Global Crypto Wallet Market: Global Size, Trends, Competitive, and Historical & Forecast Analysis, 2022-2028- Skyrocketing demand for cryptocurrencies is one of the major factors driving the growth of the Global Crypto Wallet Market.
The Global Crypto Wallet Market is Expected to be Dominate by the Crypto Software Wallet with the Major Market Share over the Forecast Period.
Crypto wallets help to store confidential keys, maintaining crypto safe and available. In short, is nothing but a secure place to store your proof of ownership. They also permit to deliver, receive, and spend cryptocurrencies like Bitcoin, Ethereum, and many more. Crypto wallets vary from simple-to-use apps to more complicated security solutions. A cryptocurrency wallet is a physical medium, device, program, or facility that stores the private and/or public keys for cryptocurrency transactions. Whereas the first cryptocurrency wallet was established in 2009 by Satoshi Nakamoto when he first published the bitcoin protocol.
The Covid-19 has optimistically impacted the growth of the global crypto wallet market, as it has enhanced the pace of change in financial services. As the Tether, Bitcoin, Ethereum, and any other has gone mainstream. The digital asset rose above USD 28,000 in the last few days of 2020 to hit a record high. However, the Covid-19 pandemic has a slight adverse impact on the crypto wallet market, owing to the level of constancy in cryptocurrency considerably diminished.
The global crypto wallet market is segmented based on type, downstream fields, and geography. Based on type, the global crypto wallet market is segmented into hardware, software, and paper wallets. In addition, based on downstream fields, the global crypto wallet market is segmented into the hot wallet and cold wallet. Based on end-users, the global crypto wallet market is classified as trading, e-commerce and retail, peer-to-peer payment, and remittance.
The regions covered in this global Crypto wallet market report are Asia-Pacific, North America, Europe, and the Rest of the World. Based on a country level, the market of global Crypto wallet is subdivided into the U.S., Canada, Brazil, Mexico, Germany, U.K., France, Italy, China, Japan, India, Southeast Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
Some of the key players cover the report for global Crypto wallet market are:
On January 25th, 2022; EarlyBird, the platform that creates it simple for parents, family, and friends to cooperatively invest in a child's future, launched EarlyBird Crypto.
On January 19th, 2022; Opera unveiled its Web3 “Crypto Browser” into beta with features like a built-in crypto wallet, simple access to cryptocurrency/NFT exchanges, help for decentralized apps (dApps) and more.
On December 9th, 2021; WhatsApp launched a new pilot that allows a “limited number” of people send and get money from contained by a chat using cryptocurrency in the US. The feature is operated by Novi, Meta’s digital wallet that introduced as a pilot.
On September 22nd, 2021; Robinhood has been testing “crypto wallets” with choose clients in October to permit investors to send, obtain, and move cryptocurrencies in and out of the Robinhood app.
Huge demand for cryptocurrencies across the globe is one of the major factors driving the growth of the crypto wallet market. Cryptocurrencies are gaining massive popularity worldwide owing to their outstanding features and technologies. The numbers of developed countries like the U.S., European countries, Japan, and many more imply people's inclination towards digital currency. As a result, the awareness about cryptocurrencies is enormously heightening among the people. For example; Bitcoin is the eldest decentralized cryptocurrency and has the biggest market cap within commerce. There are more than 300 million crypto users worldwide, out of which more than 38 million are from Europe and nearly 28 million are from the U.S. The usage and awareness regarding the benefits of using cryptocurrencies across the globe is skyrocketing and eventually generating vast opportunities for a crypto wallet. As crypto wallet allows to send and receive various cryptocurrencies. Therefore, this factor is dynamically intensifying the crypto wallet market globally.
In addition, technological innovations and advancements in the crypto world is another factor generating huge revenue for the crypto wallet market worldwide. A number of crypto wallets are available such as eToro, Coinbase, Binance, Huobi, and many more due to their several excellent uses. As a consequence, manifold players are showing huge courtesy towards investment in a crypto wallet. For example; the leading provider of crypto wallet IRAs in America, CryptoWallet IRA has launched its new platform and gives buying and selling services. As well, Childly has launched its Dove Wallet, a global crypto wallet service. Dove Wallet offers cryptocurrency trading markets, and transport services presently. Apart from the above evidence, the US-based crypto trading app, Robinhood has revealed that it is going to launch its new digital wallet service in 2022. Local and small or major players are also leveraging into the crypto wallet market to stay competitive. This may offer more opportunities for key players in the crypto wallet market globally.
However, the high price of crypto wallets is estimated to hamper the crypto wallet market all across the world. Despite this, growing developments in cryptocurrencies and technological advancements are dynamically generating a plethora of opportunities for the further growth of market.
Geographically, North America is expected to account for the largest share in the global crypto wallet market owing to the huge presence of market players and their new innovations in this region. Proliferating demand for the crypto wallets is another factor thriving the growth of the crypto wallet market across North America. The U.S. is one of the developed countries and is considered at the forefront in terms of technologies and developments. As per the study of Brandessence Market Research Analyst; there are more than 22 million users out of which 30 to 40% are in the U.S. The U.S. Coinbase has gotten a number of daily active users that was over 10 times that of blockchain wallet.
Europe is the fastest-growing region in the global crypto wallet market due to increasing government support in this region. On June 3rd, 2021, the European Union planned to release a digital wallet that would permit its citizens to make payments throughout all member states with slight friction. Also, it is allowing for the storage of digital ID information. This crypto wallet would store passwords and payment aspects, permitting access to local government websites and bill payments using a single digital identity.
Middle East and Africa
|Historical data||2015 - 2020|
|Forecast Period||2021 - 2028|
|Market Size in 2021:||USD XXX Million|
|Base year considered||2020|
|Forecast Period CAGR %:||
|Market Size Expected in 2028:||USD XXX Million|
|Tables, Charts & Figures:||175|
|Crypto wallet Companies||Coinbase Gemini, BitGo, com, Binance, BitMex, Bitfinex, BRD, Trezor, BitPay, Ledger, Bittrex, Exodus, others|
|Segments Covered||By Type, By Downstream Fields, By End-User|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
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