Blockchain Passes 2 Million Bitcoin Wallets

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The company tweeted the latest milestone late Sunday night, cementing its position as the worlds most popularbitcoin wallet provider.

Aug 11, 2014 at 12:21 UTC Updated Dec 10, 2014 at 15:10 UTC

Back in January 2013, Blockchain boasted more than 100,000 wallet users. The 500,000th wallet was created in late October and the companyrewarded the lucky userof its 500,000th wallet with 10 BTC.

There is, however, an important caveat. A significant number of downloaded and installed wallets does not necessarily translate into active bitcoin users.

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Indeed, the company has witnessed rapid expansion in recent months.

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Blockchain told CoinDesk that it is currently handling tens of thousands of transactions every day. An estimated $22bn in bitcoin transactions were made using Blockchain software so far.

Being the first bitcoin company to reach two million wallets is an exceptional honour […] The endorsement of the now millions of bitcoiners who have chosen to use our wallet is a distinction that truly humbles us as a team.

Smith pointed out that downloads exploded in July, after its iOS wallet was re-launched and made available on the Apple App Store. Earlier this summer, the company also updated its Android wallet with a number of merchant-friendly features.

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Blockchain Passes 2 Million Bitcoin Wallets

Wallets are frequently downloaded by people with a casual interest in bitcoin, which means a large number are inactive or chartsshed more light on bitcoin user statistics, but it is still difficult to say how many truly active wallets are out there and how many have been abandoned.

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Blockchainpassed the one million markin January 2014 and by April it had about 1.5 million wallets. In other words, the organisation has doubled its wallet downloads in roughly six months.

Blockchain now has over two million bitcoin wallets in the wild, having added roughly one million over the last six months alone.

Bitcoin wallet provider MultiBit alsopassed the one million markin March 2014. However, MultiBit cautioned that the statistics were not complete, as data on early adopter downloads dating back to 2011 was lost.

Smith added that strong growth coupled with price stability is an indicator that the industry is moving towards a transactions paradigm.

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Heres to Two MillionBlockchainwallets, millions more, & puttingbitcoinin everyones hands!

Blockchain is not the only bitcoin company to boast such figures. Back in February, San Francisco-based wallet provider and payments processorCoinbaseentered six-digit territory and announced that it hadmore than a million wallets. The company had started with just 13,000 wallets in early 2013.

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