UK-based cryptocurrency services and wallet provider Blockchain has announced that it has reached over 25 million wallets this week. This figure almost doubles that of Coinbase who currently possesses a total of 13 million registered users, as of November 2017. The company’s astounding growth has been largely due to its venture into the United States, where it has made available all of its Bitcoin-related services to the public.

25 Million Cryptocurrency Wallets

While this is an undeniable feat for the UK startup, the numbers may be somewhat exaggerated, at least according to BitcoinPrivacy a company that analyzes and supports Bitcoin address anonymity and numbers. They say that 25 million wallets exceed the number of Bitcoin wallets that contain positive balances. Furthermore, they claim that many individuals may hold multiple wallets on the site.

This also implies that it’s probable that many of the company’s wallets are empty or that users are holding their currency in another asset class such as Ether. Whatever may be the case, 25 million registered wallets clearly demonstrates a growing interest towards cryptocurrency.

In fact, the 25 Million figure not only outstrips Coinbase but also the total customer base of Charles Schwab and TD Ameritrade combined.

Not Everyone is a Fan of Blockchain

As with everything in the cryptoverse, there are always people for and against any issue affecting investors directly. For example, many critics have recently been vocal about Blockchain’s slow adoption of SegWit, Bitcoin’s scaling solution.

On the flipside, supporting the SegWit2x hard fork has also not been well received by everyone. Yet, the company is committed to long-term growth and has been spending its funds (a total of $70 million) wisely.

Growing Rapidly But Sensibly

Hiring Facebook and Google veteran Peter Wilson as VP of Engineering as well as putting together a solid team of executives from the likes of Goldman Sachs and Bank of America, has shown the company’s commitment to working with financial institutions.

Blockchain UK has also come a long way since suffering a DNS attack in 2016 when the company was forced to take customer wallets offline for several hours.

How many of these 25 million wallets contain positive balances may be unclear but whatever be the case, reaching this kind of a customer tally is certainly a cause for celebration.


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