Consumers from countries in Africa, Asia, and South America were most likely to be an owner of cryptocurrencies, such as Bitcoin, in 2025. This conclusion can be reached after combining ** different surveys from the Statista's Consumer Insights over the course of that year. Nearly one out of three respondents to Statista's survey in Nigeria, for instance, mentioned they either owned or use a digital coin, rather than *** out of 100 respondents in the United States. This is a significant change from a list that looks at the Bitcoin (BTC) trading volume in ** countries: There, the United States and Russia were said to have traded the highest amounts of this particular virtual coin. Nevertheless, African and Latin American countries are noticeable entries in that list too. Daily use, or an investment tool? The survey asked whether consumers either owned or used cryptocurrencies but does not specify their exact use or purpose. Some countries, however, are more likely to use digital currencies on a day-to-day basis. Nigeria increasingly uses mobile money operations to either pay in stores or to send money to family and friends. Polish consumers could buy several types of products with a cryptocurrency in 2019. Opposed to this is the country of Vietnam: Here, the use of Bitcoin and other cryptocurrencies as a payment method is forbidden. Owning some form of cryptocurrency in Vietnam as an investment is allowed, however. Which countries are more likely to invest in cryptocurrencies? Professional investors looking for a cryptocurrency-themed ETF were more often found in Europe than in the United or China, according to a survey in early 2020. Most of the largest crypto hedge fund managers with a location in Europe in 2020, were either from the United Kingdom or Switzerland - the country with the highest cryptocurrency adoption rate in Europe according to Statista's Global Consumer Survey. Whether this had changed by 2025 was not yet clear.

In South Africa Cryptocurrency Payment Apps Market, offering valuable insights, key market trends, competitive landscape, and future outlook to support strategic decision.

The global user base of cryptocurrencies increased by nearly *** percent between 2018 and 2020, only to accelerate further in 2022. This is according to calculations from various sources, based on information from trading platforms and on-chain wallets. Increasing demographics might initially be attributed to a rise in the number of accounts and improvements in identification. In 2021, however, crypto adoption continued as companies like Tesla and Mastercard announced their interest in cryptocurrency. Consumers in Africa, Asia, and South America were most likely to be owners of cryptocurrencies, such as Bitcoin, in 2022. How many of these users have Bitcoin? User figures for individual cryptocurrencies are unavailable. Bitcoin, for instance, was created not to be tracked by banks and governments. What comes closest is the trading volume of Bitcoin against domestic fiat currencies. The source assumed, however, that UK residents were the most likely to make Bitcoin transactions with British pounds. This assumption might not be accurate for popular fiat currencies worldwide. Moreover, coins such as Tether or Binance Coin - referred to as "stablecoins"—are" often used to buy and sell Bitcoin. Those coins were not included in that particular statistic. Wallet usage declined Total crypto wallet downloads were significantly lower in 2022 than in 2021. The number of downloads of Coinbase, Blockchain.com, and MetaMask, among others, declined as the market hit a "crypto winter" over the year. The crypto market also suffered bad press when FTX, one of the largest crypto exchanges based on market share, collapsed in November 2022. Binance, on the other hand, regained some of the market share it had lost between September and October 2022, growing by *** percentage points in November. As of 2025, the highest forecast for the global user base of cryptocurrencies is projected to reach *** million.

Snapshot img

Cryptocurrency Market Size 2025-2029

The cryptocurrency market size is valued to increase USD 39.75 billion, at a CAGR of 16.7% from 2024 to 2029. Rising investment in digital assets will drive the cryptocurrency market.

Major Market Trends & Insights

North America dominated the market and accounted for a 48% growth during the forecast period.
By Type - Bitcoin segment was valued at USD 7.57 billion in 2023
By Component - Hardware segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 313.81 billion
Market Future Opportunities: USD 39749.40 billion
CAGR from 2024 to 2029 : 16.7%

Market Summary

The market represents a dynamic and rapidly evolving ecosystem, driven by core technologies such as blockchain and decentralized finance (DeFi), which have fueled the creation and adoption of various applications and service types. Notably, digital assets have gained increasing acceptance in the retail sector, with major companies like Microsoft, Starbucks, and Tesla integrating cryptocurrencies into their payment systems. However, the market is not without challenges, including the volatility of cryptocurrency values, which can impact investor confidence and regulatory uncertainty. According to Statista, the number of cryptocurrency users worldwide is projected to reach 223 million by 2022, underscoring the growing importance of this market.
Rising investment in digital assets and the potential for new use cases continue to present significant opportunities for innovation and growth.

What will be the Size of the Cryptocurrency Market during the forecast period?

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How is the Cryptocurrency Market Segmented ?

The cryptocurrency industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Bitcoin
  Ethereum
  Others
  Ripple
  Bitcoin Cash
  Cardano


Component

  Hardware
  Software


Process

  Mining
  Transaction
  Mining
  Transaction


End-Use

  Trading
  E-commerce and Retail
  Peer-to-Peer Payment
  Remittance


Geography

  North America

    US
    Canada


  Europe

    Germany
    Italy
    Switzerland
    The Netherlands
    UK


  APAC

    China
    Japan


  South America

    Brazil


  Rest of World (ROW)

By Type Insights

The bitcoin segment is estimated to witness significant growth during the forecast period.

Bitcoin, the world's largest cryptocurrency with a market capitalization of over USD470 billion, is a decentralized digital currency that operates on a peer-to-peer (P2P) network, bypassing the need for central authorities. Bitcoin's popularity is driven by its use of blockchain technology, which ensures secure, transparent, and immutable transactions through digital signatures and cryptographic hashing. The Bitcoin network faces scalability challenges, requiring ongoing improvements to transaction throughput and mining difficulty to maintain network security. KYC procedures and AML regulations are crucial for regulatory compliance, with exchange protocols implementing strict identity verification processes. Bitcoin's value is influenced by cryptocurrency volatility, with mining pools and consensus mechanisms like Proof of Work and Proof of Stake contributing to the creation and distribution of new coins.

Wallet security is paramount, with hardware wallets and cold storage providing enhanced security compared to software wallets. Decentralized exchanges and smart contracts, enabled by the Ethereum blockchain and public key cryptography, offer privacy protocols and zero-knowledge proofs to ensure secure transactions. The market is continually evolving, with ongoing activities and patterns shaping the landscape. Approximately 8% of Americans engage in cryptocurrency trading, with stablecoins like Tether, USD Coin, Binance USD, and DAI playing a significant role in the market. Despite its volatility, Bitcoin's impact on finance and technology is undeniable.

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The Bitcoin segment was valued at USD 7.57 billion in 2019 and showed a gradual increase during the forecast period.

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Regional Analysis

North America is estimated to contribute 48% to the growth of the global market during the forecast period.Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market in North America is experiencing significant growth, driven by the presence of numerous market participants and innovative technological advancements in the region. The burgeoning demand for digital

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Crypto Tax Software Market Outlook

According to our latest research, the Global Crypto Tax Software market size was valued at $1.2 billion in 2024 and is projected to reach $6.8 billion by 2033, expanding at a robust CAGR of 21.7% during the forecast period of 2025–2033. The primary growth driver for the crypto tax software market globally is the rapid mainstream adoption of digital assets coupled with increasingly complex regulatory requirements, which are compelling individuals, enterprises, and financial intermediaries to invest in sophisticated tax compliance solutions. As crypto transactions proliferate across both retail and institutional segments, the demand for automated, accurate, and real-time tax reporting tools has surged, making crypto tax software a critical enabler of compliance and transparency in the evolving digital finance landscape.

Regional Outlook

North America currently commands the largest share of the global crypto tax software market, accounting for approximately 42% of total market revenue in 2024. This dominance is attributed to the mature ecosystem of digital asset adoption, a high concentration of cryptocurrency exchanges, and proactive regulatory frameworks from agencies such as the IRS and FINRA. The region’s tech-savvy population, coupled with the presence of leading tax software vendors and fintech innovators, has accelerated the integration of advanced tax automation tools. Moreover, frequent updates in tax guidance and enforcement actions have heightened awareness and urgency among both retail and institutional investors, further bolstering demand for comprehensive crypto tax compliance solutions in the United States and Canada.

The Asia Pacific region is poised to exhibit the fastest growth, with a projected CAGR exceeding 25% from 2025 to 2033. This surge is underpinned by rising crypto adoption in markets like Japan, South Korea, Singapore, and Australia, where regulatory clarity is gradually improving. Governments and financial authorities across Asia Pacific are investing in blockchain infrastructure and digital asset oversight, prompting a wave of investments in tax technology startups. The region also benefits from a burgeoning population of tech-savvy millennials and SMEs, who are increasingly engaging in crypto trading and decentralized finance (DeFi) activities. As regulatory frameworks mature and cross-border crypto transactions increase, demand for scalable, cloud-based crypto tax software is expected to soar.

In emerging economies across Latin America, the Middle East, and Africa, the crypto tax software market is experiencing nascent but promising growth. Adoption is hindered by limited regulatory clarity, lower digital literacy, and infrastructural challenges. However, countries such as Brazil, South Africa, and the UAE are witnessing increased crypto penetration, driven by remittance flows, inflation hedging, and financial inclusion initiatives. Localized demand is rising for user-friendly, multilingual crypto tax solutions tailored to unique fiscal policies and reporting standards. While the market share remains modest compared to North America and Asia Pacific, ongoing policy reforms and international collaboration on tax transparency are expected to unlock significant opportunities in these regions over the coming decade.

Report Scope

Snapshot img

Cryptocurrency ATM Market Size 2024-2028

The cryptocurrency ATM market size is estimated to grow by USD 4.45 billion at a CAGR of 67.33% between 2023 and 2028. Cryptocurrency mining has seen significant growth in recent years, driven by the increasing number of installations worldwide. The demand for specialized hardware for cryptocurrency trading has surged, leading to a thriving market for manufacturers. This trend is further fueled by the growing acceptance and integration of cryptocurrencies into mainstream finance. Mergers and acquisitions in the industry have also been on the rise, as larger players seek to expand their market share and enhance their technological capabilities. For instance, MicroStrategy's acquisition of Bitmain's stake in BitmainTech, and Bitmain's subsequent acquisition of Canaan Creative, are notable examples of this trend. As the market continues to evolve, we can expect further consolidation and innovation in the cryptocurrency mining sector.

What will be the Size of the Market During the Forecast Period?

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Market Dynamic and Customer Landscape

Cryptocurrency Automated Teller Machines (ATMs) have revolutionized the way digital assets are bought and sold, offering an alternative to conventional banking services for cryptocurrencies. These machines allow users to exchange physical cash for digital assets like Bitcoin and other cryptocurrencies, or vice versa. The Crypto ATM market has seen significant growth as more countries embrace digital currencies and people seek the convenience of cash withdrawals and transactions without the need for traditional banking. Crypto ATMs are increasingly common in public places such as airports, shopping malls, convenience stores, and financial districts. Companies like Genesis Coin and those utilizing Lightning Network technology are leading the innovation in this sector. Users can easily locate Crypto ATMs using resources like Coin ATM Radar and Bitcoin ATM map. Fees for using these machines vary, but they provide a net change of traditional currency for digital assets, making them an attractive option for those seeking to invest or use cryptocurrencies. The future of the crypto ATM sector looks bright as blockchain technology continues to evolve and digital assets gain wider acceptance. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Market Driver

Increasing number of installations is notably driving market growth. The market is witnessing substantial growth as vendors invest heavily in research and development to introduce innovative technologies and products. These advancements include increasing hash rates and decreasing power consumption for more efficient transactions. In response to the fluctuating cryptocurrency values, affordable ATMs have been launched to expand market reach. For instance, Bitcoin Depot introduced over 350 new cryptocurrency ATMs across the US in May 2021. As of December 30, 2021, approximately 34,000 Bitcoin ATMs are operational worldwide.

Furthermore, the market is segmented into one-way and two-way segments, with Bitcoin being the most popular cryptocurrency for transactions. The hardware and software segments dominate the market, while the KYC process is essential for regulatory compliance. Online platforms like Coin ATM Finder and GENERAL BYTES cater to various industries, including hospitality spaces (restaurants, bars, cafes, hotels, and commercial spaces) and convenience store chains. Cryptocurrency ATMs offer capital appreciation opportunities and serve as a payment alternative for local merchants and personal computer users. The Litecoin blockchain and other altcoins are also gaining traction in the transaction volume, making the market increasingly diverse. Thus, such factors are driving the growth of the market during the forecast period.

Significant Market Trends

Increasing investments in the market is the key trend in the market. The market is witnessing significant growth as vendors focus on enhancing the efficiency of hardware, such as increasing hash rates, to gain a competitive edge. In regions like China, companies are investing in strategic partnerships and acquisitions to expand their reach. Cryptocurrency Automated Teller Machines (ATMs) offer enterprises risk management and capital control benefits, enabling seamless transactions and capital appreciation through Bitcoin, Litecoin, and other digital currencies.

Furthermore, Two-way ATMs, provided by companies like GENERAL BYTES, enable users to buy and sell cryptocurrencies, acting as a payment alternative in various sectors like hospitality spaces (restaurants, bars, cafes, hotels) and commercial spaces (convenience store chains). The market is s

Snapshot img

Crypto Wallet Market Size 2025-2029

The crypto wallet market size is forecast to increase by USD 631.2 million, at a CAGR of 20.6% between 2024 and 2029.

The market is experiencing significant growth, driven by the increasing popularity of digital currencies and the expanding availability of crypto wallets. The inclination towards digital currencies, offering benefits such as decentralization, anonymity, and faster transactions, is fueling market expansion. However, challenges persist, with misuse and security attacks posing significant obstacles to widespread adoption. As the crypto market continues to evolve, it presents both opportunities and risks for businesses. Companies seeking to capitalize on this market can focus on enhancing security measures, ensuring user-friendly interfaces, and expanding their offerings to cater to diverse user needs. Navigating the challenges requires continuous innovation and a commitment to addressing security concerns, ensuring trust and confidence among users. In summary, the market is characterized by robust growth, driven by the shift towards digital currencies, while grappling with challenges related to security and misuse. Companies must seize opportunities to provide secure, user-friendly solutions to capitalize on this dynamic market.

What will be the Size of the Crypto Wallet Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
Request Free SampleThe market continues to evolve, with various types of wallets catering to diverse user needs. Hardware wallets provide offline storage for private keys, enhancing security. Non-fungible tokens (NFTs) integration enables users to store and manage unique digital assets. Multi-currency wallets support various cryptocurrencies, while decentralized applications (dApps) integration offers seamless access to decentralized finance (DeFi) services. Transaction history and asset management are essential features for effective portfolio tracking. Wallet providers offer biometric authentication for enhanced security, while open-source wallets ensure transparency and community-driven development. Development kits (SDKs) enable customizable wallet solutions, catering to specific business requirements. Regulatory compliance is crucial, with Anti-Money Laundering (AML) and Know Your Customer (KYC) integrations becoming standard. Network fees, transaction fees, and gas fees are ongoing considerations for users, necessitating efficient wallet management. Security audits, import/export functions, and backup and restore capabilities are essential for maintaining wallet security. Cross-chain compatibility, seed phrases, staking rewards, and smart contract integrations are emerging trends, offering users more flexibility and opportunities. User experience (UX) and privacy coins prioritize user privacy and convenience. Payment gateways, merchant services, and wallet integrations facilitate seamless transactions. Key management and wallet recovery solutions ensure users maintain control over their assets. Threshold signatures and multi-signature wallets offer enhanced security through collective approval mechanisms. Blockchain integration, cryptocurrency exchange integration, and API integrations streamline user experience. The market's continuous dynamism underscores the importance of staying informed and adaptable to evolving trends and user needs.

How is this Crypto Wallet Industry segmented?

The crypto wallet industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. ProductSoftware-basedHardware-basedOSAndroidiOSOthersApplicationTradingPeer-to-peer paymentsRemittanceOthersEnd-userIndividualCommercialGeographyNorth AmericaUSCanadaEuropeFranceGermanyItalyThe NetherlandsUKAPACChinaIndiaJapanRest of World (ROW)

By Product Insights

The software-based segment is estimated to witness significant growth during the forecast period.Crypto wallets serve as essential digital vaults for managing various cryptocurrencies and non-fungible tokens (NFTs). These wallets offer users the ability to purchase, swap, lend, and earn digital assets, contributing to the growing recognition of cryptocurrencies as a liquid and broadly held asset class. Software-based wallets, including desktop applications and browser extensions, facilitate transactions online, making them known as hot wallets. Multi-currency wallets support multiple cryptocurrencies and tokens, while decentralized applications (dApps) enable users to access various DeFi services. Wallet providers offer additional features like transaction history, biometric authentication, and user interfaces tailored to individual preferences. Asset management tools help users trac

Explore the booming cryptocurrency token market with a projected $1,500 million size in 2025 and a 15% CAGR. Discover key drivers, trends, and segments including NFTs, DeFi, and payment tokens.

Based on Google searches, consumers from Africa and Latin America made up ***** of the top 10 countries with the most interest in Bitcoin in 2020. This according to information that was compiled from Google Trends, which compared searches with the keyword "Bitcoin" against searches for **** other cryptocurrencies - Bitcoin Cash, Cardano, Dogecoin, Ethereum, IOTA, Litecoin, Monero, XRP, and Tron. Bitcoin search interest was especially high in Kenya, whilst Nigeria and South Africa were fifth and ***** in a ranking that compares the ** different countries against each other. Note that the figures provided here were from before the surge in both the price of Bitcoin as well as the Bitcoin market cap observed at the end of 2020 and early 2021.

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Market Overview: The global cryptocurrency exchange platform market is projected to reach a valuation of 15,900 million USD by 2033, witnessing a CAGR of XX% during the forecast period 2025-2033. The market is driven by the rising adoption of cryptocurrency, increasing demand for trading and exchange services, and growing awareness of decentralized finance (DeFi). Additionally, favorable regulatory frameworks and advancements in blockchain technology contribute to the market growth. Key segments include centralized and decentralized exchanges, with retail and e-commerce, BFSI (Banking, Financial Services, and Insurance), and others as application segments. Regional Outlook: North America dominates the cryptocurrency exchange platform market, followed by Europe and Asia Pacific. The United States, Canada, Germany, United Kingdom, China, and India are major revenue-generating regions. The growth in these regions is attributed to a high concentration of technology companies, financial institutions, and early adopters of cryptocurrency. Moreover, the presence of leading exchange platforms such as Binance, Coinbase, Kraken, and others fosters market expansion. The Middle East & Africa and South America regions are also witnessing emerging markets, driven by increasing internet penetration and a growing appetite for alternative financial instruments.

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Base Year 2023 Forecast Period 2024-2028 Market Growth X.XX%*