Hardware wallets allow one to manage own private keys, granting full ownership and control on funds. Since the private keys are kept offline at all times, they are immune to malicious software, except in a scenario where the device is defective. As they are able to sign transactions without the private keys ever leaving the device, they are more secure than a software wallet.
The companies are concentrating on innovation with devices that handle numerous currencies and wireless technologies due to increased investments in the market under study. This is expected to drive the growth of the global hardware wallet market. For instance, in August 2022, Ledger, a prominent hardware manufacturer for securing digital assets, intends to invest at least USD 100 million to grow its company. Most prominent entrepreneurs and businesses are interested in bridging hot and cold storage to find the best of both. This is expected to offer lucrative opportunities in the growth of global hardware wallet market. For instance, in August 2022, Coinkite, a bitcoin business, released Tapsigner, its newest hardware wallet, to simplify cold-storage bitcoin self-custody.
On contrary, lack of consumer awareness regarding buying and selling of cryptocurrency is expected to hamper the growth of global hardware wallet market.
Key features of the study:
Table of Contents:
*Browse 24 market data tables and 28 figures on "Global Hardware Wallet Market” - Global forecast to 2030
Joining thousands of companies around the world committed to making the Excellent Business Solutions.View All Our Clients