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<p>The market for hardware wallets is predicted to expand driven by demand for highly transparent distributed ledger technology in the business sector due to the recent increase in crypto prices.</p><h2 id="header-0">Growth rate to expand in 5 years</h2><p>The United States Hardware Wallet Market report stated that the market for hardware wallets in the United States is predicted to expand at a <a href="https://www.researchandmarkets.com/reports/5702022/united-states-hardware-wallet-market-by-type?utm_source&#61;CI&amp;utm_medium&#61;PressRelease&amp;utm_code&#61;vvspkb&amp;utm_campaign&#61;1811558&#43;-&#43;United&#43;States&#43;Hardware&#43;Wallet&#43;Market&#43;Analysis&#43;Report&#43;2022-2028&#43;-&#43;Massive&#43;Increase&#43;in&#43;Investments&#43;in&#43;Hardware&#43;Powered&#43;by&#43;Cryptocurrencies&#43;to&#43;Drive&#43;Demand%2fGrowth&amp;utm_exec&#61;chdo54prd" rel="noopener noreferrer nofollow">compound annual growth rate</a> (CAGR) of 26.5% over the next five years.A hardware wallet is meant to hold a user’s private keys in a safe wallet, one of the vital components of a blockchain database. Hardware wallets are resistant to computer infections that steal cryptocurrency and cryptographic information.</p><p>The rising demand for cryptocurrencies is boosting the market for hardware wallets, which enable traders to securely store their private keys while preserving their personal information.</p><h2 id="header-1">Other factors driving market expansion aside from crypto prices</h2><p>A spike in the development of new technologies inside the digital currency or cryptocurrency sector is also expected to help in market expansion.</p><p>Aside from that, a large surge in investments in hardware powered by cryptocurrencies will also propel the market development of hardware wallets.</p><p>Moreover, government initiatives to establish and regulate cryptocurrency systems in their respective business sectors are growing. The United States is at the forefront of establishing a legal and regulatory framework for managing cryptocurrencies on a national scale, which is expected to create a substantial potential for the growth of the hardware wallet market in this country.</p><p>Together, these factors are anticipated to provide expanding opportunities for hardware wallets in the next years.</p><p>Investing in cryptocurrencies has surged as a consequence of <a href="https://micky.com.au/bitcoin-jumps-over-23k-is-this-beginning-of-new-bull-market/" rel="noopener noreferrer nofollow">Bitcoin’s value growth</a>. Bitcoin is the most valued cryptocurrency, having a market cap of billions of dollars, due to the widespread use of cryptocurrencies by major businesses such as PayPal and Xbox.</p><p>Additionally, Ethereum, the second-largest cryptocurrency, has grown by 750% since 2020.</p>

Massive growth for market of hardware wallets in US seen due to hike in crypto prices – report

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