“Crypto industry is growing by leaps and bounds and with its growth comes the mainstream users that will provide parabolic growth in the crypto sphere. This growth is inevitable and so are the wallet addresses that are created by users for transacting the cryptocurrencies. Here we are going to explore whether it is possible for crypto wallet addresses to become as common as email addresses or the mobile phones”.
The History is the Evidence
The technologies grow at a very rapid pace and every disruptive technology we have seen in the past was thought to be a niche and belittled by the so called sane people of that time. The Internet was never thought to become one of the most important parts of our life, but here it is today. Emails were considered to be a niche in the beginning until they ceased to be a niche. Blockchain technology and the cryptocurrency back in 2009 was unheard of but today 5 out of 10 people would be very much aware of the cryptocurrency as it has started to become mainstream. The same way the smartphone market was initially very small but today almost half the population of the world holds a smartphone in their hand. Thus, crypto wallets can be as common as any of these technologies have become by the end of this decade.
What will make the Crypto Wallets so common?
The Crypto is Spreading like Fire
The year 2021 saw gains of the lifetime for the crypto holders and that news has spread like fire in the mainstream media and thus the mainstream public. This has created a huge surge of retail investors to interact in one way or the other with the crypt industry. For every user, there is a requirement of a crypto wallet and for different cryptocurrencies different wallets are required. This has kick started a process of exponential growth of crypto wallets. At present there are over 81 Million crypto wallet users around the world.
The NFTs Added Fuel to Fire
The sudden surge in the demand for the Non-Fungible Tokens (NFTs) has added fuel to the fire and with multiple use cases of the NFTs has opened a whole new market of art and culture and even the social media platforms for the cryptocurrency wallets to be created. This will provide exponential growth to crypto wallets.
The Crypto Will be Regulated
At present many people fear crypto to be a risky venture that is being used only for criminal activities and money laundering. But with the government regulations rolling out this year, more and more people will come to have a taste of this highly innovative technology.
Metaverse and Play to Earn is Going Mainstream
With the advent of the concept of Metaverse and the play to earn games, there is going to be an explosion in the number of crypto wallets there are as every user of Metaverse and play to earn games will require a crypto wallet to interact with these technologies.
Disclaimer: The article should not be considered as any financial advice. It is advisable to conduct thorough research before investing.
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