The Cambridge Center for Alternative Finance at the University of Cambridge, UK states that currently, there are 101 million users of Bitcoin Cs (crypto asset) globally. That figure is up 189 percent compared to 2018, namely 35 million “unique users”. Users from institutional circles are still small.
This is stated in the 71-page “3rd Global Cryptoasset Benchmarking Study” survey report. The survey was held in March-May 2020 and the report was published a few days ago. The majority of respondents are from the Asia Pacific and European regions.
“In 2018, based on the first edition survey, the number of crypto asset users globally reached 35 million. The amount is based on verified user identities on a number of crypto asset exchanges and similar service providers. Meanwhile, in the third survey, the number of users reached 101 million on 191 million accounts, "said Cambridge in the report.
According to them, the 189 percent increase in users was based on an increase in the number of accounts (an increase of 37 percent), as well as a larger share of accounts
linked systematically to individual identity.
"This is our minimum estimate based on the number of user identities in each service," he said.
Cambridge also said that crypto asset exchanges based in Asia Pacific are more often used for trading, compared to other regions.
"Crypto asset exchanges based in Asia Pacific occupy the highest position in terms of trading based on the order data, reaching 40 percent," said Cambridge.
Still Small Institutions
Meanwhile, based on user origin categories, there are not too many institutional / institutional categories. Retail users still dominate, similar to the increase in 2017.
"This shows that although the interest from institutions has grown, it has not materialized in terms of increasing users including purchases," said Cambridge.
From the Asia Pacific region, for example, retail users dominate up to 75 percent. Meanwhile, from the institutional circle only 16 percent.
The largest portions of retail users from all regions are from Latin America and the Caribbean, at 82 percent. Meanwhile, the largest users of institutions come from North America, which reaches 30 percent, including from Europe.
