Cryptocurrency Facts - Featured Image

23 Key Cryptocurrency Facts and Stats for 2023

Table of Contents Show
  1. Top 10 Cryptocurrency Facts and Stats
  2. Crypto Market Statistics
    1. 1. Total cryptocurrency value sits at $1.14 trillion in August 2022, shedding nearly $2 trillion compared to last year.
    2. 2. The projected growth rate of cryptocurrency market size from 2021 to 2030 is 12.8%.
    3. 3. Bitcoin has grown by over 500,000% during the last nine years.
    4. 4. Six niche cryptocurrencies have a combined value of $114 billion.
    5. 5. The projected growth of REQ cryptocurrency by 2027 is 630.37%.
    6. 6. Over 15,000 companies worldwide accept Bitcoin as a payment method.
    7. 7. On average, there are 1.1 million Ethereum transactions a day.
    8. 8. The cryptocurrency adoption statistics show 880% adoption growth worldwide.
    9. 9. As of 2022, there have been over 80 million Blockchain cryptocurrency wallet users.
  3. Cryptocurrency Statistics by Country 
    1. 10. El Salvador is the only country that fully adopted a cryptocurrency as a legal tender.
    2. 11. According to 2021 cryptocurrency statistics, 32% of Nigerians have used or owned Bitcoin.
    3. 12. XRP is the most popular cryptocurrency in the UK as of Q3 2021.
    4. 13. The US is the biggest crypto mining country globally as per cryptocurrency statistics for 2021. 
  4. Cryptocurrency Ownership Statistics
    1. 14. There are over 300 million crypto users worldwide.
    2. 15. An average American crypto investor is 38 years old.
    3. 16. The same research shows that 45% of American crypto investors have a college degree.
    4. 17. Gender-related stats show that 79% of crypto owners are male.
  5. Fascinating Cryptocurrency Facts for 2021
    1. 18. According to cryptocurrency power consumption statistics, mining for Bitcoin uses 91 terawatt-hours yearly!
    2. 19. To mine for one Bitcoin, you would need 9–13 years of household electricity.
    3. 20. Crypto crime statistics for 2020 show that $1.9 billion in cryptocurrencies were lost to fraud and stolen.
    4. 21. At the time of writing, there were around 10,400 cryptocurrencies.
    5. 22. In January 2022, Bitcoin fell by 45% from October.
    6. 23. People from developing countries use cryptocurrencies more.
  6. Final Thoughts
    1. FAQ
    2. Sources:

Even if you’re not tech-savvy, there’s no way you’re not at least a bit familiar with cryptocurrencies. Today, they are everywhere. If you’re wondering what’s happening in the world of crypto or want to find out some interesting cryptocurrency statistics, read on.

Top 10 Cryptocurrency Facts and Stats

Crypto Market Statistics

Interested in learning more about the crypto market and the growing popularity of cryptocurrencies and see their statistics? Then, continue reading.

1. Total cryptocurrency value sits at $1.14 trillion in August 2022, shedding nearly $2 trillion compared to last year.

(Milan Fintech Summit)

While the overall cryptocurrency market cap grew by 220% between 2020 and 2021, the arrival of the so-called “crypto winter” cleared out around $2 trillion from the global crypto market.  While the question of whether the term “market cap” is really applicable for crypto and whether it paints a true picture of the state of the market, the sharp drop in crypto value and the downfall of several major crypto firms are clear signs of a bear market.

2. The projected growth rate of cryptocurrency market size from 2021 to 2030 is 12.8%.

(Yahoo Finance)

The cryptocurrency market is expected to reach $4.94 billion by 2030. The highest growth was expected in the Asia-Pacific region, with a 14.5% annual growth rate. The transaction part should grow at around 14.6% CAGR during the same period. However, with the recent crypto market problems, the experts are unsure of the market’s stability. 

3. Bitcoin has grown by over 500,000% during the last nine years.

(Coin Dance, U.S. Inflation Calculator)

When it was introduced in 2010, it was worth only $0.09. However, Bitcoin cryptocurrency growth statistics show that it started to grow in 2012 when it started the year at $5.27 and finished it at $12.56. 

It reached an all-time high in October 2021, when it was worth 61,374.28.

4. Six niche cryptocurrencies have a combined value of $114 billion.

(ETF Stream)

These six cryptocurrencies are ADA, XRP, DOT, LTC, SOL, and XLM. They are among the most prosperous niche cryptocurrencies. Therefore, their value is expected to grow as more and more investors turn to them.

5. The projected growth of REQ cryptocurrency by 2027 is 630.37%.

(WalletInvestor, CoinMarketCap)

Request token/currency is expected to reach $1.972 by 2027. With the available supply of 999,876,008.01 REQ coins, investment consultants recommend it as one of the best investments for smaller investors that don’t want to lose a lot.

6. Over 15,000 companies worldwide accept Bitcoin as a payment method.

(Currency Exchange International)

You can now use Bitcoin to pay at Microsoft, AT&T, as well as in many other smaller companies. Some of the companies that accept Bitcoin and Ethereum as payment methods are Overstock, Shopify, and even Sotheby.

7. On average, there are 1.1 million Ethereum transactions a day.

(Statista)

Cryptocurrency transaction facts show that Ethereum has the highest number of transactions of all larger cryptocurrencies. For a year, it didn’t go under million transactions a day. It’s bought and sold six times more than Bitcoin, its biggest competitor. Apart from Ethereum being somewhat more stable than BTC, it’s also used heavily for online gambling and sports betting, where it provides anonymity and transaction speeds fiat currencies lack.

8. The cryptocurrency adoption statistics show 880% adoption growth worldwide.

(Chainalysis Insights)

This is a YoY growth from the second half of 2020 to the second half of 2021. From 2019, cryptocurrency adoption has increased by 2,300%. 

9. As of 2022, there have been over 80 million Blockchain cryptocurrency wallet users.

(Statista, Statista)

The number of users of this popular e-wallet grew by around 15 million from the beginning of 2021. And it’s no wonder since wallet apps were downloaded over 5.6 million times during January 2021 alone.

Cryptocurrency Statistics by Country 

Countries of the world all treat cryptocurrencies differently. Read our crypto by country stats and facts — you might be surprised by some differences.

10. El Salvador is the only country that fully adopted a cryptocurrency as a legal tender.

(Associated Press News)

Bitcoin is legal tender in El Salvador as of 2021. This means that the people of El Salvador will be able to use Bitcoin for trade. Shops also have to provide the customers with a way of paying with Bitcoin. El Salvador will still be using US dollars, though, so their citizens can choose.

11. According to 2021 cryptocurrency statistics, 32% of Nigerians have used or owned Bitcoin.

(Yahoo Finance, Statista)

Nigerians like using cryptocurrencies because crypto transactions are cheap, as almost half of Nigerians live in poverty. They are also easy to send and receive by phone and cannot go through inflation.

(FXStreet, Economy Watch)

The second most popular cryptocurrency was Cardano (ADA). More was invested in XRP in Britain during the Q3 of 2021 than in any other cryptocurrency. This is because Bitcoin, Ethereum, and other big cryptos are not as popular for investment because of their high price. 

So, it’s no wonder that the projected growth of XRP cryptocurrency is more than 100% YoY.

13. The US is the biggest crypto mining country globally as per cryptocurrency statistics for 2021. 

(Al Jazeera)

Since China forbids crypto mining, they now have almost zero hash rate (computing power). On the other hand, the US takes over 35.4% of the global hash rate as of August 2021. 

Cryptocurrency Ownership Statistics

With the cryptocurrency growth, crypto ownership is also growing. Continue to see how many investors are and what groups they belong to.

14. There are over 300 million crypto users worldwide.

(TripleA)

Cryptocurrency user statistics for 2021 show that around 3.9% of the world population owes cryptocurrencies or trades with them.  The most significant number of crypto owners come from Asia — 160 million. Second is Europe with 38 million, third Africa with 32 million, while North America comes fourth with 28 million.

15. An average American crypto investor is 38 years old.

(CNBC)

This is a lot younger than an average stock investor, who is 47 years old. They are not only younger than stock investors but are also more diverse. More precisely, 44% of crypto investors are people of color, while only 35% of stock investors belong to this group. However, as the research was done on only 1,004 US adults, the results likely vary worldwide.

16. The same research shows that 45% of American crypto investors have a college degree.

(CNBC)

On the other hand, more stock investors are college graduates — 51%. Also, 35% of crypto investors are more likely to have an annual salary under $60,000. This is the case for 27% of stock investors. 

(TripleA, Yahoo Finance)

This means that only 21% of all people who own or trade cryptocurrencies are women. However, in the US, the numbers are a bit higher than the global average. More precisely, 26% of women and 74% of men are crypto owners in the US.

Fascinating Cryptocurrency Facts for 2021

We’ve left the most interesting facts for the end, so be sure to check them out.

18. According to cryptocurrency power consumption statistics, mining for Bitcoin uses 91 terawatt-hours yearly!

(The New York Times)

Although it’s only 0.5% of complete world power consumption, this is more than Finland uses in a year! It’s also similar to the amount of electricity used by Washington. And it’s only one cryptocurrency.

19. To mine for one Bitcoin, you would need 9–13 years of household electricity.

(The New York Times)

In 2010, you only needed a few seconds of electricity and a regular computer to mine a bitcoin. Now, according to cryptocurrency facts, you need expensive specialized equipment and a lot of electricity. Both the equipment and electricity are worth thousands and thousands of dollars.

So, is crypto mining worth it? Unless you have a significant amount of money to invest in it and a way to pay less for the electricity, the answer is — probably not.

20. Crypto crime statistics for 2020 show that $1.9 billion in cryptocurrencies were lost to fraud and stolen.

(Reuters)

In 2019, this number was $4.5 billion. As of 2021, crime numbers connected to cryptocurrencies are falling but are still relatively high. For example, during the first four months of 2021, $432 million was stolen from crypto users.

21. At the time of writing, there were around 10,400 cryptocurrencies.

(Statista)

Cryptocurrencies are created daily, so this number will likely keep growing. Just 6 months ago, it was closer to 6,000. Although many cryptocurrencies exist, the top 20 take up to 90% of the market value. The rest take only 10%. 

22. In January 2022, Bitcoin fell by 45% from October.

(CNBC)

It has started to grow again, but the experts are still worried. A similar fall happened on September 7, 2021, when the market went down by 400 billion in 24 hours. All cryptocurrencies but Sol coin declined by at least 10%. The market value recovered the following day.

23. People from developing countries use cryptocurrencies more.

(Chainalysis Insights)

People from Asian (excluding East Asian), African, and South American countries are more likely to adopt and use cryptocurrencies than people from developed countries. The 2021 cryptocurrency facts and figures reveal that this is because of the instability of their country’s currencies, poverty, and easy use of cryptocurrencies.

Final Thoughts

Even though cryptocurrencies have their downsides, facts about cryptocurrency show us that they are here to stay. Hopefully, this article has helped get a better understanding of just how big this market is and how much money and power is spent on it.

FAQ

What is so interesting about cryptocurrency?

The excitement and interest mostly come from the fact that you can either win it all or lose it all. It’s the same as with gambling, where your body releases dopamine and creates addiction.

There are also many benefits that attract people, like the ease of transferring funds and the lack of dependence on banks and other monetary institutions. Of course, the possibility to generate profit is an important factor too.

Can cryptocurrency make you rich?

Cryptocurrencies can definitely make you rich. You just have to follow the market and know when to sell or buy. For example, people who invested in Bitcoin in 2010 and haven’t sold all their bitcoins have probably earned a lot more than they invested.

However, you can easily lose a lot too, as the recent market changes have shown. It all comes down to knowledge, time, and understanding the risk vs. reward concept.

How many cryptocurrencies are there in 2022?

At the time of writing, there are around 10,400 different cryptocurrencies. It’s impossible to be entirely sure because cryptocurrencies come and go all the time.

How is cryptocurrency useful?

Cryptocurrency is useful because you can use it more easily than fiat currencies. In addition, it allows a certain dose of privacy that fiat currencies don’t. For many people, it has also proven to be a valuable investment. Nowadays, there are even a variety of sites that offer Bitcoin sports betting as well as Bitcoin casino games, such as poker.

What are the disadvantages of cryptocurrency?

The most significant disadvantage of cryptocurrencies is their ever-changing value. Also, as they are digital, they are very often targeted by hackers. Finally, the fact is that they aren’t regulated by any government or institution. 

Who created cryptocurrency?

The first successful cryptocurrency, Bitcoin, was created by a programmer (possibly a programmer team) under the pseudonym Satoshi Nakamoto in 2009. Before Bitcoin, there were many attempts to create cryptocurrencies, but none were as lucrative as this one.

Sources:

Share
Tweet
Share

Milica is a language aficionado, with a passion for literature and writing. Besides her English language and literature degree, she likes to study other languages in her free time. With experience in translating, writing, and teaching, she is always keen to learn more and try something new. She tries to transfer her love of research and learning something new to all her texts. When she is not working, she enjoys her dance lessons, spending time with her cat, and watching basketball.

You May Also Like

Leave a Reply