not unless maybe there can be a consortium of organizations that got money to spend on promotions or marketing. Now, if there can be at least five more small countries that can be adopting Bitcoin as a legal tender just like El Salvador, maybe that can helps a lot with the goal of one billion. Anyway, whether the industry can reach that target or not does not matter to all of us, what is important is we are growing at a good rate everyday.

[sunsilk]

It's for the entire crypto community right and not just their number of users? There are also a lot of users from Coinbase and Binance, including the other exchanges that are also popular to this date.

The count is inevitable to grow because the market keeps on growing and growing and that's really bound to have a lot of users.

[stompix]

Crypto.com has published a report asserting that it expects one billion crypto users by the end of 2022.

Oh god, again with the hundreds of millions of users, we are constantly bombarded with those numbers and if you look at the damn blockchain there is right now 1 full block out of 5, bitcoin does 300k a day and etherum 1.2 million, adding all of Binance tokens and the other major coins we get to 10 million and that is transactions, one user could and should do a lot of them to be considered "user".
At the current number, it would mean each "users" does one! not more than that, every three weeks, common!

If we had those numbers we won't be lingering around $50k for this long, just imagine, 200 million!!!!!
India is quoted with 100 million users, for god's sake their prime minister was voted by 229 million, you have half of that is crypto users and there is no major initiative or protest against the current situation regarding cryptos?

There is a long way to 1 billion and we're just past the start line.

One more thing, the number of 1 billion might indeed be reached because crypto.com decided to include the digital yuan in this:

As of November, China’s CBDC has been used for $9.7B transactions and 140 million people have opened wallets for the digital Yuan (eCNY).

Why? God knows!

[rhomelmabini]

Kind dazed on that number but it's just a prediction on the contrary that might be a good thing, I think on the long run it's expected for an increase.

One more thing, the number of 1 billion might indeed be reached because crypto.com decided to include the digital yuan in this:

As of November, China’s CBDC has been used for $9.7B transactions and 140 million people have opened wallets for the digital Yuan (eCNY).

Why? God knows!

I guess that make some sense on their prediction, I wonder why they included it as a reference for this prediction.

[Bttzed03]

~ not unless maybe there can be a consortium of organizations that got money to spend on promotions or marketing.

Crypto.com is also one of these companies that are advertising on different sports/events. You see their jersey on NBA, UFC, and even European football leagues. They call it partnership but they probably spent a significant amount of money.

Having said that, it's only natural that they come up with predictions like that. They're expecting their marketing efforts to bear fruit$.

[DdmrDdmr]

They don’t mention how they predict the 1B users by end of 2022, but briefly going over their report, and the chart on page 18 for 2021 (still logically lacking a month’s data), it looks like they might have made a rounded-up linear projection: If 2021 tripled from start to end, 2022 should at least triple the numbers of end of 2021 (their potential thought, not mine).
That roughly makes up for the 1B users projection, although, were it the method used, there should be some notes that back the hypothesis in an ever changing market and regulatory environment.

The actual number of users for 2021 is depicted here (as of July 2021), although the core calculus details are referenced here (June 2020 report).

It’s an estimate, bases on many assumptions (i.e. data is extrapolated from Exchange deposit addresses for a group of Exchanges, combined with their market share and a survey that stated that 89% of crypto users use Exchanges) and additional prior surveys. I’ve whipped through enough to grasp bits of their methodology, but I’m not going to try to go full in-depth.

Given the number of assumptions and chain usage of data (which tends to propagate the error), it´s going to be as estimate with many side notes.

[Lucius]

Given how aggressive the company is when it comes to promotions, I'm not surprised that they have reached for one sound and round number that will appeal to anyone who fantasizes about the new ATH and Lambos. But as much as they want to be optimistic, or does anyone want to believe that such a thing is possible, is it realistic that in 12 years the number of crypto users has reached a total of 292 million, and then in one year that number will triple?

Children believe in fairy tales, adults should know the difference between a fairy tale and reality, and I believe that this is nothing more than an attempt by the company in question to gain more new clients through rather ill-founded speculation.

[pushups44]

Coinbase alone is claiming over 73 million verified users. While there is a lot of skepticism about Crypto.com research, I still haven't seen any evidence their estimates (at least of usage up to now) are wrong.

Approximately 73 million verified users, 10,000 institutions, and 185,000 ecosystem partners in over 100 countries trust Coinbase to easily and securely invest, spend, save, earn, and use crypto.

[DaveF]

I really can't ever see getting a "real" number at this point in time. And they are saying 1/8 of the world will have crypto. I just don't see it.
Too many people with no access to it. Too many people who don't know or understand it. Too many people who don't trust it. And so on.
If they said 500 million I could go possibly.

The other issue is getting "real" numbers:
Once person can have accounts on Coinbase & Gemini & Binance & many more accounts. And all the unregulated / non KYC exchanges that you can't even get user into from.
Truly accurate numbers are just about impossible.

Just my view.

-Dave

[avikz]

Even 292 millions users sounds a bit over rated! Because if tou dig at the ground level, you will realize that majority of the crypto holders are just investors who have either seen TV commercials or received a recommendation from their friends to invest in crypto to get rich. I would assume at leat 50% of these 292 millions are these kind of investors.

So even if the number goes up to 1 billion, a large percentage of that 1 billion will have no idea what blockchain is or what bitcoin is. What matters to them is the price and that's it!

Adoption it is!

[cheezcarls]

Crypto.com has published a report asserting that it expects one billion crypto users by the end of 2022.

Some excerpts:

According to Crypto.com research, there were over 292 million crypto users worldwide as of 30 November 2021.

[...]

Crypto will become a fixture in the alternative asset class for investment portfolios. The first crypto ETFs launched this year were met with demand beyond their capacity, suggesting that more crypto instruments in the mainstream finance industry will soon follow.

[...]

On the technical side of things, the crypto industry will have to scale fast to meet its exponential demand. Cross-chain DeFi protocols will become the norm, paving the way for a multi-chain future of replacing the siloed chains of the past.

Not really convinced about the “users” word. I don’t know if in their minds if they’re considering those “one-time and be gone” type of users in the count, but I would rather believe the word “awareness” than “users”. That’s just my own opinion.

Yes 2022 is going to be huge for crypto adopters like us especially the metaverse, but the numbers being projected by Crypto.com are insanely ridiculous.

[Imran232]

Crypto.com has published a report asserting that it expects one billion crypto users by the end of 2022.

Some excerpts:

According to Crypto.com research, there were over 292 million crypto users worldwide as of 30 November 2021.

...................

Wow, we've reached a significant milestone.If I am not wrong, of these 300 million, almost 100 million plus users are from India. And they changed the whole crypto market when they accepted bitcoin. And I heard some news but I cannot find it right now, which was that the market analysis says 100k crore of Indian rupees has been invested in crypto after accepting bitcoin till this day. That is huge news. And it is true that the day after people learn about bitcoin, they begin to invest in it, and new users enter the market.If this continues, then 1 billion users is just a matter of time. If crypto.com predicted something like that, then it could happen too. They predict the reality.

[The Cryptovator]

If you compare it with the last few years then it is possible that cryptocurrency users would touch at the end of 2022. A lot of people introducing cryptocurrency day by day due to various reasons. It's quite important to spreading the word about cryptocurrency and Bitcoin with general citizens. Just do not expect all they need to invest, just introduce is enough to attract them later on. That's how Bitcoin enters our society. Recently many news published in our country about Bitcoin since it's illegal in my country. As a result, more citizens become more curious about Bitcoin and how this works exactly. So overall observation, I think crypto dot com report would be true,  or would near-miss as well.

[Jawhead999]

It's already 11 years Bitcoin exist but the crypto users only 292 million or 27 million/year and they predict 708 million people will interested about crypto in 2022? It's really far than the realistic, not to mention market still in red which make new people will not really interested.

If Bitcoin will bullish in the next year I predict the highest crypto users only hit 400-500 million, nothing more but can less.

[Woodie]

I wouldn't doubt crypto.com's prediction because users showing interest and actually using these digital currencies is growing on a daily basis and am certain if this data was to be collected and plotted on a graph this certainly would show the exponential growth and besides being among the biggest crypto service providers they are in a position to know.

[kryptqnick]

This sounds like a very generous estimate, but even so it's merely around 4% of the population at best. And I'm sure it accounts for everyone who has some sort of cryptos, not merely for those who actually do anything with their cryptos from time to time. Even if the number of users triples within one year, which I doubt, it'll be less than 15% of the population, which is far from true global adoption. But I won't argue that in a matter of years the situation can change drastically, and cryptos will become as used as smartphones. That being said, people use smartphones many hours per day, whereas I'm not sure about all these crypto users. What also matters is how people use cryptos. If it's crypto trading, I'm not sure it's a big accomplishment.

[Lucius]

India is quoted with 100 million users, for god's sake their prime minister was voted by 229 million, you have half of that is crypto users and there is no major initiative or protest against the current situation regarding cryptos?

Someone invented and rounded up the figure to 100 million, and I could bet that it is those who dream that something like this will happen one day, they actually do FOMO to attract others to invest. As much as you and some others have tried to point out the illogicality of these numbers, there are those who firmly believe in it.

If I am not wrong, of these 300 million, almost 100 million plus users are from India. And they changed the whole crypto market when they accepted bitcoin. And I heard some news but I cannot find it right now, which was that the market analysis says 100k crore of Indian rupees has been invested in crypto after accepting bitcoin till this day.

Maybe you should read the post from @stompix, he doesn't think it's even close to what you think, and I also think that India does not have maybe even 10% of that number, unless all are very quiet and peaceful citizens who do not express their views. I wonder what will happen if India goes the way of China when it comes to cryptocurrencies - will we be able to survive it