While the cryptocurrency market is always volatile, many trends have accelerated because of sanctions against Russia and Ukraine. As sanctions persist on Russia and its residents are turning to crypto to keep their assets from being frozen and the Ruble is crashing, and no one would like to hold an asset that can’t be transacted internationally. This has resulted in a rise in interest in cryptocurrency that has driven higher prices, and forced government officials to look at the best way to manage it. Although it is prone to volatility, the underlying technology is still considered to be extremely creative and has a lot of potential. This makes it attractive to investors. Furthermore, it is becoming more popular as a means of payment which could result in more price stability. More and more people see Bitcoin as a secure store of value as its use cases become clearer. These are just a few of the trends in crypto that we can expect to see by 2022.
The ownership of wallets will likely to rise by 2022. In addition, non-custodial wallets could continue to get an edge over custodial variants
With the Custodial Wallet, the private keys are managed by a third party therefore, the third party holds full control over your funds and you just need to give permission to send or receive payments. A non-custodial Blockchain wallet is one which allows you to act as your bank. The private key and funds are accessible to users at their own discretion. As cryptocurrency becomes more well-known and wallets become more popular, they will become more frequent. Investors are using more wallets. However, clients typically have their personal wallets in addition to the ones on exchanges.
-Security will be the main trend for custody and wallet solutions on 2022 2022.
This year security is a major trend in wallets and custody solutions, driven by the increasing number of institutional investors continuing to enter the market. Everyday news stories include another scam or hack, where cryptoassets get stolen, or users lose key to their wallets. These situations can be avoided and investors can feel secure with the advancements in technology.