According to the latest report by IMARC Group, titled “Cryptocurrency Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global cryptocurrency market to continue its robust growth during the next five years.
Cryptocurrency refers to digital or virtual money that utilizes cryptography to monitor, secure, and monitor transactions along with preventing counterfeit. It functions through decentralized networks based on blockchain technology. The transactions are encrypted through public or private keys and are directly linked with the user’s digital wallet. Unlike conventional currency, cryptocurrency is not issued by a centralized authority and faces nominal interference or manipulation from the government. Cryptocurrency also provides enhanced portability, divisibility, inflation resistance, and transparency.
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Market Trends:
Growing digitization and increasing penetration of high-speed internet are driving the cryptocurrency market. Furthermore, the legalization of purchase, sale, or trade of virtual currencies across various developed nations is also augmenting the market growth. The distributed ledger or blockchain technology has mitigated the risk of data manipulation and fraudulent transactions. It enables the users to monitor real-time changes during the transaction, thereby ensuring data security and immutability of the transactions. Additionally, easy access to online trading platforms via smartphones, the development of bitcoin cash and bitcoin lite, and the growing market capitalization of the industry are further anticipated to drive the market growth in the coming years.
Cryptocurrency Market 2021-2026 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Advanced Micro Devices Inc.
- Alphapoint Corporation
- Bitfury Holding B.V.
- Coinbase Inc.
- Cryptomove Inc.
- Intel Corporation
- Microsoft Corporation
- Quantstamp Inc.
- Ripple Labs Inc.
- Xilinx Inc
The report has segmented the market on the basis of type, component, process, application and region.
Breakup by Type:
- Bitcoin
- Ethereum
- Bitcoin Cash
- Ripple
- Litecoin
- Dashcoin
- Others
Breakup by Component:
- Hardware
- Software
Breakup by Process:
- Mining
- Transaction
Breakup by Application:
- Trading
- Remittance
- Payment
- Others
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Breakup by Region:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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