Bitcoin wallet provider Blockchain.info has revealed that its user base has hit the four-million mark, in what could be considered an encouraging sign of the rate of adoption of the leading cryptocurrency despite its challenges and controversies.
This revelation was made recently by Blockchain.info, which is considered one of the pioneer bitcoin wallet providers. The milestone is quite impressive given that it was just last year that the number of users making use of the company’s services hit the two-million mark. The number of Blockchain.info users essentially doubled within a period of just about a year.
“This is really exciting as it points to a positive trend in bitcoin adoption,” Blockchain.info stated, according to cryptocurrency news service NewsBTC.
In addition to provision of bitcoin wallet service, Blockchain.info is popular for a blockchain explorer that it provides. The cryptocurrency wallet provider also supplies charts on diverse aspects of the Bitcoin ecosystem.
Anyone familiar with the trend in the Bitcoin industry will know that it has had its ups and downs in the past year or thereabout. These challenges included significant drop in prices and cases of hacking that are potentially capable of lowering interest in the cryptocurrency. From this background, therefore, it is no mean feat that Blockchain.info has been able to grow its user base to four million.
Competition is a bit fierce for the Bitcoin wallet provider, but this has not done much to douse its appeal to a good number of users. Blockchain.info has not only managed to keep most of its existing accounts, it has also outdone many of its rivals in terms of growth. For comparison’s sake, rival Bitcoin wallet provider Coinbase currently boasts of a slightly lower user base of about 3.8 million.
Blockchain.info was one of several Bitcoin companies that were chosen to accompany British Prime Minister David Cameron on a trade mission to Asia. That selection significantly helped to boost the popularity of the Bitcoin wallet provider further. The UK government is known to be in support of cryptocurrency developments. It had reportedly issued a call to information about digital currencies and generated responses from several leading institutions and respected professionals.
The pioneer Bitcoin wallet provider was able to secure around $3.8 million in new funding last October with the aim of preventing slowdown in innovation as well as addressing technical issues in the software. Prominent investors backing Blockchain.info, which describes itself on its about webpage as “the strongest and most trusted brand in bitcoin these days,” include Lightspeed Venture Partners, Wicklow Capital and English businessman Sir Richard Branson.
One of the selling points of Blockchain.info is its simple user interface, which even newbies to the Bitcoin industry will not take significant time to get used to. The interface makes it very easy for newcomers to grasp how the market works.