Although the crypto market is always volatile however, many of the trends have increased because of sanctions against Russia and Ukraine. As sanctions persist on Russia and its residents are turning to cryptocurrency to protect their assets from being confiscated; the Ruble is in a downward spiral, and no one wants to own the Ruble in a currency that is not able to be transacted worldwide. This has resulted in an increase in demand for crypto and has pushed up the cost and forcing governments to think about the best way to regulate this currency. Despite this volatility however, the technology behind blockchain is considered to be very innovative and has a lot of potential meaning its still appealing to investors. In addition, cryptocurrencies are becoming more widely accepted as a form of payment, which could lead to more price stability in the near future. As Bitcoin’s use cases become more clear and people begin to see it as a safe place to keep value. Here are a couple of cryptocurrency trends we’re likely to witness.
The number of wallets is expected to increase by 2022. Non-custodial wallets may continue to have an edge over custodial variants
Custodial wallets have the private keys that are held by a third party. This allows the third party complete control of your funds and you only need to grant permission to receive or send payments. A non-custodial Blockchain wallet is a kind that allows you to be your own bank. Private keys and funds are accessible to the user at their discretion. As cryptocurrency becomes more well-known and wallets become more popular, they will become more frequent. Investors are increasingly using their own wallets. However, clients typically have their own wallet as well as wallets on exchanges too.
Security will be a major trend for custody and wallet solutions on 2022 The year 2022 will be the year that -Security will
Security is a key trend in wallets and other custody solutions in the coming year, one driven by the continuing entry of institutional investors into the market. Everyday news stories include another fraud or hack in which cryptoassets are hacked or users lose key to their wallets. Technology is available today to safeguard against these scenarios and provide reassurance for investors.
