{"id":29196,"date":"2020-09-25T14:46:32","date_gmt":"2020-09-25T11:46:32","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=29196"},"modified":"2025-08-27T15:38:40","modified_gmt":"2025-08-27T12:38:40","slug":"cambridge-university-tallies-100-million-cryptocurrency-users-worldwide","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/cambridge-university-tallies-100-million-cryptocurrency-users-worldwide\/","title":{"rendered":"Cambridge University tallies 100 million cryptocurrency users worldwide"},"content":{"rendered":"<p>The number of cryptocurrency users worldwide over the past two years has almost tripled\u2014from 35 million to 101 million people. The figures are from a market report on digital currencies prepared by researchers at Cambridge Judge Business School.<!--more--><\/p>\n<p>The survey included 280 companies from 59 countries, including cryptocurrency exchanges, payments firms, custody services and mining pools.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">The 3rd Global <a href=\"https:\/\/twitter.com\/hashtag\/Cryptoasset?src=hash&#038;ref_src=twsrc%5Etfw\">#Cryptoasset<\/a> Benchmarking study, supported by <a href=\"https:\/\/twitter.com\/INVESCO?ref_src=twsrc%5Etfw\">@Invesco<\/a>, is live! Reveals greater compliance with AML\/CFT obligations globally, but highlights insurance as the next elephant-in-the-room. Download a copy at <a href=\"https:\/\/t.co\/GgXIRtw7dv\">https:\/\/t.co\/GgXIRtw7dv<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/cryptoassets?src=hash&#038;ref_src=twsrc%5Etfw\">#cryptoassets<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/mining?src=hash&#038;ref_src=twsrc%5Etfw\">#mining<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#bitcoin<\/a> <a href=\"https:\/\/t.co\/cU789HnZ3X\">pic.twitter.com\/cU789HnZ3X<\/a><\/p>\n<p>\u2014 CambridgeAltFin CJBS <a href=\"https:\/\/twitter.com\/CambridgeAltFin\/status\/1309082642063781888?ref_src=twsrc%5Etfw\">September 24, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Analysts estimate that in Q3 2020 the number of accounts on centralized Bitcoin exchanges reached 191 million. Non-custodial wallets were not included in these calculations.<\/p>\n<div id=\\\"attachment_111273\\\" style=\\\"width: 456px\\\" class=\\\"wp-caption aligncenter\\\"><img loading=\\\"lazy\\\" decoding=\\\"async\\\" aria-describedby=\\\"caption-attachment-111273\\\" class=\\\"size-full wp-image-111273\\\" src=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/1-316.png\\\" alt=\\\"Cambridge University tallies 100 million cryptocurrency users worldwide\\\" width=\\\"446\\\" height=\\\"329\\\" srcset=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/1-316.png 446w, https:\/\/u1f987.com\/wp-content\/uploads\/1-316-300x221.png 300w\\\" sizes=\\\"auto, (max-width: 446px) 100vw, 446px\\\" \/><\/p>\n<p id=\\\"caption-attachment-111273\\\" class=\\\"wp-caption-text\\\">Dynamics of open accounts on Bitcoin exchanges and cryptocurrency users. Data: Cambridge University.<\/p>\n<\/div>\n<blockquote>\n<p>\u201cThe growth in the number of users by 189% is explained both by a rise of 37% in open accounts and by an increase in the share of cryptocurrency investors who hold multiple accounts,\u201d the analysts write.<\/p>\n<\/blockquote>\n<p>In North America, 30% of the audience consists of institutional and corporate clients, while in Asia and Latin America their shares are 16% and 10%, respectively.<\/p>\n<div id=\\\"attachment_111274\\\" style=\\\"width: 610px\\\" class=\\\"wp-caption aligncenter\\\"><img loading=\\\"lazy\\\" decoding=\\\"async\\\" aria-describedby=\\\"caption-attachment-111274\\\" class=\\\"size-full wp-image-111274\\\" src=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/2-312.png\\\" alt=\\\"Cambridge University tallies 100 million cryptocurrency users worldwide\\\" width=\\\"600\\\" height=\\\"218\\\" srcset=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/2-312.png 600w, https:\/\/u1f987.com\/wp-content\/uploads\/2-312-300x109.png 300w\\\" sizes=\\\"auto, (max-width: 600px) 100vw, 600px\\\" \/><\/p>\n<p id=\\\"caption-attachment-111274\\\" class=\\\"wp-caption-text\\\">Structure of cryptocurrency users by region. Data: Cambridge University.<\/p>\n<\/div>\n<p>Seven in ten crypto service providers store customer assets in cold storage. Eighty-one percent use multi-sig for cold wallets and seventy percent for hot wallets. Forty-six percent of service providers do not insure their risks.<\/p>\n<div id=\\\"attachment_111275\\\" style=\\\"width: 612px\\\" class=\\\"wp-caption aligncenter\\\"><img loading=\\\"lazy\\\" decoding=\\\"async\\\" aria-describedby=\\\"caption-attachment-111275\\\" class=\\\"size-full wp-image-111275\\\" src=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/3-183.png\\\" alt=\\\"Cambridge University tallies 100 million cryptocurrency users worldwide\\\" width=\\\"602\\\" height=\\\"128\\\" srcset=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/3-183.png 602w, https:\/\/u1f987.com\/wp-content\/uploads\/3-183-300x64.png 300w\\\" sizes=\\\"auto, (max-width: 602px) 100vw, 602px\\\" \/><\/p>\n<p id=\\\"caption-attachment-111275\\\" class=\\\"wp-caption-text\\\">Structure of crypto-asset service providers by KYC checks. Data: Cambridge University.<\/p>\n<\/div>\n<div id=\\\"attachment_111276\\\" style=\\\"width: 614px\\\" class=\\\"wp-caption aligncenter\\\"><img loading=\\\"lazy\\\" decoding=\\\"async\\\" aria-describedby=\\\"caption-attachment-111276\\\" class=\\\"size-full wp-image-111276\\\" src=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/4-111.png\\\" alt=\\\"Cambridge University tallies 100 million cryptocurrency users worldwide\\\" width=\\\"604\\\" height=\\\"424\\\" srcset=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/4-111.png 604w, https:\/\/u1f987.com\/wp-content\/uploads\/4-111-300x211.png 300w\\\" sizes=\\\"auto, (max-width: 604px) 100vw, 604px\\\" \/><\/p>\n<p id=\\\"caption-attachment-111276\\\" class=\\\"wp-caption-text\\\">Dynamics of available cryptocurrencies among service providers in the digital-asset space. Data: Cambridge University.<\/p>\n<\/div>\n<p>In terms of volume and number of transactions, conversions from fiat to crypto and back still dominate (65% and 63%, respectively). Analysts see this as evidence that engagement with cryptocurrencies largely occurs through Bitcoin exchanges.<\/p>\n<div id=\\\"attachment_111277\\\" style=\\\"width: 611px\\\" class=\\\"wp-caption aligncenter\\\"><img loading=\\\"lazy\\\" decoding=\\\"async\\\" aria-describedby=\\\"caption-attachment-111277\\\" class=\\\"size-full wp-image-111277\\\" src=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/5-71.png\\\" alt=\\\"Cambridge University tallies 100 million cryptocurrency users worldwide\\\" width=\\\"601\\\" height=\\\"135\\\" srcset=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/5-71.png 601w, https:\/\/u1f987.com\/wp-content\/uploads\/5-71-300x67.png 300w\\\" sizes=\\\"auto, (max-width: 601px) 100vw, 601px\\\" \/><\/p>\n<p id=\\\"caption-attachment-111277\\\" class=\\\"wp-caption-text\\\">Structure of transactions with crypto-asset service providers. Data: Cambridge University.<\/p>\n<\/div>\n<div id=\\\"attachment_111278\\\" style=\\\"width: 610px\\\" class=\\\"wp-caption aligncenter\\\"><img loading=\\\"lazy\\\" decoding=\\\"async\\\" aria-describedby=\\\"caption-attachment-111278\\\" class=\\\"size-full wp-image-111278\\\" src=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/6-52.png\\\" alt=\\\"Cambridge University tallies 100 million cryptocurrency users worldwide\\\" width=\\\"600\\\" height=\\\"221\\\" srcset=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/6-52.png 600w, https:\/\/u1f987.com\/wp-content\/uploads\/6-52-300x111.png 300w\\\" sizes=\\\"auto, (max-width: 600px) 100vw, 600px\\\" \/><\/p>\n<p id=\\\"caption-attachment-111278\\\" class=\\\"wp-caption-text\\\">Dynamics of available cryptocurrencies among service providers in the digital-asset space. Data: Cambridge University.<\/p>\n<\/div>\n<p>Back in August, Jump Capital analysts <a href=\"https:\/\/u1f987.com\/en\/news\/study-finds-india-indonesia-and-mexico-the-most-promising-countries-for-cryptocurrencies\">named<\/a> India, Indonesia and Mexico as the most promising countries for cryptocurrencies. Earlier Arcane Research analysts highlighted this in relation to Africa.<\/p>\n<p>Follow ForkLog news on VK at <a href=\\\"https:\/\/vk.com\/forklogcom\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">VK<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The number of cryptocurrency users worldwide over the past two years has almost tripled\u2014from 35 million to 101 million people. The figures are from a market report on digital currencies prepared by researchers at Cambridge Judge Business School.<\/p>\n","protected":false},"author":1,"featured_media":29197,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1269,167],"class_list":["post-29196","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrencies","tag-research"],"aioseo_notices":[],"amp_enabled":true,"views":"39","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/29196","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=29196"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/29196\/revisions"}],"predecessor-version":[{"id":29198,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/29196\/revisions\/29198"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/29197"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=29196"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=29196"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=29196"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}