Today, virtually everyone not living under a rock has heard of crypto and their flagship currency — Bitcoin. Yet, not a great many understand what it’s actually all about. The dynamics of these highly volatile and decentralized digital currencies have changed much over time, making them somewhat a subject of skepticism. Nevertheless, as our cryptocurrency statistics will show you, they provide an excellent financial alternative to entrepreneurs and people alike due to their unparalleled transparency and adaptability.
In this article, we’ll strive to give newcomers a chance to better acquaint themselves with everything crypto, including trends, the market, its brief history, and future forecasts.
So, without further ado, let’s decipher this conundrum.
Top 10 Cryptocurrency Facts and Stats
- They are virtually impossible to counterfeit and double-spend.
- Attempts at creating a fully online currency stretch back to 1998.
- 2008 was the very first time Bitcoin was publicly mentioned.
- The first purchase ever made via Bitcoin was back in 2010.
- Trends forecast a 69.4% CAGR of the global blockchain market for the 2019–2025 period.
- $303 billion was the total market cap back in February this year.
- Cryptocurrency customers won’t be glad to hear that Bitcoin is, in fact, banned in some countries.
- In December 2017, Bitcoin’s price rose by a jaw-dropping 2,000%.
- There are over 5,000 different cryptocurrencies as of 2020.
- On average, daily Bitcoin transactions totaled an estimated $6 billion in 2019.
How It All Started: Basic Cryptocurrency Stats & Facts
1. They are virtually impossible to counterfeit and double-spend.
Due to blockchain technology, these digital currencies cannot be abused the same way fiat currencies can, making them a safer and more reliable alternative. Namely, their publicly distributed ledger — shared over numerous computer networks — makes them impervious to counterfeit shenanigans, seeing how the data is highly decentralized; to manipulate the data you’d have to hack not one but all the computers on that network (good luck with that).
2. More fun Bitcoin facts: cryptocurrencies that aren’t Bitcoin are referred to as “altcoins.”
Inspired by the mind-blowing success of Bitcoin (launched back in 2009), quite a few competitors rose up to challenge (and dethrone) the world’s most expensive cryptocurrency.
What is the best cryptocurrency to mine today? Apart from Bitcoin, the best ones are Peercoin, Ethereum, Litecoin, EOS, and Cardano. There are over 5,000 cryptocurrencies in total, with new contenders appearing every day.
3. Attempts at creating a fully online currency stretch back to 1998.
Bitcoin wasn’t the world’s first shot at creating a virtual currency. According to cryptocurrency statistics, there were multiple attempts, the most notable being Bit Gold and B-Money. Still, neither of them were fully developed, and the rest is history.
4. 2008 was the very first time Bitcoin was publicly mentioned.
A whole year before its official release, a paper was posted on a mailing list by a mysterious pseudonym named — Satoshi Nakamoto. The paper in question was called “Bitcoin: A Peer to Peer Electronic Cash System.”
The following year, it was available for mining and became one of the most popular cryptocurrency to this day.
5. The first purchase ever made via Bitcoin was back in 2010.
In 2010, Laszlo Hanyecz bought two pizzas for 10,000 bitcoin, which was around $30 back then. Today, that would be a grand total of approximately $90 million, so we sincerely hope those were some yummy pizzas!
Cryptocurrency Forecasts and Trends
6. Cryptocurrency trends forecast a 69.4% CAGR of the global blockchain market for the 2019–2025 period.
Where would crypto be if it weren’t for blockchain (and vice versa)? Consequently, the technology behind the crypto revolution is estimated to be worth somewhere around $57,641.3 million by the end of 2025.
7. According to the latest cryptocurrency predictions, there are around 18 million bitcoins circulating online as of now.
What’s more, data from November 2019 suggests that the overall market value of Bitcoin reached a staggering $146 billion. However, in only a few months, it managed to jump to almost $172 billion. We can only imagine how much the price will soar once all the bitcoins have been mined.
8. The cryptocurrency Market Cap for 2020 was $303 billion back in February this year.
More precisely, it reached this figure on none other than Valentine’s Day; how lovely!
To no great surprise, Bitcoin made the lion’s share, or 64.19%, of that total.
9. Bitcoin is banned in some countries.
What countries have banned this cryptocurrency? Not a whole lot, but the list includes countries such as Afghanistan, Pakistan, Algeria, Bolivia, Bangladesh, North Macedonia, Saudi Arabia, Qatar, Vanuatu, and Vietnam.
In China, for example, there are certain restrictions when it comes to trading with cryptocurrencies. The latest news is very positive as Bitcoin is becoming observed as a digital asset that ought to be protected by the law.
10. In the US, men are more aware of cryptocurrencies than women.
In 2019, 78% of male respondents were aware of Bitcoin, whereas merely 71% of women said the same. Likewise, 20% of female respondents have not even heard of cryptocurrencies up to that point, which is also true for 17% of their male counterparts.
11. Cryptocurrency market trends reveal that the vast majority of UK crypto-owners invested in Bitcoin.
Approximately, 1.1 million people in the UK invested their money in crypto. And most of them, or 78.95%, opted for Bitcoin.
12. A 2018 Harris Poll survey concluded that almost half of all Americans were unfamiliar with cryptocurrencies.
According to the survey, nearly 48% of all US adults were unfamiliar with said currencies. The data from 2019 has demonstrated that the situation has changed for the better.
13. Millennials and Gen Xers are more aware of crypto-trends.
If we take a look at the most recent cryptocurrency demographics, the younger generations are, naturally, more in tune with this rising technology.
ING’s international survey from 2018, which includes Australia, America, and Europe, concluded that as much as 69% of Millennials and Gen Xers know about cryptocurrencies.
Interesting Facts About Cryptocurrencies
14. In December 2017, Bitcoin’s price rose by a jaw-dropping 2,000%.
Namely, in January 2017, the cryptocurrency rates of this digital coin reached $1,000, taking experts by surprise. However, by the year’s end, it would baffle these same experts even more as it reached nearly $20,000.
After reaching its historic peak, the rates started fluctuating on a daily basis before crashing down and then stabilizing at around $9,000 (as of now). Compared to recent gold statistics, this is actually still impressive.
All in all, experts agree that 2017 showed the true potential of Bitcoin and cryptocurrencies in general.
15. 153 million was the total number of Bitcoin user addresses in 2019.
This figure is a good indicator of the cryptocurrency market size of 2019. Still, determining the exact number is difficult since one owner can use multiple addresses. Data from Blockchain.info claims that the number of active addresses still totals around a substantial figure — roughly 550,000.
16. 2017 was a historical year for Litecoin as well.
Although Bitcoin had a historic year in 2017, it wasn’t the only cryptocurrency to see tremendous growth that year. Namely, Litecoin outmatched Bitcoin in terms of value growth with an increase of 7,800% — nearly four times that of Bitcoin.
Still, Litecoin’s cryptocurrency rates left much to be desired for, sitting at just $360.93.
Experts believe that the tremendous growth rate was due to a lot of people losing their faith in Bitcoin and because Litecoin transactions are swift.
17. There are over 5,000 different cryptocurrencies as of 2020.
Namely, as of April 2020, the total number of different cryptocurrencies reached 5,392.
What’s more, experts estimate that the best cryptocurrencies are topped by Bitcoin, mainly due to its market share.
18. Cryptocurrencies are more a commodity than they are a currency.
The truth is probably somewhere in between. The fluctuation in cryptocurrency prices could, in fact, be due to this “identity crisis” digital currencies are facing at the moment. Namely, you can use bitcoins, for instance, to buy stuff directly just like any other fiat currency (remember those two $90 million pizzas?).
On the other hand, it behaves much like a commodity (such as gold and oil) — it’s both bought and sold via cash markets and futures. Moreover, it, too, is familiar with the stock market crash.
Whatever the case, this hybridizing nature of cryptocurrencies is allowing it to have the best of both worlds.
19. 42.9 million was the number of active crypto traders in 2019.
What’s more, this same crypto trader statistics report revealed that 35% of these traders were from the US, whereas another 24% were from Europe.
In addition, data from Statista also states that the number of active Blockchain wallets was around 47.14 million in Q1 2020.
20. On average, daily Bitcoin transactions totaled an estimated $6 billion in 2019.
Another one in the series of cryptocurrency statistics and facts: Bitcoin transactions are still up to par with other major payment networks in the US. Despite the turbulent nature of the currency’s exchange rates over the years, it took third place on the respective list behind Visa and Mastercard.
21. As of July 2020, there are over 8,000 Bitcoin ATMs across the globe.
That latest bitcoin stats indicate that the total number of Bitcoin ATMs in July 2020 was 8,488. Of that, 81% were located in the US.
The report also revealed that the main Bitcoin ATM manufacturers were Genesis Coin and General Bytes with a respective market share of 30.0% and 31.8%, respectively.
What are the top 5 cryptocurrencies?
(Yahoo Finance) (Bitinfocharts)
Although digital currencies devalued last year, a few coins still possess potential long-term ROI.
When it comes to current statistics, investors should look at specific indicators and factors.
As such, market capitalization (the value of issued coins) and liquidity levels are great factors to look at.
Hence, by using this method, the top 5 cryptocurrencies (as of July 7, 2020) are:
- Bitcoin — experts believe Bitcoin will continue to dominate the market in the upcoming period as new technologies will enable users to implement Bitcoin transactions in a wider palette of applications.
- Ethereum — according to the most recent Ethereum statistics, the current market value of all Ethereum altcoins is $26,664,514,277, which is $238.8 each (coin).
- EOS — it’s third on our list with a total market capitalization of $2,602,561,669 ($2.55 per coin). Experts predict that EOS might be a worthwhile investment if Uber, Amazon, and Twitter eventually move to a blockchain-based system.
- NEO — this China cryptocurrency was the first open-source token that tried to transform the current financial system by combining real and digital assets. As of July 2020, one NEO coin is worth $10.37.
- Ripple or XRP — Ripple is an excellent long-term investment due to its successful infiltration of the banking infrastructure. Despite the forecasts being promising, XRP is the cheapest cryptocurrency on the list as one coin costs only $0.185.
What is the leading cryptocurrency?
(Investopedia) (Coinmarketcap) (Yahoo Finance)
Without any doubt, Bitcoin is currently the leading cryptocurrency on the planet. At the moment, it has a domineering market cap of 65–70% valued at $171,192,719,514.
Additionally, one Bitcoin is valued at $9,290.93 as of July 2020.
Which countries use cryptocurrency the most?
Japan takes first place with the most progressive regulations regarding crypto transactions.
Next on the list would be Switzerland — it passed several rather progressive laws regarding cryptocurrencies, even enabling users to conduct direct transfers from certain banks.
Lastly, Singapore takes third place on our list when it comes to cryptocurrency statistics by country. Here, authorities view cryptocurrency as more than just money; in other words, companies that operate via altcoins or BTC enjoy low taxes of just 7%.
Despite having a few setbacks, cryptocurrencies are here to stay.
As of now, there’s still a lot of hype surrounding these digital assets and the idea of a truly decentralized currency captivates the mind of many a user.
We hope these cryptocurrency statistics helped you gain a better understanding of how these ingenious digital coins work and how to make a profit off of them. Whether you choose to buy them, sell them, or store them (for rainy days), we wish you — good luck!