The global user base of cryptocurrencies increased by nearly 190 percent between 2018 and 2020, only to accelerate further in 2022. This is according to calculations from various sources, based on information from trading platforms and on-chain wallets. Increasing demographics might initially be attributed to a rise in the number of accounts and improvements in identification. In 2021, however, crypto adoption continued as companies like Tesla and Mastercard announced their interest in cryptocurrency. Consumers in Africa, Asia, and South America were most likely to be an owner of cryptocurrencies, such as Bitcoin, in 2022.

How many of these users have Bitcoin?

User figures for individual cryptocurrencies are unavailable. Bitcoin, for instance, was created not to be tracked by banks and governments. What comes closest is the trading volume of Bitcoin against domestic fiat currencies. The source assumed, however, that UK residents were the most likely to make Bitcoin transactions with British pounds. This assumption might not be accurate for popular fiat currencies worldwide. On top of that, coins such as Tether or Binance Coin - referred to as "stablecoins" - are often used to buy and sell Bitcoin. Those coins were not included in that particular statistic.

Wallet usage declined

Total crypto wallet downloads were significantly lower in 2022 than in 2021. The number of downloads of Coinbase, Blockchain.com, and MetaMask, among others, declined as the market hit a "crypto winter" over the year. The crypto market also suffered bad press when FTX - one of the largest crypto exchanges based on market share - collapsed in November 2022. Binance, on the other hand, regained some of the market share it had lost between September and October 2022, growing by 0.8 percentage points in November.

American adults with a relatively high income were more likely than adults with lower incomes to hold cryptocurrency as an investment tool. This is according to an annual household survey in the United States, that asked about how and why consumers would be using the digital asset. Seven percent of American adults used crypto solely for investment purposes, while only two percent utilized it for payment transaction. The market share of cryptocurrency as a dedicated payment method was relatively low in the U.S., like in other countries. A low market size in e-commerce The impression from this survey - most consumers viewing crypto primarily as an investment vehicle, not a day-to-day payments tool - is backed up elsewhere. A 2023 ranking of the most used payment methods in global e-commerce, based on transaction value, predicted cryptocurrency was used in about 17.5 billion U.S. dollars' worth of online shopping, or 0.2 percent of the total market in 2023. A forecast on the value of crypto payments in e-commerce predicted a 0.5 percent market share by 2026. Uncertainty in the industry Central banks had a clear opinion on whether blockchain has a future part to play in the global payments industry: Nearly two-thirds of central banks worldwide were "unsure". 15 percent of the respondents imagined domestic use cases for blockchain payments, against 13 percent who pictured cross-border solutions. Interestingly, payment industry professionals believed blockchain and cryptocurrency a less important payment tech trends in 2024 than real-time payments or tokenization.

The proportion of respondents aged between 28 and 43 who utilize cryptocurrencies for crypto purposes was significantly higher compared to the other age groups. This is according to a survey held in 14 different countries across North America, Europe, and Latin America. When it came to gender, men were more likely to use digital currencies than women.

In 2022, 58.7 percent of cryptocurrency investors in Indonesia were between 18 and 24 years old. In comparison, only 0.3 percent of investors were 55 years and older. In recent years, investing in cryptocurrencies has become popular among Indonesians.

The rise of cryptocurrencies in Indonesia

From January to December 2021, the number of registered cryptocurrency owners in Indonesia increased by 68 percent, reaching 11.2 million users at the end of 2021. When the entire population is taken into account, around 4.5 percent of Indonesia's population are cryptocurrency owners. Given that Indonesia is the fourth-largest nation in the world with a high digital commerce penetration rate, there is still a lot of room for expansion in the country's financial sector, particularly in the blockchain sector.

Indonesia’s government is supporting cryptocurrency development in the nation

Indonesia’s cryptocurrency transaction value reached almost 860 trillion Indonesian rupiah in 2021. Based on their transaction values, Bitcoin, Ethereum, and Dogecoin have been Indonesia’s leading cryptocurrencies. The government of Indonesia decided to support the growth of cryptocurrencies since the country’s interest in them has grown. Since 2019, Indonesian cryptocurrency trading has been supervised and regulated by the Commodity Futures Trading Regulatory Agency (BAPPEBTI), under the Ministry of Trade. Although Indonesian law does not yet permit the use of cryptocurrencies for payments, the government has permitted the trading of cryptocurrencies as commodities.

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Cryptocurrency Market Size 2025-2029

The cryptocurrency market size is forecast to increase by USD 39.75 billion at a CAGR of 16.7% between 2024 and 2029.

The market continues to evolve at an unprecedented pace, driven by increasing investment in digital assets and growing acceptance by retailers as a legitimate form of currency. According to recent reports, global investment in cryptocurrencies reached an all-time high in 2020, with institutional investors leading the charge. This trend is expected to continue, as more financial institutions explore the benefits of cryptocurrencies for portfolio diversification and transaction settlement. However, the market's volatility remains a significant challenge for both investors and businesses. The value of cryptocurrencies can fluctuate dramatically in a short period, making it difficult to predict future trends and assess risk. Despite this, many companies are finding ways to capitalize on the opportunities presented by the market. For instance, some retailers have begun accepting Bitcoin and other cryptocurrencies as payment, while others are exploring blockchain technology to streamline transactions and enhance security. To navigate this complex and dynamic market, companies must stay informed about the latest trends and developments. This includes keeping abreast of regulatory changes, technological advancements, and market sentiment. By doing so, they can position themselves to take advantage of emerging opportunities and mitigate potential risks. Overall, the market offers significant potential for growth and innovation, but also presents unique challenges that require careful planning and strategic foresight.

What will be the Size of the Cryptocurrency Market during the forecast period?

Request Free SampleThe market, driven by the underlying technology of blockchain, represents a decentralized currency system that has gained significant global adoption as a digital alternative to traditional fiat currencies. With a total market capitalization surpassing USD2 trillion, this dynamic market is characterized by price volatility, presenting both opportunities and risks for investors. Theft and security concerns, regulatory outlook, and energy consumption with environmental effects are among the challenges faced by this industry. Skilled developers and financial services institutions are increasingly embracing this digital revolution, leveraging blockchain technology to create innovative consumer protection solutions and ensure financial stability. Meanwhile, the rise of decentralized systems and public ledgers has given way to the proliferation of digital assets, leading to an influx of fraudulent investments. Renewable energy sources and blockchain talent are becoming essential components of the cryptocurrency ecosystem as the industry strives to address concerns related to energy consumption and environmental effects.

How is this Cryptocurrency Industry segmented?

The cryptocurrency industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. TypeBitcoinEthereumOthersRippleBitcoin CashCardanoComponentHardwareSoftwareProcessMiningTransactionMiningTransactionEnd-UseTradingE-commerce and RetailPeer-to-Peer PaymentRemittanceTradingE-commerce and RetailPeer-to-Peer PaymentRemittanceGeographyNorth AmericaUSCanadaEuropeGermanyItalySwitzerlandThe NetherlandsUKAPACChinaJapanSouth AmericaBrazilMiddle East and Africa

By Type Insights

The bitcoin segment is estimated to witness significant growth during the forecast period.Bitcoin, the largest cryptocurrency by market capitalization, is a decentralized digital currency valued at over USD470 billion. It operates on a peer-to-peer (P2P) system without central authorities. The top four stablecoins, Tether, USD Coin, Binance USD, and DAI, are directly pegged to the US dollar and collectively hold a significant market share. In the US, approximately 8% of the population engages in cryptocurrency trading. Bitcoin, as a digital asset, is created, stored, processed, and transferred using blockchain technology – a decentralized system. Other cryptocurrencies like Ethereum, Ripple, and Litecoin also follow this model. The market is evolving, with financial services increasingly adopting digital assets for transactions, investments, and consumer protection. Blockchain technology powers digital wallets, crypto exchanges, and smart contracts, enabling decentralized finance, token offerings, and decentralized applications. The market is subject to price volatility and theft risk, necessitating wallet security and regulatory compliance. Energy consumption and environmental effects are areas of concern, with renewable energy solutions emerging. Skilled developers are in high demand for cre

As of November 2024, around 75 percent of cryptocurrency investors in Thailand were between 18 and 24 years old. In comparison, only 1.1 percent of investors were 55 years and older. Since the COVID-19 pandemic, many Thais have become interested in cryptocurrencies.

Introduction

Bitcoin Statistics: Bitcoin, often called "digital gold" or a "cryptocurrency," emerged in 2009, created by an enigmatic individual known as Satoshi Nakamoto.

It functions on a decentralized blockchain network, notable for its capped supply of 21 million coins, establishing it as a deflationary asset.

Bitcoin enables direct peer-to-peer transactions without intermediaries, employing robust cryptographic security measures.

It has garnered recognition as a digital store of value and a medium of exchange, attracting investments and offering potential solutions for remittances and financial inclusivity.

Despite encountering obstacles like regulatory scrutiny and scalability concerns, Bitcoin's continual development is disrupting conventional financial systems, and its enduring influence on the worldwide economy remains a topic of profound interest and pioneering advancements.

The number of people who use or hold crypto in the Netherlands grew by 200,000 between the end of 2022 and the end of 2021. This is according to Statista estimates, compiled from various reports and research. The numbers provided are from Statista's Crypto pulse check, a quarterly report aimed at mapping out the size and characteristics of crypto markets in 50 different countries worldwide in a cross-comparable way. The anonymity behind cryptocurrencies – a key feature in their design – makes it difficult to find reliable data on a country-level. Consequently, data research on how many people worldwide use this new form of money is in its infancy. The numbers shown here should therefore be regarded as estimates.

As of November 2024, most cryptocurrency investors were male, amounting to 52.9 percent of total investors. Cryptocurrencies have become a highly demanded form of investment among Thais recently.

The Bitcoin and Crypto Wallets market has become an essential facet of the broader cryptocurrency ecosystem, providing users with secure and efficient ways to manage their digital assets. As cryptocurrencies gain mainstream acceptance and adoption, the demand for reliable crypto wallets has significantly increased.

According to a 2020 survey in Turkey, a small number of respondents used cryptocurrencies for transactions - of which seven out ten were from Gen Y. The numbers provided in here are significantly different from various sources that list Turkey as one of the countries worldwide with a large interest in crypto, including consumer surveys conducted on this topic by Statista. Unlike most other surveys - which focus on ownership - this particular survey seems to look at practical use, asking respondents whether they used cryptocurrencies for transactions or trading.

Bulgaria was more likely to use cryptocurrency methods for crypto than Italy or several other countries in Europe and North America. This is according to a survey held in seven different countries across the region. According to the survey, Bulgaria, and the United Kingdom surpassed the global average for the use of this payment method in crypto.

Although a majority of U.S. adults in early 2021 was not interested in cryptocurrencies as a tool for investments, more people had become aware of them. The percentage of respondents who said in two surveys in 2021 and 2019 that they had not invested in digital currencies like Bitcoin or Ethereum, and were not going to, had remained the same. The respondents who said they had not heard of cryptocurrencies declined in this same period, however. This might have several causes, including the price increases of Bitcoin (BTC) in early 2021 or Tesla's growing involvement in cryptocurrencies. One other reason might be PayPal: the payment provider announced in October 2020 that it would be possible to buy virtual currencies using a PayPal wallet. By the end of 2020, Paypal had recorded its highes-ever total payment volume or TPV.

People in Colombia used cryptocurrencies more often than they did in Brazil or other Latin American nations to buy more coins. This is according to a survey held in seven different countries across the region. The study found that Colombia, Peru, and Argentina used cryptocurrency more frequently than other Latin American countries when buying more cryptocurrency.

U.S. adults grew increasingly more resolved over recent years on whether they wanted to buy Bitcoin, with younger age groups spearheading this development. The percentage of people indicating they are either "very" or "somewhat" likely to buy Bitcoin in the next 5 years increased by 13 percentage points among 18-to 34-year-olds between the spring of 2019 and the fall of 2020. Note that the survey figures provided were from before the surge in the price of Bitcoin that occurred in late 2020 and early 2021. The source even mentions that despite the price being below the all-time height observed during publication, "a surge in the general population's propensity to purchase Bitcoin" was observed during the survey.

There were no sizable differences in the use of credit cards for crypto purposes across age groups in either Europe, North America, or Latin America in 2024. This is according to a survey conducted in 14 countries across the three regions. The share of users using credit cards for cryptocurrency was slightly higher among Baby Boomers (ages 60 to 78) and Millennials (ages 28 to 43) than among the other age groups.

Decentralized Finance users reached a peak of 7.5 million unique users in late 2021, whereas figures in 2023 are considerably lower. This according to a network crawling code that tries to measure the number of unique user addresses involved in buying or selling specific projects associated with DeFi. For example, the code lists data fetching commands associated with Uniswap and Aave — two DeFi protocols with a market cap that was higher than one billion U.S. dollars in March 2022. As Decentralized Finance — much like cryptocurrencies or NFTs — are not being tracked by an official government, these procedures try to measure "network activity". Such activity on the Ethereum blockchain/network, the most used blockchain for DeFi, or elsewhere — tend to be the only source of information on the market size of these topics. However, the source does acknowledge the numbers shown are not without their potential flaws. DeFi in 2023 is relatively small-scale Often remarked as a potential breakthrough trend for 2024, the TVL (total value locked) of DeFi in 2023 reveals a market that is much smaller than in 2021. The amount of money stored in Decentralized Finance was worth about 50 billion U.S. dollars by November 2023, compared to 175 billion U.S. dollars at the end of 2021. Two reasons can be named for this decline. First, the overall cryptocurrency markets has witnessed several dramatic moments. Prices declined after the crash of stablecoin LUNA, and the sudden collapse of crypto exchange FTX in 2022. In 2023, the United States government handed out one of its largest ever corporates fines to Binance — the world's largest crypto exchange. Second, analysts believe the high yield on U.S. Treasury bonds in 2023 when compared to DeFi yields negatively impacted the young industry — as these bonds pose lower risk than DeFi. DeFi use cases: Supporting crypto investments Decentralized Finance hopes to offer different digital financial services, which are run by a community in a so-called decentralized autonomous organization (DAO) away from banks or governments. These services can include asset management, money lending, or trading, potentially making it possible to offer services that traditional finance cannot do. By late 2023, however, DeFi focused on two main use cases: Liquid staking and money lending. These processes are there to support crypto investors, specifically. The market size of insurance within Decentralized Finance, for example, was much smaller in comparison.

The number of people who either used or held a cryptocurrency in the United States was 5 million higher at the end of 2022 than in 2021. This is according to Statista estimates, compiled from various reports and research. The numbers provided are from Statista's Crypto pulse check, a quarterly report aimed at mapping out the size and characteristics of crypto markets in 50 different countries worldwide in a cross-comparable way. The anonymity behind cryptocurrencies – a key feature in their design – makes it difficult to find reliable data on a country-level. Consequently, data research on how many people worldwide use this new form of money is in its infancy. The numbers shown here should therefore be regarded as estimates.

The number of crypto users accelerated since 2017, with 20 percent of all crypto consumers buying their first digital assets in 2021. The survey held by cryptocurrency retailer CryptoRefills, a company that sells vouchers and gift cards, also suggests that less than one out of three surveyed crypto holders started investing before the first cryptocurrency boom in 2017. The source does mention specifically that the survey was during the second quarter of 2022 - so figures for 2022, it states, are "incomplete". It is likely the remaining parts of 2022 would severely impact this particular graphic, as the monthly number of global cryptocurrency users increased by nearly 100 million between January and November 2022. This, however, was not as big of an increase as in 2021.

Buy now, pay later (BNPL) was used in equal measure when purchasing cryptocurrency across all age groups in 2024. This is according to a survey conducted in 14 countries across North America, Europe, and Latin America. The average share of users using BNPL for crypto across ages was at four percent. Male respondents, however, did use BNPL slightly more frequently than their female counterparts.