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Monday 20 November 2017
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Two Million Users Can’t Be Wrong… Can They?

Blockchain.info hit a huge milestone early this week—two million users have created two million ‘My Wallet’ wallets… well, two million wallets were created, no way to know how many actual users that totals.

Here’s to Two Million #Blockchain wallets, millions more, & putting #bitcoin in everyone’s hands! https://blockchain.info/charts/my-wallet-n-users

[tweet from @blockchain]

Blockchain’s ‘My Wallet’ numbers have doubled since January—and whether it amounts to two million users or not, two million wallets is no small feat. Can the meteoric rise in users be attributed to the company’s successes, or is it simply due to the rising interest in Bitcoin, pushing a trend?

They’ve got a clean, clear, easy to read UI, they recently acquired rights to the domain bitcoin.com, they revised their Android wallet, and—after Apple did a one-eighty on Bitcoin wallets in July—they re-released their Apple wallet app, which has been downloaded more than 40,000 times since.

Two million wallets should not be confused with two million users

The increase in wallets isn’t reflected in volume of transactions or transactions per day. It’s possible that a percentage of existing (not new) users are creating numerous wallets for one reason or another, lost password, different usage, different coins, Bitcoin mixing, and the increase in number of wallets doesn’t reflect the kind of widespread adoption that, on the surface, it appears to.

Blockchain.info has a good selection of charts showing the number of users [wallets], number of transactions per wallet, and the volume of My Wallet transactions overall. We’ll let you decide, but either way, it’s a milestone for both the company and its wallet, and for crypto currency in general.

Overall Transaction Volume
Chart showing volume consistency, aside from a few spikes

My Wallet Number of Transactions per Day
Chart showing slow but steady increase in volume

Number of My Wallet Users (wallets)
Chart showing an astounding increase of number of Bockchain.info My Wallet wallets

Vanessa King

Vanessa's design career began in Los Angeles in 1989. In 1995, she expanded into web development. From both a design and a technology perspective, she's fascinated by Bitcoin and its possibilities. She finds the possibilities of crypto currency socio-economically fascinating, and envisions a world where we have more control over our income and more of a say in where it ends up.

  • We just created 15 wallets this week at blockchain.info to test our autonomy integration with them. We think for bitcoin they are pretty good, but they, in the end are pretty centralized. If you dont make a backup and they go down its bye bye funds. We try to integrate with personal owned wallets that users themselves own (even on their local desktops). I think that its a matter of choice in the end.