12 Cryptocurrency Statistics You Should Know Before Buying That First Coin

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Cryptocurrency or ‘Crypto’ to some. “Bitcoin” is the term that most people think of first when it comes to cryptocurrencies.

Even though there are more than 10,000 kinds of active virtual coins that exist in the cryptocurrency world, you feel like you need to feed your curiosity with this type of investment because there’s an air of novelty and intrigue to it.

These are just a few interesting facts and figures on cryptocurrency that provide a bird’s-eye view, so you’ll be able to build your own opinion on it.

1.) There Are Over 20,000+ Cryptocurrencies In Circulation Worldwide

There are about 20,268 cryptocurrencies that exist in the marketplace as of July 2022. However, only 54% or 10,953 of these cryptocurrencies are active.

The country with the highest ownership and usage of cryptocurrency is Nigeria, with almost half of its population (45%) owning some cryptos, followed by Thailand (44%) and Turkey (40%).

2.) 145 Million Americans Own Cryptocurrency

That’s approximately half of the US adult population in possession of cryptocurrency or have invested in one.

Americans are not just investing in cryptocurrencies for the sake of speculation; 74% claim to have bought their first crypto within the last 2 years. Cryptocurrencies have become a form of payment for 60% of owners, and some US companies have accepted it too.

“Fifty-six percent of American adults, about 145 million people, say they own or have previously owned cryptocurrency.”

fool.com

3.) Major Companies Have Accepted Cryptocurrency

The world of cryptocurrency is still relatively new, and it has yet to be fully understood. But, with the number of major companies that have started accepting cryptocurrency as a form of payment, we might have to see first if this will start a new trend.

Here are some of those companies you may be familiar with:

  • AT&T
  • Paypal
  • Microsoft
  • CheapAir.com
  • Etsy
  • Whole Foods
  • Home Depot
  • Starbucks

“US-based software company MicroStrategy (MSTR) is the world’s biggest publicly traded corporate owner of bitcoin with holdings of about 129,218 BTC, according to its Q1 2022 earnings report.”

capital.com

4.) Majority Of Millennials Buy Cryptocurrency, But Who Are The Big Spenders?

Cryptocurrency is a new and exciting form of currency. It’s no surprise that the majority of buyers are Gen Z individuals aged 18-24, as this age group makes up 94% of all cryptocurrency buyers.

However, the big spenders belong to Generation X, aged 41-56, who buy an average of almost $10,000 a month in cryptocurrency.

5.) The Cheapest Cryptocurrency

Shiba Inu coin (SHIB) is one of the cheapest cryptocurrencies available on the market. The Shiba Inu coin trades at $0.000011 as of September 22, 2022.

The Shiba Inu is not for long-term investments, but many consider it a reliable fun-based meme coin to buy if you have the FOMO (fear of missing out).

6.) Top 5 Reasons Why Americans Own Cryptocurrencies

There are many reasons why Americans buy cryptocurrency, one of which is that it can be used to avoid government oversight. Some buy cryptocurrency because they want an alternative form of currency that isn’t tied to any country’s economy, and they want security when making transactions.

Here are the top 5 reasons:

  • As an investment – 53%
  • Hobbies and Recreation – 40%
  • The belief that standard currencies will be replaced by crypto – 32%
  • Online Payment Security – 31%
  • Freedom from Government control – 31%

7.) The Top 10 Cryptocurrencies By Market Cap

The cryptocurrency market is one of the most interesting and volatile markets in the world. Since 2009, it has grown exponentially and is expected to keep growing. Its total market value as of July 2022 is $940.74 billion.

These are the top ten cryptocurrencies by market capitalization.

  1. Bitcoin – $424 billion
  2. Ethereum – $177 billion
  3. Tether – $65 billion
  4. USD Coin – $45 billion
  5. XRP – $36 billion
  6. Solana – $22 billion
  7. Cardano – $16 billion
  8. Stellar – $12 billion
  9. Avalanche – $9 billion
  10. Polygon – $9 billion

Note: These top ten add up to about 88% of the total cryptocurrency market value of $940.74 billion.

cryptocurrency-statistics-kristoffer-koch-norway

8.) The Most Crypto-Friendly US States

California and Wyoming are forerunners when it comes to opening their doors to cryptocurrency. Along with Texas, these states are conducive to cryptocurrency activities. Whether it be investing, buying, trading, or mining. Here are the top five most crypto-friends states in the US…

  • California
  • Wyoming
  • Texas
  • Florida
  • Colorado

9.) The 5 Best Cryptocurrency Exchanges In The US

US exchanges differ from global exchanges, following a different set of regulatory compliance. When buying and selling cryptocurrencies, a lot of things can influence your decision. Among other considerations, you might need to consider security, integrity, and the availability and fees associated with supported cryptocurrencies.

Here are 5 of the best cryptocurrency exchanges to consider.

  • Coinbase
  • Binance.US
  • CEX.io
  • Gemini
  • Kraken

10.) The Most Crypto-Unfriendly States In The US

From strict cryptocurrency regulation to a near non-existent interest, these US states have made it difficult for cryptocurrency investors to be able to pursue the adoption of cryptocurrencies within their area.

  • New York
  • Hawaii
  • Vermont
  • Alaska
  • West Virginia

11.) In 2022, Cryptocurrencies Lost Due To Hacks Reached $1.9 Billion

Hackers have been affecting the crypto industry for a long time. They steal funds from individual wallets and hack cryptocurrency exchanges where trades take place.

Cryptocurrency crime varies in occurrence, but one thing is for sure: there will always be a certain amount of hacking risk involved when it comes to owning cryptocurrency. More so when hackers see an increase in cryptocurrency prices.

“it is reasonable to estimate that crypto-crime maybe a modest 1.4% to 2% of all activity, or representing $40 billion to $59 billion. There is a possibility that the real figure could be higher than this, but in absence of better data it is at least in line with the estimates in the traditional financial system, if not slightly lower.”

thomsonreuters.com

12.) US Has Biggest Market Share In Crypto Mining

The US has the biggest crypto mining market share in the world. The country accounts for 35.5% of the total global hash rate. The US has over half of the world’s bitcoin mining power, with Kazakhstan (18%) and Russia (11%) coming in second and third, respectively.

13.) Bonus Stat

Thanks for making it all the way through this post to here. Here is just a small bit of trivia before you leave.

A Welshman Seeks The Excavation Of A Landfill To Retrieve Hard Drive Containing Thousands Of Bitcoins

In 2013, Newport IT worker James Howells threw his hard drive in the trash. The hard drive has been sitting in his drawer for years. He had forgotten about the 7,500 bitcoins he had stored inside, which he got for almost nothing in 2009.

Now, he’s lobbying the Newport City Council to grant him access to dig up a landfill the size of a football field in order to look for the hard drive.

He plans to share the stash with his recovery team and investors, as well as local causes for the 150,000 residents of Newport.

cryptocurrency-statistics-james-howells-hard-drive

Alvin Medalla
Alvin Medalla
Alvin is a WordPress wizard and an all-around website ninja. He is the content manager, research specialist, image expert, and statistics aficionado - here on the Dumb Passive Income blog.
Alvin Medalla
Alvin Medalla
Alvin is a WordPress wizard and an all-around website ninja. He is the content manager, research specialist, image expert, and statistics aficionado - here on the Dumb Passive Income blog.