The number of verified crypto users almost doubled in 2018 according to Cambridge study

posted 6 months ago
The number of verified users of cryptocurrencies almost doubled in the first three quarters of 2018, even as the market declined almost 80%, according to a study from the Cambridge Centre for Alternative Finance. Users climbed from 18 million to 35 million this year. If user numbers continue to increase even in a deep market downturn, that could signal that an eventual recovery could be coming -- a crucial finding.

The authors of the study said "Conforming with popular narratives, survey data indicates that the majority of users – both established as well as new entrants – are individuals and not business clients. Individuals can be hobbyists, retail investors, consumers, or users seeking a better investment or payment alternative. Growth rates were at their highest in 2017, and the number of new user accounts as well as ID-verified users continued to rapidly grow in 2018 as well.”
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