Statista, a company that publishes market and consumer data on a quarterly level every three years, has released a report on the number of cryptocurrency wallets worldwide.
The number has jumped in the last three years from 6.7 million, the figure from Q1 2016, to the current quarter in Q1 2019 that sits at 34.6 million. There has been a constant increase every quarter, with particular jumps in Q4 2017 and Q1 2019.
The highest peaks came at the times that most people would predict, even with a cursory knowledge of the cryptocurrency landscape. These were the last month of Q1, where 2 million new wallets were created and in Q4 of 2017 when the number of wallets jumped by about 2.5 million.
The total number of wallet users at the end of April 2019 was measured as 36.6 million according to calculations done by Blockchain.com and their estimation the number was only 5800 at the end of April 2012. This shows that despite the numerous setbacks that cryptocurrency has faced in the last seven years, the number of active users has increased dramatically along the way.
Choosing A Good Wallet Is Important
Anyone who wants tog et involved in cryptocurrency in any way needs to get themselves a good cryptocurrency wallet. It is the means by which you store your coins, but it also acts as the method by which you receive payment and pay others. Where you place your priorities will help you decide what type of wallet you will be using.
Hardware wallets, for instance, offer greater security. Trezor and Ledger are two great examples of hardware wallets. There are also desktop wallets such as Jaxx and Exodus that can be looked at if you want a less secure option.
The lest secure option would be an online wallet such as the option offered by Coinpayments. Mobile wallets have also come far along since the dawn of crypto and there are a number of them that are available. One of the more popular mobile wallets is Edge and its popularity is well earned.
Blockchain.com also offers a relatively safe and popular wallet. All the wallets mentioned so far support multiple currencies. However, if you are prioritizing a light wallet, that does not use up too many resources but is available on various different platforms, then the Bitcoin.com Wallet might be your cup of tea.
It is available on Windows, Mac, and Linux and is an open-source wallet that supports both Bitcoin (BTC) and Bitcoin Cash (BCH). Their wallet allows you to store and buy both the cryptocurrencies mentioned before.
Sending and receiving the two is also possible with this featherweight wallet. It’s great because it allows users to buy Bitcoin directly with a credit card, something that is only usually offered when you keep your wallet with a third party. It is available to people in the US, the UK and the European Union.
There is one more perk of using the Bitcoin.com Wallet and that is because it is a non-custodial wallet. That simply means you are in control of your funds 100%. In the last two years, over 4 million people have started using the Bitcoin.com Wallet which means that 2 million people every year trust their cryptocurrency with this platform.
There is also a built-in wallet with the Opera browser for Android. While it might not be the safest bet you’ll make, it could be a great little tool to have if you already use Opera. It might even tempt some to move to Opera. It all depends on how you feel about a mobile wallet that is front and center when you’re browsing.
Many in the information security industry would balk at using a wallet that is baked into a browser as browsers are the front line for any malware attacks. However, it could be that they will start a trend with other browsers following suit.
Cash Account Protocol Becoming Popular
There is a new protocol and it is slowly being adopted by more and more wallet apps, particularly mobile ones. The latest to adopt the Cash Account protocol is a new open source wallet called Crescent Cash.
It facilitates the sending and receiving of Bitcoin Cash to a specific username, rather than a complicated alphanumeric address. The key feature, however, is that Cresent Cash will support Cash Accounts by default. You don’t need to fiddle about with settings. It will be set up as soon as you install the wallet.