Blockchain.info Marks Over 3M Wallets; Coinbase CEO Slams Altcoins

Feb 24, 2015
Blockchain Coinbase

Blockchain Coinbase

Web, desktop, and mobile wallets can be used to play in a Bitcoin casino, so long as they are supported by the system. However, of the three, web wallets are the predominantly used type since they serve as the best option for online gambling. They are convenient for handling small amounts of BTC, and they provide ample security for daily use.

Blockchain.info breaks records with over 3 million downloaded Bitcoin wallets

Blockchain.infoThese are the reasons online bettors should be credited in part for pushing the total number of Blockchain.info wallets beyond the three-million mark.

While the Bitcoin casino market is not entirely responsible for the skyrocketing demand for the Blockchain.info wallets, it is worth noting the significant contributions the growing number of players owning such Bitcoin wallet makes.

According to the data provided by Blockchain.info, this month’s figure more than doubled from the same time last year. As of writing, there are approximately 3.007 million Blockchain.info wallets downloaded by Bitcoin users already, a massive jump from the 1.3 million recorded in March 2014.

However, the sharp increase in the number of wallets does not exactly mean that all downloaded wallets are currently in use. Blockchain.info CEO Peter Smith declined to divulge the actual number of active wallets, according to reports.

Coinbase wants to focus on Bitcoin and sidechains only

Trailing behind Blockchain.info is its rival Coinbase. This wallet service provider registers an estimated number of 2.5 million wallets at present.

Although Coinbase is still half a million short to set a new record, its CEO Brian Armstrong recently became the center of attention after he called altcoins ‘a distraction.’

This hinted that Armstrong is possibly in favor of the Sidechain Concept, and this may manifest in the future Coinbase services. This becomes a probable scenario since the company recently managed to receive more than $100-million funding.

Despite its popularity, Coinbase, however, is not the perfect web wallet to be used to bet on the Bitcoin casino games online due to its strict policy against the use of its services for gambling-related activities.

Bitcoin casinos play a huge factor for the success of Bitcoin wallet service providers

This can be said about just any other Bitcoin industries. However, at the rate online bettors increase and maximize the winning opportunities provided in a Bitcoin casino, it becomes evident that the iGaming industry is a strong market. After all, there was once a time when Bitcoin bets made up about half of the total Bitcoin transactions in the world.