Cryptocurrency’s widespread popularity worldwide has caused investors to flock to the trend as new ones are released on the market and others increase in value. By analyzing the behaviors of crypto wallet holders, future cryptocurrency investors can evaluate the reasoning behind specific market trends. As blockchain technology is more innovative through technological advancements, it will alter the financial landscape of crypto investing. Hence, these 4 statistics about crypto wallet holders may surprise you.
1. Bitcoin Accounted for Almost Three-Quarters of Transactions At Crypto Casinos In 2023
You can play on an online casino whether it accepts fiat currency or cryptocurrency. However, not all casinos allow you to fund your bankroll with cryptocurrency. The most common entities that do so are crypto casinos.
The overall rise in crypto investing for the past decade has caused a higher prominence of crypto casinos beginning in the early portion of the 2010s. TechReport unveiled that 73.3% of transactions on crypto casinos in 2023 utilized Bitcoin as a bankroll funding resource. Since it’s the first cryptocurrency that originated in blockchain technology in 2009 and has become the most valuable and known, it’s no wonder that almost three-quarters of gambling transactions involve Bitcoin.
2. There Are 560 Million Crypto Investors Worldwide
Triple A Technologies weighed in on a study in May 2024 about how many people worldwide are crypto investors. The worldwide population that owns cryptocurrency investments is close to 6.8%. This equates to 560 million individuals around the globe who hold a crypto wallet as of 2024.
Of those 560 million crypto holders, it was discovered that more males invest in cryptocurrency than females at 61% and 39% respectively. Just over a third (34%) of crypto investors are younger adults aged 25 to 34. Almost two-thirds (65%) of surveyed crypto wallet holders reported they would like to make more daily payments utilizing their crypto investments.
3. About 55% Of Crypto Investors Started Because Of a Family Member or Friend
Forbes conducted a study about the behaviors of crypto investors. It’s prominent that crypto investing has become so widespread by word-of-mouth from family and friends. Of the surveyed crypto investors in this study, 55% started their investment journey because of guidance from a family member or friend in their inner circle.
Hence, newbie crypto investors can follow the teachings of their family or friends who are already invested. They can act as the newbie investors’ mentors when opening a crypto wallet, selecting the cryptocurrencies to invest in, and knowing when to trade. Especially if the novice investor is looking to get into a new hobby or find ways to invest extra money, opening a crypto wallet under the tutelage of their family member or friend can be like a new chapter in their life of whole new beginnings.
4. Hot Wallets Are the Most Popular
As more crypto investors want command of investing no matter where they are, hot wallets have become the most popular tool in this space. An investor can access a hot wallet on any platform including a desktop, mobile device, or laptop. More people worldwide now have a smartphone with data service, which has increased Internet access amongst the masses, contributing to this widespread use of hot wallets.
Despite the convenience of accessing a hot wallet no matter where you are as long as you have an Internet connection, they are not as secure as a cold wallet. These are known as offline wallets that are usually safeguarded with a password only known to the investor. Because they are not connected to the Internet, cold wallets are not as prone to hacking activity as hot wallets, making them a popular alternative to crypto investing.
Lynn Martelli is an editor at Readability. She received her MFA in Creative Writing from Antioch University and has worked as an editor for over 10 years. Lynn has edited a wide variety of books, including fiction, non-fiction, memoirs, and more. In her free time, Lynn enjoys reading, writing, and spending time with her family and friends.
