Blockchain wallet, a digital storage tool used to buy and send or store cryptocurrencies, provides the necessary security during investment or money transfers. The one-click blockchain wallet is called today’s digital vault.
596,000 people are actively trading
According to Blockchain.com data, there are over 875 million addresses worldwide, said Albcoin Research Manager Helin Celik. Therefore, there may be occasional decreases or rises in the number of active addresses. At the beginning of January 2020, the number of addresses actively trading in Bitcoin increased to 596,000 when looking at daily data, reaching 1,362,772 in parallel with the price increase after the specified period. That number almost coincides with the first quarter of 2021. The price increase increased investors’ risk appetite, number of transactions and market volume. The demand-price balance fed each other.”
Profit opportunity attracts investors
Celik informed that as of the beginning of August 2021, the number of addresses that do not trade and equal to zero has reached 837 million. On a daily basis, there are over 830,000 active addresses. The higher the number of active addresses, the more the market volume is fed. On the other hand, Turkey is the country that opens the most blockchain wallet addresses. This is because the opportunity in the cryptocurrency market never ends and it can leave a high profit margin. Of course, not every transaction results in profit, but knowing that there is opportunity is also one of the most important elements that attracts. More buy-to-sell businesses are being entered into than trading cryptocurrencies for investment purposes. This suggests that there is a serious audience that wants to take advantage of market pricing instantly.”
Beware of private key
Mentioning that cryptocurrency wallets are opened on the blockchain, Helin Celik said: “Mobile wallets, which can be used via smartphones and are user-friendly, are designed in accordance with cryptocurrency expenditures in daily life, while being sensitive to malicious software. Hardware wallets are the most preferred type of wallet in the cryptocurrency market. Hardware wallets, known as hardware and with high reliability rates, are more preferred than other types of cold wallets because they are number generators to create keys and have no commitment to the online environment. All these wallets have a public key, private key, and address information. Private key should not be shared with anyone and should not be lost.”