3/27/2023 0 Comments Crypto trading platformThis further helped the organization to strengthen its offerings and improve client experience.Īlthough bitcoin is the most well-known cryptocurrency, there are many more, including Ethereum, Tether, USD coin, BNB, Binance, and Dogecoin. Morgan Stanley, for instance, began selling bitcoin funds to its wealth management customers in March 2021. It can be linked to the increasing use of DeFi (decentralized finance), rising number of crypto exchange providers, and rapid acceptance of cryptocurrency by various financial institutions. According to a cryptocurrency trading platform provider named, the global cryptocurrency ownership is approaching 300 million, which is expected to surpass 1 billion by the end of 2022. Growing number of cryptocurrency users across the globe is projected to have a significant impact on the industry. Incorporation of Blockchain Technology to Push Sales of Crypto Trading Platforms If digital currency platforms do not upgrade their security systems on time and eliminate any risk of malfunction, the market may suffer losses. Malware, user confusion, illegal trading platforms, non-regulated cryptocurrency, phishing attacks, and third-party software are just a few of the threats.īecause these platforms handle larger sums of money, they are prone to various attacks, and some platforms have not received legal status. For the global market cap, such backing may create greater growth opportunities.ĭigital Money Creates Challenges for Market Growth Due to Security Concerns:ĭue to cybersecurity concerns related to crypto trading platforms, the global crypto market is expected to face challenges during its growth trend. Ether and other companies followed suit, and their revenues increased by 7%. In 2021, Tesla's revenue increased by 12% in one day following Elon Musk's online statement about bitcoin. Providing backing from well-established firms will enable users to know that their money is in safe hands. If crypto trading platforms prove their authenticity among the population, they may see more growth opportunities. Growth Opportunities Provided by Established Firms Since crypto trading platforms operate via the internet, the ambiguity surrounding them is higher, which may restrict global market expansion if users fail to generate confidence in these platforms. Due to the increased funding received from venture capitalists (VCs), crypto trading platforms are expected to gain greater popularity in the forecasted period.Smartphone manufacturers have significantly increased the number of technologically advanced smartphones, allowing people from all backgrounds to access affordable mobile technology.In emerging economies, there is a growing demand for remittances, there is an increase in market capitalization, and there is an increase in transparency and operational efficiency in financial payment systems.There has been an increase in information flow due to the growth of technology (IT) and multiple advancements in digital space.Global Crypto Trading Platform Market Estimated Size (2022E) The global demand for the crypto trading platforms is expected to rise 14% per year to US$ 36.5 billion by 2022, supported by Crypto Trading Platform Market Outlook (2022-2032)
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