One of the largest and experienced wallets, Blockchain.info, has just reached 4 million users. The fact that the company only reached 2 million users last year makes it even more unbelievable as Bitcoin has taken huge price hits since then. There have been many competitors since then and many hurdles however they have hit their target. The multiple criminal activities and price drops led to many leaving the cryptocurrency however there is still a good end result.
“This is really exciting as it points to a positive trend in bitcoin adoption,”Blockchain quoted.
It defeated its main rival, Coinbase, which is currently at 3.8 million users.
There were many concerns after New York introduced the “Bitlicense”. This led to many of the exchanges based in New York closing down. It was unpopular with many people as only a fraction of exchanges remained. There were many new additions to Bitcoin’s history after the MtGox scandal, the criminal activity and the new technology advances.It had secured $30.5 million in funding in late 2014. This took the interest of many large investors such as Sir Richard Branson, Mosaic Ventures and Prudence Holdings. Blockchain.info commented that it would use the funds to expand its user base and it has shown us just that.
It has the simplest yet most informative website that can inform new users on Bitcoin and can answer any queries they may have before adding the Cryptocurrency to their businesses. Thier expansion has not come as a shock as many entrepreneurs start out with Blockchain wallets. Their ease of access and security put everyone’s minds at rest and show that Bitcoin can be a largely positive influence. It is simple and effective as it dispenses any myths about cryptocurrencies.
The company gained much of its popularity from the fact that it was selected along with other Bitcoin companies to accompany the current United Kingdom prime minister David Cameron in his trade mission. The UK has had a positive approach to the new technology. Hopefully it can continue to grow along with the Bitcoin community during the highs and the lows. Bitcoin has had a bumpy past but hopefully we can change the future to something better with beneficial companies like Blockchain.info.