Ultimate Bitcoin Buying Statistics 2019

In this article, we will explore key statistics, data & facts when it comes to buying Bitcoin over the last few years, along with some key legality trends.

Usage & Volume – Buying Trends for Bitcoin

Amount of Bitcoin traded
It may come as a surprise to see that the volume of BTC traded decreased throughout 2017. Typically, 2017 is seen as the boom year for Bitcoin, as prices skyrocketed. However, this is exactly why the volume of BTC decreased – because one bitcoin suddenly was worth so much more, it makes sense that fewer in total would be traded, despite the increased interest from buyers.

This is clearly illustrated by the second graph showing how the USD value of traded Bitcoin did indeed skyrocket in the final months of 2017.

 

Interactive heat map
The World map below shows where Bitcoin has been declared legal or illegal throughout the World.

The politics of bitcoin can be very complicated. In fact, many countries have seemingly contradictory policies when it comes to Bitcoin. Furthermore, this is a rapidly evolving field, where opinions can quickly change.

In the long run, as Bitcoin and other cryptos become more and more established, it is likely that more countries on this heatmap will turn green. As cryptocurrencies become more and more widely adopted, skeptical governments will presumably warm to the idea and relax legal issues around cryptocurrencies. 

 

How has the popularity of certain exchanges changed?
We can see some key insights into this question below.

The data shows how the popularity of particular exchanges have shifted over the past few years as the cryptocurrency industry has grown and matured.

It may come as a surprise to see that trading volume was far higher in 2016 than any other year. Bitcoin’s bull run in 2017 catapulted it into the public eye and piqued a lot of investors’ interests – so you may have expected 2017 to have seen the highest volume of trading of Bitcoin. However, it is important to remember that this data covers the volume of bitcoin traded. So, as bitcoin’s value exploded it meant that far fewer bitcoins were being traded (because a single bitcoin was now so valuable that the number of dollars needed to buy just one limited overall trading volume).

Also, it is worth pointing out that a huge chunk of the volume in 2016 is coming from China, where bitcoin mining is very popular. However, changes in the legality of bitcoin within China may also have contributed to the drop off in exchange volume after 2016. As of September 2017, the Chinese government began enforcing a comprehensive ban on trading any cryptocurrency. This surely will have impacted global bitcoin trading volumes.

Daily Bitcoin Transaction Amounts
One of the major barriers to mass adoption of cryptocurrencies is the amount of transactions crypto networks can handle. Bitcoin is severely limited by the number of transactions that it can handle, this is known as the scalability problem. At the current level of adoption, this is not a problem. However, if Bitcoin is to challenge the likes of Paypal and Visa, it’s transaction speeds will need to be massively improved.   

The Bitcoin Richlist
Here’s how the numbers stack up for the very wealthiest Bitcoin owners.

We can clearly see that some very wealthy individuals still have faith in Bitcoin as a store of value, and the data below shows us the level of distribution across Bitcoin’s biggest backers.

Bitcoin Volume By Country
There are many interesting patterns to note here in terms of the regional variation in Bitcoin trading. Some of the overarching trends are:

  • As we have seen elsewhere in the data, 2017 was a bumper year for Bitcoin across the globe, with the price skyrocketing and the USD value of transactions going through the roof.
  • 2016 saw the greatest volume of BTC traded. Presumably, this is due to lower prices meaning larger amounts of BTC were attainable.
  • These heatmaps illustrate quite clearly the way in which the Chinese government’s hostility towards Bitcoin has led to a steady decline in its traded volume within the country. In 2016, China was rivaling Russia and the US in the volume of Bitcoin traded. By 2018, it is nowhere near Russian or American trade volumes.
  • Unfortunately, as the data is currency based, it is tricky to learn too much about how European countries compare when it comes to Bitcoin. However, it is interesting to note that across all three years, more Bitcoin has been traded in the UK than across the entire Euro-zone.

DISCLAIMER: Be aware that the activity of cryptoassets mentioned in this article is unregulated. This article must not be construed as investment advice. Always do your own research.

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