Crypto payment growth set to expand as usage figures soar

New research from Insider Intelligence has found that the number of crypto owners in the US alone will surpass 30 million this year.

Meanwhile, the total cryptocurrency transaction value globally will boom 70% to go past $10 billion.

“It is easier now to invest in cryptocurrency than ever before,” Insider Intelligence forecasting analyst says Nazmul Islam said.

“In 2021, cryptos became easier to purchase within apps consumers were already using, and while major financial institutions embraced crypto investments.

“Add hype surrounding meme stocks like Dogecoin to this easier accessibility, and you have a huge spike in ownership rates.”

“Younger investors have a genuine positive outlook on blockchain technology and are buying crypto to hold for a while, expecting prices to continue increasing in the long run,” says Islam.

“Older investors will be more risk averse and leery of the volatile crypto market. Although, they are increasingly starting to invest in crypto as more retirement funds offer it as an option.”

Bitcoin is the most popular crypto in the US, with 25.2 million owners this year, up 16.7% over last year.

Three-quarters of crypto owners will have Bitcoin in their portfolios this year. But the currency’s share of the market will decline to 70.6% next year as rivals grow in popularity.

Meanwhile, the second largest coin, Ethereum, will have 13.1 million owners in the US this year, a gain of 26.8% over last year.

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