The cryptocurrency industry is gaining momentum with the rising trend of crypto wallets

SAN FRANCISCO, 26 April 2023 /PRNewswire/ — The global cryptocurrency industry size obtained USD 40.09 billion in 2021 and will show a CAGR of 26.8% from 2022 to 2030, according to “Cryptocurrency Industry Data Book, 2022 – 2030,” published by Grand View Research. The growth of cryptocurrencies from digital novelties to billion-dollar businesses (and potentially trillion-dollar market) is largely attributed to the penetration of distributed ledger across gaming, healthcare and commerce. , e-commerce, retail and public sector The growing prominence of digital currencies for transparency, security and decentralization has encouraged companies to invest in digital assets.

Entrepreneurs and investors are gearing up to use cryptocurrencies and explore their benefits, including but not limited to: easy transfer of funds, removal of a third party, strengthening control over the firm’s capital, and removal of single points of failure. Increasing demand for blockchain across industry verticals for instant traceability, speed, efficiency and automation will herald growth and innovation. These trends have driven demand for cryptocurrency exchange platforms and crypto wallets across advanced and emerging economies.

Intake of Ethereum into gaming and financial apps, along with the growth of the decentralized finance space, has spurred the footprint of cryptocurrency exchange platforms. Industry leaders expect the soaring footprint of non-fungible tokens (NFT) to strengthen the position of key players in the market. NFTs have been sought after in the gaming industry to represent characters, including tradable items and consumables. The cryptocurrency stock exchange platform market size stood at USD 30.18 billion in 2021 and is estimated to witness a 27.8% CAGR during the forecast period. The growth is mainly due to high demand for cryptocurrencies across commercial areas for better transparency compared to cash.

Order your copy of the free sample of “Cryptocurrency Industry Database – Cryptocurrency Mining Hardware & Exchange Platform, Crypto Wallet, Cryptocurrency Payment apps and Crypto ATM Market Size, Share, Trend Analysis and Segment Forecasts, 2022-2030” Data Book, published by Grand View Research

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Stakeholders explore opportunities i crypto wallets for unmatched safety and security. The increasing penetration of hardware wallets and software wallets will usher in innovation across industry platforms. Hot wallets (or software wallets) have received a boost with increased demand for Android and iOS devices. The applications of mobile apps and online wallets have promoted the footing of hot wallets, which bodes well for market growth. The crypto the size of the wallet market was linked to USD 6.97 billion in 2021 and will observe an impressive CAGR of 24.4% over the assessment period. The growing need to cope cryptocurrency amid growing trade in digital assets will increase market share.

Some dynamics intended to encourage stakeholders to inject funds into the ecosystem are highlighted below:

• Cryptocurrency Payment apps have gathered tremendously following the legalization of digital assets in various countries. In 2021, El Salvador became the first country to adopt bitcoin as legal tender.

• Crypto ATMs are slated to be the mega-trend on the back of surging installation of bitcoin ATMs and simpler trading options.

• Europe could be a happy hunting ground for cryptocurrency service providers due to the rising popularity of the digital currency across industry verticals. Currently, it is not illegal to use Bitcoin in the EU.

Go through the table of contents to Cryptocurrency Industry database to gain a better understanding of the coverage and scope of the study

North America is slated to witness investments abound with the legalization of cryptocurrencies and increasing purchases of digital assets in the US and Canada. The White House cited data showing that 16% of American adults have purchased digital assets and urged that these currencies offer opportunities to underline America’s leadership in the global financial system. In addition, the Office of Science and Technology Policy (OSTP) is expected to join forces with NSF to initiate research on next-generation cryptography, privacy, cybersecurity, and measures to reduce digital assets’ environmental impact. Favorable government policies and the growing footprint of cryptocurrencies across the gaming, financial, healthcare and automotive sectors can spark innovation and growth. Leading players can apply crypto to stay abreast of the trend and expand the visit to the untapped regions.

The competitive landscape alludes to the growth trajectory that emphasizes organic and inorganic strategies, including technological advancements, innovation, research and development activities, product offerings, collaborations, and mergers and acquisitions. To illustrate, i March 2023Bybit announced the rollout of the Mastercard drive Bitcoin cards in the EU and UK Meanwhile, in February, VISA was reportedly considering launching Bitcoin and crypto cards in the UK and 40 Asia Pacific countries.

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Grand View Research, a US-based market research and consulting company, offers syndicated as well as custom research reports and consulting services. Registered in California and has its headquarters in San Francisco, the company consists of over 425 analysts and consultants, adding more than 1,200 market research reports to its vast database each year. These reports offer in-depth analysis of 46 industries in 25 major countries worldwide. Using an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities ahead.

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