Cryptocurrency Custody Statistics


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Cryptocurrency Custody Statistics 2023: Facts about Cryptocurrency Custody outlines the context of what’s happening in the tech world.

LLCBuddy editorial team did hours of research, collected all important statistics on Cryptocurrency Custody, and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂

Are you planning to form an LLC? Maybe for educational purposes, business research, or personal curiosity, whatever the reason is – it’s always a good idea to gather more information about tech topics like this.

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Top Cryptocurrency Custody Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 28 Cryptocurrency Custody Statistics on this page 🙂

Cryptocurrency Custody “Latest” Statistics

  • Wikipedia estimates that by 2020, the average cost of a data breach will be $150 million, with a forecasted yearly cost of $2.1 trillion worldwide.[1]
  • 29% of all American parents who are in their millennials, according to a Harris Poll that USA Today published in August 2021, own cryptocurrencies.[2]
  • According to further information from a different poll, 78% of males who replied claimed knowing about bitcoin, compared to 71% of women.[2]
  • Financial experts have forecast that the value of the global blockchain industry would increase by $36.7 billion by 2025, with a compound annual growth rate CAGR of 68.34%.[2]
  • By the end of 2022, statistics from the cryptocurrency exchange Crypto.com predicts that 1 billion individuals will be using cryptocurrency exchanges, including Bitcoin and Ethereum.[2]
  • Early in 2021, the price of bitcoin hit $60,000 before collapsing and losing over 40% of its value in a few of weeks.[2]
  • According to the New York Digital Investment Group, a Bitcoin affiliate of the $11 billion alternative asset management stone ridge, users of bitcoin have subsequently come to think that Satoshi Nakamoto is a pseudonym for an unidentified group or individual.[2]
  • Financial forecasters project the global cryptocurrency market to reach $4.94 billion by 2030, a CAGR of about 12.8%.[2]
  • In September 2020, prepaid gift cards accounted for nearly 26% of all payments made via BitPay, an Atlanta, Georgia based Bitcoin payment service provider.[2]
  • The number of Americans who possess cryptocurrencies increased from over 7.95% in 2018 to 14.4% in 2019 and 23.16% in 2021.[2]
  • 70% of people would consider purchasing cryptocurrencies or more of it if they could keep it in their bank accounts.[2]
  • According to statistics from a worldwide poll conducted by the deVere Group, one of the biggest independent fintech and financial advice firms in the world, 67% of the more than 700 millennials questioned thought that bitcoin was a better safe-haven asset than gold.[2]
  • According to statistics from a poll by the financial website finder, Bitcoin is owned by 66.7% of cryptocurrency investors, while Dogecoin is held by 28.6% of investors and Ethereum is held by 23.9%.[2]
  • More than 20% of those who had never purchased cryptocurrency—roughly 50 million people—said they were likely to do so in the next year.[2]
  • More than 80% of customers of financial advisors want to learn more about bitcoin, even if more than one in five of their clients already hold it.[2]
  • Numbers from the New York Digital Investment Group in 2021 found that about 22% of the US adult population or roughly 46 million Americans — own Bitcoin.[2]
  • According to a study of 2,059 participants that Finder commissioned, the number of Americans who possess Bitcoin has consistently increased over the last few years.[2]
  • According to 24% of poll respondents, one hurdle for novice investors is a lack of knowledge of how cryptocurrencies operate.[2]
  • 70% of deVere’s clientele over the age of 55 either intended to purchase such digital assets in 2021 or had already done so, according to research.[2]
  • There are an estimated 1 million users of Dogecoin and about 132.7 billion in circulation as of January 2023.[2]
  • According to Popper, lost private keys amounted to 20% of the total Bitcoin in the market by January 2021.[3]
  • The World Bank estimates that the market capitalization of all publicly traded domestic enterprises was $68.6 trillion in 2018.[4]
  • According to Block Data, 47 cryptocurrency exchanges have suffered major hacks, in which 19 of them were hacked in 2019 alone.[5]
  • According to PWC, 52% of the 150 active cryptocurrency hedge funds with a combined $2 billion in assets under management in 2020 used an independent custodian.[6]
  • In 2017 in the US alone, 1,579 data breaches were recorded, a 50% growth compared to the previous year.[7]
  • According to Gemini, 45% of all crypto owners in the US, Latin America, and Asia Pacific first bought crypto in 2021.[8]
  • Over 50% of crypto owners in Brazil (51%), Hong Kong (51%), and India (54%) got started in 2021.[8]
  • 47% of women plan to purchase crypto for the first time in the next year.[8]

Also Read

How Useful is Cryptocurrency Custody

One of the key advantages of cryptocurrency custody is security. As digital assets are stored in online wallets, they are vulnerable to hacking and theft. By utilizing cryptocurrency custody services, investors can benefit from enhanced security measures such as encryption, multi-signature authentication, and offline storage solutions. This provides peace of mind, knowing that their assets are protected by industry-leading security protocols.

Moreover, cryptocurrency custody offers convenience for users who may not have the technical know-how to securely store their assets themselves. By outsourcing the storage of their digital assets to a trusted third-party custodian, investors can focus on trading and investing without worrying about the safety of their funds.

Another benefit of cryptocurrency custody is the potential for regulatory compliance. As government regulators start to pay more attention to the cryptocurrency space, having an established custody solution can help investors navigate the complex regulatory landscape. Custodians are required to adhere to stringent regulations, ensuring that assets are held in compliance with industry standards.

Additionally, cryptocurrency custody can facilitate institutional adoption of digital assets. Institutions such as hedge funds, pension funds, and banks are entering the cryptocurrency market, but many are hesitant to do so without proper custody solutions in place. By offering institutional-grade custody services, custodians can attract these larger players and contribute to the maturation of the cryptocurrency market.

On the other hand, some critics argue that cryptocurrency custody goes against the decentralization ethos of blockchain technology. Traditional custodians can have control over users’ private keys, potentially making them a target for hacking or fraud. This centralization of trust may go against the ethos of decentralization that cryptocurrencies aim to achieve.

Despite these concerns, cryptocurrency custody remains an important tool for many investors looking to securely store and manage their digital assets. Custodians continuously evolve their security protocols and adapt to changing regulatory requirements to provide a secure and compliant service to their users.

Ultimately, the usefulness of cryptocurrency custody depends on individual investor needs and preferences. For those looking for enhanced security, regulatory compliance, and institutional-grade solutions, cryptocurrency custody is an invaluable tool. However, for those who prioritize decentralization above all else, traditional custody solutions may not align with their values.

In conclusion, cryptocurrency custody plays a crucial role in the evolving cryptocurrency landscape. As the market continues to mature, custodians will play an essential role in safeguarding digital assets and facilitating institutional adoption. By providing secure storage solutions and regulatory compliance, cryptocurrency custody services offer a valuable service to investors navigating the complex world of digital assets.

Reference

  1. oceanprotocol – https://blog.oceanprotocol.com/data-tokens-1-data-custody-1d0d5ae66d0c
  2. explodingtopics – https://explodingtopics.com/blog/blockchain-stats
  3. micobo – https://micobo.com/digital-custody-custodial-non-custodial-crypto-wallets/
  4. nomics – https://nomics.com/
  5. blockdata – https://www.blockdata.tech/blog/general/crypto-custody-the-gateway-to-institutional-adoption
  6. blockdata – https://www.blockdata.tech/blog/general/digital-asset-custody-in-2021
  7. bnymellon – https://www.bnymellon.com/us/en/insights/all-insights/cryptocurrencies-custody-and-third-party-access.html
  8. gemini – https://www.gemini.com/state-of-crypto

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