19.02.2023 21:37

How Many Cryptocurrency Users Are Freelancing

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To begin with, let's answer the main question - how many cryptocurrency users?

There are many estimates of the number of cryptocurrency users, both from interested companies and from fairly reputable agencies.

In fact, we have some consensus that at the end of 2022 there were over 320 million cryptocurrency users worldwide. For comparison, in 2020 there were 101 million, that is, 217% less.

This is the average temperature in the hospital. This statistic includes everyone who made at least one transaction and left at least one token in their wallet or on their exchange wallet.

Sounds impressive both in terms of user numbers and growth dynamics, right?

Yes, this is true, but in our opinion, such statistics on the number of cryptocurrency users are insincere.

No one is interested in how many users have ever touched crypto, we want to know how many real people actually use cryptocurrencies and how many there will be, for example, in a year?

Let's assume without prejudice that there are 10 times fewer real users of cryptocurrencies. Why at 10 you ask, why not at 5 or twice?

We do this on purpose in order to understand for ourselves the real state of affairs.

First of all, we do not want to be deceived ourselves, and the purpose of this article is to answer the question: how many real users of cryptocurrencies are freelancing?

So, if we divide 320 million by 10, we get 32 million real cryptocurrency users.

What is this numbers? What is this for?

You might think that we are just arbitrarily taking this figure of 32 million cryptocurrency users, but you will definitely agree with us that it certainly cannot be less.

We removed all dormant and casual, inactive and simply non-existent crypto holders, eliminated potential fraud and stakeholder overestimation, and used the most conservative estimate of the number of crypto users to show the growth potential of crypto freelancing.

So, 32 million cryptocurrency users are real people that we are interested in to answer the question from the title of the article, how many of these people are freelancing.

Further, everything is simple, since the freelance market is a fairly developed area and there is plenty of authoritative information.

There is also a consensus here that freelancers make up approximately 35% of the total workforce worldwide. We extrapolate the figure of 35% to the total number of cryptocurrency users of 32 million and get the final figure that we are interested in.

At the end of 2022, only 11 million people were actually freelancers as well as cryptocurrency users.

The resulting data of 32 million active crypto users, of which 11 million are freelancers, gives an idea and, again, a conservative forecast of how many there will be at the end of 2023.

To predict how many crypto freelancers there will be at the end of 2023, there are two main factors: the first is the growth in the number of cryptocurrency users and the growth in the share of freelancers in the total workforce worldwide.

The growth in the number of cryptocurrency users in recent years is impressive, we have no doubt that it will continue to be the same. But, to be honest, let's take note that over time, the percentage of growth always slows down.

That is why, and based on the fact that no one can predict the future, let's take the growth in the number of users of cryptocurrencies, for example, at the level of the Fed's target interest rate, approximately 5%.

You will say that this cannot be, there used to be hundreds of percent growth, and now it is only 5%.

Yes, you are right, but we are not oracles and do not know what will happen tomorrow, and if the growth is higher, then you will appreciate the new emerging industry - the crypto-freelance market.

And now we fix the second factor that affects the forecast for the number of crypto freelancers at the end of 2023.

The pandemic and digitalization have destroyed the labor market, which is why we have 35% of freelancers in the total workforce worldwide.

We will adopt a conservative forecast for this share to grow to 40% by the end of 2023.

In total we get:

  • by the end of 2023, the number of cryptocurrency users will be at least 35 million people;
  • the number of crypto-freelancers will be at least 14 million people.

We want to clarify once again that we took the most conservative scenario for the development of two industries: the cryptocurrency industry and the freelance industry.

This article does not take into account many factors that can change this forecast, one thing can be said with certainty that in any case it will not be lower than the figures obtained, but how many orders of magnitude higher - we will be able to verify this with you. . at the end of 2023.

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