Based on estimates that the number of Bitcoin wallets has increased by four times from 8.2 mln in 2013 to nearly 35 mln in 2016, data from a new Visa-backed academic research suggests that the number of active wallets ranges from 7.5 percent to 30.9 percent of the total number.
The Global Cryptocurrency Benchmarking Study by the Cambridge Centre for Alternative Finance at the University of Cambridge puts the estimated number of unique active users of cryptocurrency wallets to have increased from between 0.6 mln and 2.6 mln in 2013 to currently between 5.8 mln and 11.5 mln in 2017.
As an inaugural research focused on alternative payment systems and digital assets, the study led by Dr. Garrick Hileman is the first of its kind to holistically examine the growing global cryptocurrency industry and its key constituents which include exchanges, wallets, payments and mining.
“81% of wallet providers are based in North America and Europe, but only 61% of wallet users are based in these two regions,” the study which collected non-public data from nearly 150 companies and individuals states. “Almost half of all wallet providers are located in the United States and the United Kingdom. If we break down origin by world region, Europe is leading with 42% of wallet providers, followed by North America with 39% and Asia Pacific with 19%.”
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