The cryptocurrency industry has seen significant growth in recent years, with more and more people looking to invest in digital assets. As a result, the number of people trading crypto has increased significantly. In this article, we will explore how many people are trading crypto and what factors are driving this growth.
How Many People Are Trading Crypto?
It is difficult to determine exactly how many people are trading crypto, as there is no central repository of data on cryptocurrency trading. However, several surveys and studies have provided some insight into the number of people trading crypto.
According to a survey conducted by the Cambridge Centre for Alternative Finance, there were approximately 101 million cryptocurrency users worldwide in 2020. This represents a significant increase from the estimated 35 million users in 2018.
Another survey conducted by Gemini, a cryptocurrency exchange, found that 14% of the US population, or approximately 21.2 million people, owned cryptocurrency in 2021.
Factors Driving the Growth of Crypto Trading
Several factors are driving the growth of crypto trading, including:
Increased Awareness and Adoption
As more people become aware of cryptocurrencies and their potential benefits, the number of people trading crypto is likely to increase. Additionally, as more merchants and businesses begin accepting cryptocurrencies as payment, the adoption of crypto is likely to increase.
Investment Opportunities
Many people are attracted to crypto trading as a way to invest in digital assets and potentially earn significant returns. The volatility of the cryptocurrency market provides both risks and rewards, making it an attractive option for many investors.
Decentralization and Privacy
The decentralized and trustless nature of cryptocurrencies provides users with greater privacy and control over their assets. This is particularly attractive to people who are concerned about privacy and security in traditional financial systems.
Conclusion
While it is difficult to determine exactly how many people are trading crypto, it is clear that the number is increasing. Factors such as increased awareness and adoption, investment opportunities, and decentralization and privacy are driving this growth. As the cryptocurrency industry continues to evolve and mature, it is likely that more and more people will begin trading crypto and exploring the potential benefits of digital assets.