PRESS RELEASE
Published June 13, 2023
The market for cryptocurrency trading platforms worldwide is anticipated to reach US$ 36.5 billion in 2022. By 2032, the global market is anticipated to be valued at US$ 135.7 billion, growing at a 14.0% CAGR from 2022 to 2032. The virtual currency is called cryptocurrency. It is a currency that exists digitally and is issued or regulated centrally. Blockchain technology, which is decentralized, is used to verify transactions.
Furthermore, banks are employed as a peer-to-peer system to enable users to make and receive payments from anywhere in the world rather than to authenticate the transactions.
Platforms for trading cryptocurrencies, also known as exchange platforms, facilitate the trade of this currency with the aid of exchange accounts. Volume, security, commission costs, and the availability of the market are the most crucial variables taken into account while exchanging currencies on cryptocurrency trading platforms.
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What is Driving Demand for Crypto Trading Platforms?
Growing need in transparency and operational efficiency in financial payment systems, increasing demand for remittances in emerging economies, rise in data security, and enhanced market cap are some of the major factors which are driving the market growth.
Moreover, growing demand for cryptocurrency among financial institutions, banks, and untapped potential in developing economies are anticipated to offer lucrative opportunities for market expansion during the forecast period.
Cryptocurrencies for the global economy range from lower transaction fees for the online exchange of money, which leads to a rise in protection from identity theft due to their secure nature.
Services is anticipated to register the highest CAGR during the forecast period in the crypto trading platforms market by Solution
On the basis of the solution, the market for crypto trading platforms is segmented into software and services. Out of which services are anticipated to register the highest CAGR during the forecast period.
The growth of the segment can be attributed to the growing demand for the various services offered by different exchange platforms to its customers. A few of the services include CSRF & SSRF protection, elliptic-curve cryptography wallet, payment gateway integration, KYC & AML integration, DDoS protection, and X-XSS-Protection among others.
North America Crypto Trading Platforms Demand Outlook
North America is one of the largest markets for crypto trading platforms across the globe. The growth in the region is majorly attributed to the growing interest in cryptocurrencies among the major population.
Furthermore, North America happens to be the most speedily changing and competitive market in the world. Also, the region is also anticipated to adopt new technologies at a quicker pace as compared to other countries across the globe.
Asia Pacific Demand Outlook for Crypto Trading Platforms
Asia Pacific is anticipated to showcase the highest CAGR during the forecast timeframe. Countries like China, Japan, and South Korea are expected to grow at a significant pace, in which China has the largest market among all the APAC countries. The major factor responsible for the growth in the region is the low cost of electricity and the presence of big mining companies.
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Who are the Key Manufacturers and Suppliers of Crypto Trading Platforms?
Some of the leading manufacturers of Crypto trading platforms market are
- Binance
- Coinbase
- Kraken
- Huobi Global
- Bitfinex
- Bitstamp
- Luno
- Exmo
- Gemini
Crypto Trading Platforms Market Report Highlights:
- Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- The historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Crypto Trading Platform Market Outlook by Category
By Platform:
- Web-based Crypto Trading Platform
- Mobile Crypto Trading Platform App
By Cryptocurrency:
- Bitcoin
- Ethereum
- Tether
- USD Coin
- Binance Coin
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
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The post Unleashing the Future: Exploring the Thriving Crypto Trading Platform Market Set to Reach US$ 135.7 Billion by 2032 with a Remarkable CAGR of 14% | FMI appeared first on Future Market Insights.
