What is Bitcoin Wallet Market?
Bitcoins do not exist in physical form, hence they cannot be stored anywhere. However, it consists of a private key which are used to access the bitcoin address which needs to be stored securely. Bitcoin wallet is a cryptocurrency wallet which stores the public and/or private keys. It offers the functionality of encrypting and/or signing information. The signature also prevents the transaction from being altered by anybody once it has been issued.
The market study is being classified by Type (Software wallet, Hardware wallet and Paper wallet) and major geographies with country level break-up.
Xapo (Switzerland), Wirex (United Kingdom), BIG Blockchain Intelligence Group Inc (United Kingdom), CEX.IO (United Kingdom), General Bytes (Czech Republic), ItBit (United States), Circle (United States), Airbitz (United States), LocalBitcoins (Finland), Jaxx (Canada) and Electrum wallet (Germany) are some of the key players profiled in the study.
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Bitcoin Wallet market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Bitcoin Wallet market by Type, Application and Region.
On the basis of geography, the market of Bitcoin Wallet has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increasing Investments in Cryptocurrency
- Increased Participation of Industries is Fuelling the Market
- Adoption of Cryptocurrency in Real World Stores
- Risks Associated with Cyber security
- Growing Popularity of Bitcoins
- Increasing Popularity of Hardware Wallets in Asia Pacific
- Limited Consumer Awareness
On October 2018, Blockchain has launched hardware wallet “Lockbox”. This the device is fully compatible with the firm’s wallet software and users are able to benefit from both services.
Key Target AudienceManufacturers, Raw material suppliers, Government associations, Research organisations, software vendors and Others
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