Crypto Cold Storage Wallets Market Report 2024 (Global Edition)

Global Crypto Cold Storage Wallets Market Report 2024 Market Size Split by Type (Hardware Wallets, Paper Wallets, Other Types), by Application (Individual Users, Institutional Investors), by Cryptocur...

Crypto Cold Storage Wallets Market Report Description

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Crypto Cold Storage Wallets Market Insights Video

Competitive Landscape of the Crypto Cold Storage Wallet Market

The crypto cold storage wallet market is highly competitive in terms of products, with a wide range of solutions targeting security, user-friendliness, and unique features. Companies continue to enhance their offerings to respond to secure needs, updating technologies such as biometric security, multi-signature capabilities, and user-friendliness. As more and more people invest in cryptocurrencies, the market is seeing increased competition-a number of brands are trying to stand out by providing unique functionalities and strong security measures, ultimately catering to novice and experienced users alike who want to protect their digital assets.

In August 2023, Ledger announced a strategic relationship with PayPal, marking a significant step toward expediting cryptocurrency transactions. A joint statement stated that the integration of Ledger Live software with PayPal will allow confirmed US residents to seamlessly acquire cryptocurrencies such as Bitcoin, Ether, Bitcoin Cash, and Litecoin via Ledger Live, eliminating the need for additional verification procedures. (Source: https://www.ledger.com/ledger-and-paypal-team-up-to-simplify-entry-into-the-world-of-cryptocurrency) In June 2021, Ledger SAS announced that it had raised US$ 380 million for its cryptocurrency hardware wallet. Following the round, the company's valuation increased to US$1.5 billion. (Source: https://www.ledger.com/ledger-raises-380-million-to-make-digital-assets-more-secure-and-accessible-to-everyone) In May 2020, Gemini Trust Company, LLC announced that it has partnered with Samsung Electronics to power the Samsung Blockchain Wallet and deliver cryptocurrency to consumers in the United States and Canada. (Source: https://globalfintechseries.com/news/gemini-first-u-s-cryptocurrency-exchange-to-integrate-with-samsung-blockchain-wallet-in-north-america/)

Top Companies Market Share in Crypto Cold Storage Wallets Industry: (In no particular order of Rank)

• Bitcoin.com
• BitPay
• BitMex
• Ledger
• Bittrex
• Coinbase
• BitGo
• Gemini
• Binance
• Bitfinex
• Confidential Data
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Crypto Cold Storage Wallet Market

Which Region Dominates the Crypto Cold Storage Wallet Market in 2024?

According to Cognitive Market Research, North America is the largest market for Crypto Cold Storage Wallets as it has an advanced technological infrastructure, high adaptation of cryptocurrencies, and a large number of institutional investors. The attention towards cybersecurity and regulatory supports within the region enhance the demand for secure storage solutions, hence becoming one of the leaders in the cold storage wallets market within the cryptocurrency ecosystem.

Which Region is Expanding at the Fastest CAGR?

The Asia-Pacific region is likely to make significant strides in the Crypto Cold Storage Wallets market during the forecast period and capture the highest compound annual growth rate. This can be attributed to growing adoption of cryptocurrencies in the region, increasing awareness about security issues, and enhancement of technological advancements, making Asia-Pacific one of the key players in the market.

The current report Scope analyzes Crypto Cold Storage Wallets Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Crypto Cold Storage Wallets

According to Cognitive Market Research, the global Crypto Cold Storage Wallet market size was estimated at USD 1634.5 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 653.80 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.0% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Crypto Cold Storage Wallet market with a market size of USD 515.85 million in 2024 and is projected to grow at a CAGR of 7.8% during the forecast period. The U.S. market's advanced cryptocurrency infrastructure and high adoption rates.
• The Canada Crypto Cold Storage Wallet market had a market share of USD 78.46 million in 2024 and is projected to grow at a CAGR of 8.8% during the forecast period. Canada’s growing concerns over cyber threats and asset security
• The Mexico Crypto Cold Storage Wallet market is projected to witness growth at a CAGR of 8.5% during the forecast period, with a market size of USD 59.50 million in 2024.

Europe Crypto Cold Storage Wallets

According to Cognitive Market Research, the global Crypto Cold Storage Wallet market size was estimated at USD 1634.5 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 490.3 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.3% from 2024 to 2031.

• The United Kingdom Crypto Cold Storage Wallet market had a market share of USD 82.38 million in 2024 and is projected to grow at a CAGR of 9.1% during the forecast period. In the UK, Crypto Cold Storage Wallet sales witness an upswing due to the increasing acceptance of cryptocurrencies among consumers
• The France Crypto Cold Storage Wallet market is projected to witness growth at a CAGR of 7.5% during the forecast period, with a market size of USD 45.11 million in 2024.
• According to Cognitive Market Research, the German Crypto Cold Storage Wallet market size was valued at USD 97.09 million in 2024 and is projected to grow at a CAGR of 8.5% during the forecast period. In Germany, Crypto Cold Storage Wallet surged due to the growing awareness of the importance of securing digital assets against cyber threats.
• The Italy Crypto Cold Storage Wallet market is projected to witness growth at a CAGR of 7.7% during the forecast period, with a market size of USD 42.17 million in 2024.
• The Russia Crypto Cold Storage Wallet market is projected to witness growth at a CAGR of 7.3% during the forecast period, with a market size of USD 76.00 million in 2024.
• The Spain Crypto Cold Storage Wallet market is projected to witness growth at a CAGR of 7.4% during the forecast period with a market size of USD 40.21 million in 2024
• The Luxembourg Crypto Cold Storage Wallet market is projected to witness growth at a CAGR of 8.4% during the forecast period, with a market size of USD 15.20 million in 2024.
• The Portugal Crypto Cold Storage Wallet market is projected to witness growth at a CAGR of 8.1% during the forecast period, with a market size of USD 10.30 million in 2024.
• The Greece Crypto Cold Storage Wallet market is projected to witness growth at a CAGR of 8.6% during the forecast period, with a market size of USD 5.88 million in 2024.
• The Rest of Europe's Crypto Cold Storage Wallet market is projected to witness growth at a CAGR of 7.0% during the forecast period, with a market size of USD 76.00 million in 2024.

Asia Pacific Crypto Cold Storage Wallets

According to Cognitive Market Research, the global Crypto Cold Storage Wallet market size was estimated at USD 1634.5 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 375.94 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.8% from 2024 to 2031.

• According to Cognitive Market Research, the China Crypto Cold Storage Wallet market size was valued at USD 169.17 million in 2024 and is projected to grow at a CAGR of 11.3% during the forecast period. Crypto Cold Storage Wallet surged in China due to rapid growth of the cryptocurrency market .
• The Japan Crypto Cold Storage Wallet market is projected to witness growth at a CAGR of 10.3% during the forecast period, with a market size of USD 51.88 million in 2024.
• The India Crypto Cold Storage Wallet market had a market share of USD 45.11 million in 2024 and is projected to grow at a CAGR of 13.6% during the forecast period. India's increasing awareness of security concerns.
• The South Korean Crypto Cold Storage Wallet market is projected to witness growth at a CAGR of 10.9% during the forecast period, with a market size of USD 37.59 million in 2024.
• The Australian Crypto Cold Storage Wallet market is projected to witness growth at a CAGR of 11.5% during the forecast period, with a market size of USD 19.55 million in 2024.
• The South East Asia Crypto Cold Storage Wallet market is projected to witness growth at a CAGR of 12.8% during the forecast period, with a market size of USD 25.94 million in 2024.
• The Rest of Asia Pacific Crypto Cold Storage Wallet market is projected to witness growth at a CAGR of 10.6% during the forecast period, with a market size of USD 26.69 million in 2024.

South America Crypto Cold Storage Wallets

According to Cognitive Market Research, the global Crypto Cold Storage Wallet market size was estimated at USD 1634.5 Million, out of which the Latin America held the market share of around 5% of the global revenue with a market size of USD 81.73 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.2% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil Crypto Cold Storage Wallet market size was valued at USD 34.98 million in 2024 and is projected to grow at a CAGR of 9.8% during the forecast period. Crypto Cold Storage Wallets flourished in Brazil due to increasing adoption of cryptocurrencies among the population.
• Argentina's Crypto Cold Storage Wallet market had a market share of USD 13.73 million in 2024 and is projected to grow at a CAGR of 10.1% during the forecast period. Argentina's the growing need for secure asset management
• Colombia Crypto Cold Storage Wallet market is projected to witness growth at a CAGR of 9.0% during the forecast period, with a market size of USD 7.27 million in 2024.
• Peru Crypto Cold Storage Wallet market is projected to witness growth at a CAGR of 9.4% during the forecast period, with a market size of USD 6.70 million in 2024.
• Chile Crypto Cold Storage Wallet market is projected to witness growth at a CAGR of 9.5% during the forecast period, with a market size of USD 5.88 million in 2024.
• The Rest of Latin America's Crypto Cold Storage Wallet market is projected to witness growth at a CAGR of 8.3% during the forecast period, with a market size of USD 13.16 million in 2024.

Middle East and Africa Crypto Cold Storage Wallets

According to Cognitive Market Research, the global Crypto Cold Storage Wallet market size was estimated at USD 1634.5 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 32.69 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.5% from 2024 to 2031..

• The GCC Countries Crypto Cold Storage Wallet market is projected to witness growth at a CAGR of 10.3% during the forecast period, with a market size of USD 13.99 million in 2024. Crypto Cold Storage Wallet sales flourish due to the increasing awareness of the importance of securing digital assets.
• The Egypt Crypto Cold Storage Wallet market is projected to witness growth at a CAGR of 9.8% during the forecast period, with a market size of USD 3.43 million in 2024.
• The South Africa Crypto Cold Storage Wallet market is projected to witness growth at a CAGR of 10.5% during the forecast period, with a market size of USD 5.17 million in 2024. Crypto Cold Storage Wallet sales flourished in South Africa due to increasing regulatory environment
• The Turkey Crypto Cold Storage Wallet market is projected to witness growth at a CAGR of 9.0% during the forecast period, with a market size of USD 2.81 million in 2024.
• The Nigeria Crypto Cold Storage Wallet market is projected to witness growth at a CAGR of 8.6% during the forecast period, with a market size of USD 3.43 million in 2024.
• The Rest of the MEA Crypto Cold Storage Wallet market is projected to witness growth at a CAGR of 8.5% during the forecast period, with a market size of USD 3.86 million in 2024.

Crypto Cold Storage Wallets Market Analysis

Crypto Cold Storage Wallet Market Type Segment Analysis

According to Cognitive Market Research, Hardware wallets are the largest segment of the Crypto Cold Storage Wallet market. Hardware wallets do offer very robust security since they store private keys offline and are hard to hack as well as place malware. These are easy to use with a physical means of controlling cryptocurrencies, which is liked by most individual as well as institutional investors.

Another segment that is growing pretty fast is paper wallets. Paper wallets are considered a safe way of storing cryptocurrency, as they basically mean printing out private keys and public addresses on paper, so they remain completely offline. This segment is picking up strongly especially with cost-conscious user segments that do not require additional hardware.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Crypto Cold Storage Wallets Industry. Request a Free Sample PDF!

Crypto Cold Storage Wallet Market Application Segment Analysis

According to Cognitive Market Research, Individual users usually dominate a Crypto Cold Storage Wallet market. Such users include those who are interested in cryptocurrencies and regular investors who are seeking safe ways to store their digital assets. Individual users will often be more interested in ease of use and convenience, and because of this, hardware and paper wallets are the most commonly used among these kinds of investors.

Institutional investors happen to be the fastest-growing segment in the crypto cold wallet space. With the increasing entrance of more financial institutions, hedge funds, and corporations into the cryptocurrency space, the demand for secure storage solutions is rapidly growing. Institutional investors also require robust security measures as well as compliance with regulatory standards in adopting advanced cold storage solutions designed according to their needs. This shift is fueling innovation and growth in the cold storage wallet market as companies develop such products specifically designed for institutional use.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Crypto Cold Storage Wallets Cryptocurrency type Segment Analysis

Crypto Cold Storage Wallet Market Cryptocurrency type Segment Analysis

According to Cognitive Market Research, the leading segment in the Crypto Cold Storage Wallet market is Bitcoin. Being the first and most recognized cryptocurrency, Bitcoin takes up a big market share and is utilized by both individual users and institutional investors. Its high reputation and liquidity have made it the most important one to develop a cold storage solution for.

Another rapidly growing segment is stablecoins. Stablecoins pegged to the fiat currency value, such as the US Dollar, are gaining more traction due to their ability to maintain a stable value. Because many are using this for transactions, some even storing value in this, demand for secured storage solutions for these assets is increasing. This growth is part of the broader trend in which stablecoins are increasingly integrated into the cryptocurrency ecosystem. This makes them a critical portion of the cold storage wallet market.

• Bitcoin
• Ethereum
• Altcoins
• Stablecoins

Crypto Cold Storage Wallets End-use industry Segment Analysis

Crypto Cold Storage Wallet Market End-use Industry Segment Analysis

According to Cognitive Market Research, Financial services continue to be the leading segment in the Crypto Cold Storage Wallet market. It involves banks, investment houses, and hedge funds that are fast embracing cryptocurrencies as part of their investment portfolios. Its nature places a high premium on stringent security considerations, especially considering the capital at play and regulatory guidelines mandating such high-security standards.

The gaming segment is growing rapidly. Cryptocurrency and blockchain technology are becoming very integral to the gaming industry, and many games now allow players to earn, trade, and use digital assets. Cold storage solutions in this segment are growing rapidly as gamers seek secure methods to store their in-game currencies and NFTs, that is, non-fungible tokens.

• Financial Services
• E-commerce
• Gaming
• Retail

Crypto Cold Storage Wallets Security Features Segment Analysis

Crypto Cold Storage Wallet Market Application Segment Analysis

According to Cognitive Market Research, the multi-signature wallets take the lead in Crypto Cold Storage Wallet. These wallets require several keys to authorize a transaction as various persons have control over the wallet because of the introduction of exclusive multitasking control, hence enhancing security. It is thus quite appealing to businesses and institutional investors when handling an enormous amount of cryptocurrency, hence making multi-signature wallets popular choices for holding assets securely.

The fastest-growing segment is encrypted wallets. Users become more conscious of the risks associated with hacking and data breaches, seeking added layers of protection for their digital wealth. Encrypted wallets make use of advanced techniques in encryption to safeguard the user's private keys and data on any kind of transaction. Therefore, they become very attractive for both types of users, including individuals and organizations who need to improve the security for their digital assets. Given these increasing fears about hacking and data breaches, the demand for encrypted wallets is rapidly moving upward.

• Multi-signature Wallets
• Biometric Wallets
• Encrypted Wallets

Author's Detail

Sneha Mali

Research Analyst at Cognitive Market Research

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I am a research analyst working in various domains including the Consumer Goods domain, and my primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. I have knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively. I stay up-to-date with the latest research trends, methodologies, and technologies to ensure that my research is accurate, relevant, and impactful.

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