Global Cryptocurrency Software Wallets Market (Pre & Post COVID-19 Pandemic Analysis) by Transaction Type, Wallet Type, Currency Type, End-Users, and Region
PUNE, MAHARASHTRA, INDIA, March 15, 2022 /EINPresswire.com/ — In terms of revenue, the Global Cryptocurrency Software Wallets Market is projected to grow at a CAGR of 28.92% over the forecast period (2022 – 2030).
The Bitcoin Segment Accounts for the Largest Market Share in 2021, Backed by Increasing Investment
More than just a cryptocurrency, bitcoin has turned out to be an obsession for many people. With mainstream financial businesses such as Square and Payal getting into bitcoin, consumers are inclined towards crypto bitcoin investment. Moreover, viral stories about people who have had success with bitcoin and desirable windfalls, from instant bitcoin millionaires’ stories, are driving the segment’s growth. Increasing acceptance of cryptocurrency for transaction settlement is having a positive impact on the global cryptocurrency software wallets market growth. For instance, in March 2021, Visa Inc. announced that it would allow cryptocurrency USD Coin to settle transactions on its payment network. This is a sign of the mainstream financial industry’s growing acceptance of digital currencies.
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Crypto can serve as an effective alternative or balancing asset to cash. Crypto is an investable asset, and some, such as bitcoin, have performed exceedingly well over the last few years. Therefore, the cryptocurrency software wallets market has seen tremendous growth. Several benefits associated with crypto transactions is another factor leading for the market growth. For instance, according to the study published by BitPay, up to 40% of customers that pay with crypto are new to the merchant. Their purchase amounts are twice that of credit card purchases. Crypto is less expensive than cards, and there are no fraud-related chargebacks.
Digital currency is gaining popularity in many developing economies. For instance, according to the 2021 Global Crypto Adoption Index by Chain analysis, India was ranked second in terms of global cryptocurrency adoption. People, especially millennials, get excited by the vision of bringing a new, potentially life-changing technology into the world. Social media influence is another major factor driving the global cryptocurrency software wallets market. For instance, social media feeds into cryptocurrencies’ popularity, international celebrities and a highly-engaged cryptocurrency community on Twitter, TikTok and Reddit, are pushing consumers to invest in it, which is a positive factor for the crypto software wallet industry.
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The increasing user base of the operating companies is driving the cryptocurrency software wallets market growth. For instance, according to the data published by Popular mobile cryptocurrency non-custodial wallet Breadwinner AG, in 2020, the company has crossed a userbase of more than six million people worldwide. Several companies are using bitcoin and other digital assets for a host of investment, operational, and transactional purposes. For instance, according to coinmap.org, in 2020, over 15,000 businesses accepted bitcoin or offered bitcoin ATMs worldwide, and the number is increasing rapidly. The introduction of crypto in any business transaction is helping to spur awareness within the company about this new technology. It also can help position the company in this important emerging space for the future that could include central bank digital currencies. The acceptance and implementation of such trends in the market is anticipated to positively impact the global cryptocurrency software wallets market.
The prominent players operating in the market are emphasizing on the acquisition of other small or niche players to increase their market footprint. For instance, in October 2021, Coinbase Inc. acquired 100% stakes of cryptocurrency wallet startup Breadwinner AG for an undisclosed price. This acquisition is likely to help the company increase its footprint in the market. The key companies profiled in the global cryptocurrency software wallets market are mentioned below:
• BitPay Inc.
• Breadwinner AG
• Coinpayments, Inc.
• Exodus Movement, Inc.
• Infinito Solutions Pte Ltd.
• Key Hodlers, LLC
• Ledger SAS
• SatoshiLabs s.r.o.
• Trust Wallet
• Wallet Services Ltd.
• ZuPago HyBrid (HD) Wallet
• Other Market Participants
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Why one Should Procure Report of Global Cryptocurrency Software Wallets Market from Absolute Markets Insights:
Our 420+ pages research study on Global Cryptocurrency Software Wallets Market will include extensive information on the following pointers:
• Global Market size and forecast values (2015 – 2030), in terms of revenue (US$ Million) by segments/sub-segments; wherein 2015 to 2020 has been considered as historic years, 2021 as the base year, while 2022 to 2030 has been considered as the forecast period.
• Split of the market revenue (US$ Million) into all the relevant segments & sub-segments across all major regions/countries.
• Technological Trends
• Macro-Economic and Micro-Economic Indicators
• Market determinants and Influencing Factors
• Market Dynamics (Drivers, Restraints, Opportunities and Challenges)
• Global and Regional Impact of Covid-19 on Global Cryptocurrency Software Wallets Market
• Porter’s Five Forces Analysis
• Competitive Benchmarking: (Global Presence and Growth Strategies (Mergers and Acquisitions, R&D Initiatives, Product Launches, Investments Trends))
• Market Share Analysis, 2021
• Detailed insights of major market participants operating in the market, including information on company details, company overview, product offerings, key developments, financial analysis, SWOT analysis and business strategies.
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Global Cryptocurrency Software Wallets Market:
By Transaction Type
By Wallet Type
• Mobile Wallet
• Desktop Wallet
• Hardware Wallet
By Currency Type
• Ethereum (ETH)
• Ripple (XRP)
• Litecoin (LTC)
• Bitcoin (BTC)
• Tether (USDT)
• Bitcoin Cash (BCH)
o Small and Medium Enterprises
o Large Enterprises
• North America (U.S., Canada, Mexico, Rest of North America)
• Europe (France, The UK, Spain, Germany, Italy, Nordic Countries, Benelux Union, Rest of Europe)
• Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia, Rest of Asia Pacific)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
• Latin America (Brazil, Argentina, Rest of Latin America)
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