Key Cryptocurrency Statistics & Facts for 2022 and Beyond
Cryptocurrencies are increasing in popularity every year as more companies adopt them as a potential goods and services payment method. Also, you can trade crypto on mobile apps, which gives them value and has allowed many people to make a living from crypto trading. The latest cryptocurrency statistics show that the growth of everything related to the blockchain network has been evident in the last few years across many countries.
To learn more about how cryptocurrencies are shaping our world, we have compiled a list of the most interesting cryptocurrency statistics and facts. Read on!
Most Important Cryptocurrency Statistics (Editor’s Choice)
16% of US citizens use cryptocurrency.
12 countries have banned all forms of cryptocurrencies.
The value of Bitcoin increased by 208,900% in the last 10 years.
The size of the Bitcoin market stands at $87 billion.
There are more than 18,000 cryptocurrencies as of March 2022.
$3.5 billion was sent in Bitcoin to crypto wallets surrounding criminal activity.
Every 2 seconds a cryptocurrency post appears on social media.
1.1% of all cryptocurrency transactions are illegal
Over 70 million people worldwide own a blockchain wallet.
Essential Cryptocurrency Stats
Around 16% of Americans use cryptocurrency.
Have you ever thought about the number of people who use cryptocurrency in the US? 16% of people in the US using cryptocurrencies highlights a growing trend. The number represents around 53 million people, which is not neglectable by any means. Note that this statistic is not the number of people using crypto as an everyday currency. Some might be using it as an investment opportunity.
Bitcoin mining uses the same amount of energy annually that could power 10 million homes.
It is no secret that Bitcoin mining is energy-intensive, and this is one of the well-known Bitcoin facts. Stats suggest that the energy spent by Bitcoin miners could power 10 million homes. Also, this is one cryptocurrency of many. Considering how many homes could be powered instead of the entire cryptocurrency industry, the numbers could be mind-boggling.
Bitcoin miners spend 22.13% of their income on electricity bills.
Obviously, a large portion of the cost of mining Bitcoin is in electricity costs. Therefore, Bitcoin mining operations seek locations with cheap energy prices. Cooling the GPUs required to mine Bitcoin is a big part of the energy requirements. Therefore, when looking at the use of cryptocurrency by country, we can see that countries like Iceland, which are naturally cold, have a bigger potential to host Bitcoin miners than others.
Kentucky has introduced energy and tax breaks for crypto miners.
The state of Kentucky is promoting Bitcoin mining operations by giving them breaks on energy taxes. This improves the profitability and viability of Bitcoin mining. In contrast, other countries like China have outlawed Bitcoin mining by completely banning all Bitcoin-related activities.
60% of the processing power required for Bitcoin is sourced from non-renewable energy sources.
This is one of the cryptocurrency statistics in 2022 that indicates that most of the energy used for Bitcoin mining operations does not come from renewable sources. Since this is one of the biggest arguments against crypto, further adoption of cryptocurrencies will largely depend on the miners’ ability to find and utilize renewable energy sources.
12 countries do not allow cryptocurrencies to be used in any form.
While many countries are dealing with the changes that digital currencies are causing to the financial system, others are outright banning them. This might be because they are difficult to control, or they feel that bad actors can take advantage of them to carry out criminal activity.
Cryptocurrency Growth Statistics
Bitcoin’s value has increased by 208,900% from 2012 to April 2022.
The impressive growth of Bitcoin has literally turned regular folk into millionaires and/or billionaires. Bitcoin is the most popular cryptocurrency and an example of rapid wealth creation if you get in at the right time. According to cryptocurrency users' statistics, the number of people who own Bitcoin has increased over the years. However, Bitcoin continues to be volatile, so people feel it will crash while others believe its value will continue to grow.
The daily worldwide trade of cryptocurrencies has risen to $109 billion per day.
How many people use cryptocurrency for trading? When evaluating the popularity of cryptocurrencies, you need to look at the amount that is traded daily. Large volumes of crypto are traded daily, and the number continues to grow. However, the 80/20 rule is in effect here because the majority of trades are with only 20% of the currencies. When a single cryptocurrency becomes viable for buying goods, then you can expect this number to grow even higher.
The total size of the Bitcoin market is $87 billion.
Cryptocurrency statistics stated that the peak of the Bitcoin market was $1.27 trillion in November 2021, but since then, it has decreased, which is the nature of cryptocurrency volatility. Currently, the market cap is $87 billion, which means that if you wanted to buy every single Bitcoin in existence, you need to spend $87 billion.
The total market cap of cryptocurrency is $2.13 trillion, which is equivalent to the 8th largest economy in the world.
The massive size of the cryptocurrency market shows that it is here to stay for the long term. Every indication indicates that crypto adoption will continue to grow and possibly become the primary way of exchanging resources. The large capital gains from these huge wealth increases mean the tax bills are massive. Recently governments like the US classed crypto as an asset, which incurs taxes, and the gains must be shared with the IRS.
Over 18,000 cryptocurrencies exist in circulation.
Many developers have created their cryptocurrencies, hoping that it will be the next Bitcoin. From the 18,000+ cryptocurrencies, many have different characteristics and different use cases. However, Bitcoin is still the most popular one since it’s the most used cryptocurrency. Eventually, one might be created with the right features to go mainstream and challenge FIAT currencies to buy and sell goods online. Governments are also developing their cryptocurrencies to get on the bandwagon.
As of February 2021, there are over 15,000 Bitcoin ATMs.
Bitcoin ATMs allow you to withdraw cash when depositing the most common type of cryptocurrency, or you can deposit cash and receive Bitcoin to a wallet of your choosing. These Bitcoin ATMs are propagating the usability of Bitcoin, which means it has more utility than most other cryptocurrencies, and it also helps to increase the number of people using Bitcoin.
The global number of yearly Bitcoin transactions was 120 million in 2020.
This number is nothing compared to FIAT currency transactions, but it shows steady growth. Expect the growth rate to continue as the cryptocurrency market develops and continues to be accepted by businesses worldwide, increasing the Bitcoin adoption rate. For instance, many online casinos are allowing Bitcoin as a form of payment.
Disadvantages of Cryptocurrency Adoption
Since 2020, $281 million worth of cryptocurrency has been stolen.
This statistic shows that it is possible to steal large amounts of cryptocurrency. However, 80% of it has been returned. The anonymity of crypto is part of the problem. Once the funds are stolen, it is very hard to follow the trail of where the funds were sent. Contrary to popular belief, it is not impossible.
Over 70 million people have blockchain wallets worldwide.
Blockchain wallets allow you to store digital currency and keep it safe. They are protected by encryption keys that allow the user to gain entry to the currency. Wallets can be in physical form, as well, if they are sorted on an external hard drive. The encrypted data can be password protected too. Some wallets have a limited number of correct entries before denying entry forever, which means forgetful crypto users can lose access to their money.
A cryptocurrency post appears on social media every two seconds.
This statistic indicates that cryptocurrencies are gaining serious popularity since many people mention them in their social media posts. Also, it is estimated that around 14,000 to 32,000 crypto-related tweets are shared daily.
It costs $500K to $1 million to develop an algorithm that can detect crypto moving signals.
Software engineers can use their skills to develop algorithms that are able to trade on cryptocurrency prices profitably. Kind of like playing the stock market to make a profit. However, the reliability and profitability of these algorithms vary.
32% of Nigerians have owned a cryptocurrency in their life – the highest of any country.
Cryptocurrency users by country data shows that around 32% of Nigerians have had crypto in their life, which is a reasonably high figure. This might be because the financial services in Nigeria are not that developed due to regulations. Therefore, cryptocurrencies are a good alternative to doing business. In contrast, only 9% of Americans have had cryptocurrency at one point in their life.
67% of millennials view Bitcoin as a safer place to store wealth compared with gold.
Bitcoin is one of the most common cryptocurrencies and the increased trust in Bitcoin compared to traditional assets like gold is surprising. That is because gold is a physical asset that is finite. Bitcoin, in practice, is also finite, but it has a much shorter track history. Perhaps millennials are more eager to trust a distributed system compared to centralized assets that the government can control.
Cryptocurrency Crime Statistics
Just in 2020, over $1.9 billion in crypto was racked up in criminal events.
One of the most familiar crypto facts is that criminals use cryptocurrencies to earn money and the amounts earned are huge. The high levels of anonymity mean that criminals are harder to catch when digital currencies are involved. As the popularity and widespread use of cryptocurrencies grows, you can also expect criminal activity numbers to grow alongside them.
One study discovered that 2 hacking groups claimed to be responsible for about 60% of all crypto-related crimes.
If only 2 hacking groups were eliminated, then up to 60% of all crimes would go away in the digital currency world. It’s likely that there aren’t that many criminal groups since it is very difficult to breach networks that hold and process transactions.
$3.5 billion was sent in Bitcoin to crypto wallets surrounding criminal activity.
Cryptocurrency facts suggest that Bitcoin is one of the main cryptocurrencies used in criminal activity. It is unsurprising because it is the most popular virtual currency and has the most value. As other cryptocurrencies gain popularity, they will be used by criminals as a means of transferring money as well.
Only 1.1% of all cryptocurrency transactions are illegal.
Cryptocurrencies have gotten a bad name because they are viewed as a safe haven for money laundering and other illegal activity. However, crypto stats suggest that only a small fraction of total transactions are illegal. Criminals use all currencies, so illegal activities are a part of the entire financial industry, not just crypto.
How are cryptocurrencies taxed?
What are the most popular cryptocurrencies?
Can cryptocurrency overtake USD in widespread adoption?
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