Download This Paper Open PDF in Browser

2017 Global Cryptocurrency Benchmarking Study

112 Pages Posted: 11 May 2017 Last revised: 20 Sep 2017

Garrick Hileman

University of Cambridge; London School of Economics

Michel Rauchs

University of Cambridge - Cambridge Centre for Alternative Finance

Date Written: April 6, 2017


The first global cryptocurrency benchmarking study presents a systematic and comprehensive picture of a rapidly evolving industry, illustrating how cryptocurrencies are being used, stored, transacted and mined. The study gathered non-public data from more than 100 cryptocurrency companies and over 30 individual cryptocurrency miners in 38 countries around the world via secure web-based questionnaires, capturing an estimated 75 per cent of the cryptocurrency industry. The study breaks down the cryptocurrency industry into four key sectors – exchanges, wallets, payments and mining. Key findings and highlights from the study include our estimate that over three million unique individuals are actively using cryptocurrency today, data on regulation and compliance practices and costs at firms, and a global map of cryptocurrency mining.

Keywords: cryptocurrency, bitcoin, blockchain, money, currency, alternative currency, remittances, Ethereum, Ripple, Litecoin, Dash, Monero

JEL Classification: E40, E41, E42, E49, E50, E51, E58, E59, F24, F31, G18, G28, O17, O33

Suggested Citation

Hileman, Garrick and Rauchs, Michel, 2017 Global Cryptocurrency Benchmarking Study (April 6, 2017). Available at SSRN: or

Garrick Hileman (Contact Author)

University of Cambridge ( email )

Cambridge, Cambridgeshire CB2 1QA
United Kingdom


London School of Economics ( email )

Houghton Street
London, WC2A 2AE
United Kingdom

Michel Rauchs

University of Cambridge - Cambridge Centre for Alternative Finance ( email )

10 Trumpington Street
Cambridge, CB21QA
United Kingdom

Paper statistics

Abstract Views