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.

How much of an impact will Cryptocurrency Custody Statistics have on your day-to-day? or the day-to-day of your LLC Business? How much does it matter directly or indirectly? You should get answers to all your questions here.

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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

The usefulness of cryptocurrency custody cannot be overstated, especially in a landscape where cyber threats and hacking attempts are rampant. Many individuals who invest in cryptocurrencies may not have the technical know-how or resources to safely store their assets. That’s where cryptocurrency custodians come in, providing a secure and reliable option for those looking to safeguard their digital wealth.

Furthermore, cryptocurrency custody can also be beneficial for institutional investors who are subject to strict regulatory requirements. By using a reputable custodian, these investors can ensure that their digital assets are held in accordance with industry best practices and compliance standards. This can also help to legitimize the cryptocurrency market as a whole, making it more attractive to traditional investors who may have been wary of the unregulated nature of digital currencies.

Another key benefit of cryptocurrency custody is the added layer of protection it offers against theft and fraud. With high-profile hacks and thefts happening regularly in the cryptocurrency space, having a trusted custodian to securely hold assets can provide peace of mind to investors. Additionally, custodians often offer insurance policies to protect against losses, further reducing the risk of investing in digital currencies.

On the flip side, some critics argue that entrusting a third party with your digital assets goes against the ethos of cryptocurrencies, which are supposed to be decentralized and give individuals full control over their finances. While this is a valid concern, the reality is that many investors simply do not have the knowledge or resources to securely manage their own cryptocurrency holdings. In these cases, utilizing a reputable custodian can be a practical solution to ensure the safety and security of their investments.

In conclusion, cryptocurrency custody plays a crucial role in the digital asset ecosystem, providing investors with a secure and reliable option for storing their digital wealth. While it may go against the decentralized nature of cryptocurrencies, the benefits of using a custodian far outweigh the risks for many investors. As the cryptocurrency market continues to grow and evolve, the importance of secure storage solutions will only become more apparent. Whether you’re an individual investor or an institutional player, cryptocurrency custody should not be overlooked as a valuable tool in managing your 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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