Blockchain Wallet registering 50k user wallets per day, claims CEO

Despite the downturn currently hitting the cryptocurrency market, Blockchain Wallet says that it’s adding 50,000 users per day.

Peter Smith, CEO and Co-founder of, tweeted to correct the earlier reports that suggested Coinbase was registering 50,000 users per day. Smith continued to state that it’s “delightful” to see new users wanting to use cryptocurrencies.

“CORRECTION: It’s actually *Blockchain* signing up over 50,000 per day in the midst of this crypto downturn. It’s delightful to see new entrants actually interested in *using* crypto,” the Tweet read. Which you can see below.

Smith’s tweet may be seen as a light jab at Coinbase and Bloomberg, poking a bit of fun at their misreporting, and of course, jumping on an opportunity to push his label into the limelight.

Are Users in defiance of crypto downturn?

While the huge signup figure had many cryptocurrency supporters over the moon, a good number were critical that Smith might be over-hyping the number. Some argued that Blockchain doesn’t support fiat on-ramp, which makes such growth statistics not quite relevant. Though, are we underestimating just how many new traders there are?

Cryptocurrencies have see tough times over the last quarter with most coins plunging double digit percentages over the last week alone. Though, as most ‘pros’ believe we are still in a full-market correction, this is to be expected. The slide of the cryptocurrency market should scare away proponents, yet Smith’s claims suggest the opposite.

Blockchain’s bigger plans

Since closing a Series B funding of £31 million in 2017, led by Google (around $40 million), according to reports, Blockchain has become the ‘most trusted crypto company.’ Earlier in June the company announced that it had hit a crucial milestone, registering 25 millionth cryptocurrency wallet. A month later, reports surfaced that the company was launching a product – Blockchain Principal Strategies – designed for institutional investors.

We’ll be paying close attention to this wallet provider as they bring more technology to the table.


View posts by James
James is a cryptocurrency enthusiast, an advocate for the development and exposure of blockchain technology, and believes in the use of digital assets for the good of the society. He has been writing about crypto since he first learnt about cryptocurrencies in 2010. Initially, he was attracted by the disruptive economic and social implications of virtual currencies and blockchain technology, and over the years he has dedicated himself to learn everything he can about the industry.

1 Comment

  1. Ryan
    August 20, 2018

    Wow, fantastic news format! How long have you ever been running for? you make blogging look easy. The entire glance of your website is wonderful, let alone the content!


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