COVID-19 Pandemic is Expected to Have a Positive Impact
The COVID-19 pandemic has affected the revenue flow in numerous industries around the globe. Several markets crashed as a result of the pandemic, since the investors were dropping assets to generate funds to keep their businesses afloat. However, the pandemic has had a positive impact on the global crypto trading platform market. Individuals around the globe were seeking additional revenue streams, and crypto trading has become a popular method due to the higher value of crypto coins. Studies show that crypto trading saw a significant rise during the pandemic. The global crypto trading platforms market is expected to see a growth in transaction volume in the coming years, driven by the higher awareness regarding crypto trading during the current pandemic period.
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App-based Crypto Trading Platforms Accounted for the Highest Market Share in 2020
Absolute Markets Insights found that the end-users were largely relying on mobile app-based crypto trading platforms for making crypto transactions. There has been a significant growth in the number of smartphones around the globe. Smartphone shipments are expected to reach about 1.48 billion units towards the end of 2023, predominantly driven by the advancement in manufacturing technology that helps in the production of affordable smartphones. Individuals therefore can download crypto trading applications from Android Playstore or iOS app store with ease, and many of these applications can be used for free. App-based crypto trading can also be performed from any location, which in turn increases the trading flexibility of these platforms. The ease of operating smartphone applications, coupled with the flexibility and affordability offered by these applications, has aided for in app-based crypto trading platforms to account for the highest revenue share in the global crypto trading platforms market.
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Asia Pacific Region to Show the Highest Growth Rate During the Forecast Years (2021-2029)
Based on Absolute Markets Insight's findings, the Asia Pacific region is expected to show the maximum growth rate during the forecast years in the global crypto trading platforms market. The growing interest regarding crypto currency trading across Asia Pacific countries, especially Australia, Singapore, India, amongst others, coupled with the greater proliferation of internet and smartphone in rural regions in the Asia Pacific, is expected to fuel the growth of the Asia Pacific crypto trading platforms market. Furthermore, the region is also seeing a growth in companies that are offering crypto trading at nominal rates. WazirX, for instance, is an Indian crypto trading platform that also has its own crypto token naked WRX. There has been over 1 billion WRX coins thus far, and the end-users can begin crypto trading by providing KYC documents. This platform can be used across both mobile phones as well as computers/laptops, thereby providing greater trading options to the end-users. The platform has been built to handle a surge in demand, as it can be scaled to tackle the growth in traffic with ease. Several start-ups based on crypto trading are emerging in other countries such as Singapore, Australia, amongst others, which is another reason that is propelling the global cypto trading platforms market.
Competitive Landscape:
Some of key players operating in the global crypto trading platforms market are Binance, Bisq, Bitfinex, Bitstamp., Cash App Investing LLC, Coinbase, CoinDCX, Coinmama, Crypto.com, Dunamu Inc., eToro, Gemini Trust Company, LLC., Huobi, Mandala Acquisition LLC, OKEX.COM, Payward, Inc. (Kraken), Robinhood, Social Finance, Inc. , TradeStation Securities, Inc, WazirX, Webull Crypto LLC., amongst others.
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Global Crypto Trading Platforms Market
By Platform Type
- Web-based
- App-based
By End-Users
- Individuals
- Businesses
- Small and Medium Enterprises
- Large Enterprises
By Crypto Type
- Bitcoin (BTC)
- Ethereum (ETH and ETH 2)
- Litecoin (LTC)
- Cardano (ADA)
- Binance Coin
- Dogecoin
- Solana
- Tether
- Others
By Type
- Freemium
- Paid (Subscription or Commission)
By Region
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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