The crypto market has always been highly volatile, however, the current conflict in Ukraine and sanctions on Russia have caused several crypto trends to accelerate. As sanctions persist on Russia and its residents are turning to crypto in order to protect their assets from being confiscated and the Ruble is crashing, and no one wants to be holding an asset that can’t be traded worldwide. This has resulted in a rise in demand for cryptocurrency, which has driven up prices and forced government officials to look at how to manage it. Despite this however, the technology behind blockchain is considered to be extremely innovative and holds lots of potential significance and is appealing to investors. Furthermore, it is becoming more accepted as a method of payment, which can lead to more stability in prices. As Bitcoin’s use cases become more evident, people are increasingly seeing it as a safe place to keep value. Here are some cryptocurrency trends we’re likely to witness.
Wallet ownership is predicted to grow by 2022. Non-custodial wallets could still offer advantages over custodial versions
Custodial wallets have the private keys held by an outside party. This gives the third party complete control of your money, and you are only required to authorize them to transfer or receive payments. Non custodial Blockchain wallet is a type which allows you to act as your bank. The private key and the funds can be accessed by users at their own discretion. As cryptoassets gain popularity and wallets become more popular, they will become more frequent. A growing number of investors are using their own wallets. However, clients typically have their own wallets and accounts on exchanges, too.
Security is a key trend in wallets and custody solutions in 2022.
Security is a key trend in wallets and other custody solutions this year, that is driven by the continued inflow of institutional investors into the market. Everyday news reports include another fraud or hack where cryptoassets are stolen or users lose their keys to their wallets. This kind of situation can be avoided and investors are secure with the advancements in technology.