Global Cryptocurrency Market With Top Companies Bitfinex, BitFury, Bitstamp., Coinbase, Coinsecure, Litecoin, OKEX Fintech

Cryptocurrency are digital medium of exchange, alternative to conventional currencies such as US$ or Euros. These utilize digital information exchange based on the principles of cryptography, to provide secure means of transactions and in many cases provides anonymity. In 2009, Bitcoin became the first decentralized digital currency, which leads to the introduction of over thousand other digital currencies in the market.

The main key players in the industry are-
Bitfinex, BitFury Group Limited, Bitstamp Ltd., Coinbase, Coinsecure, Litecoin, OKEX Fintech Company Limited, Poloniex Inc., Ripple, Unocoin Technologies Private Limited, and ZEB IT Service Pvt. Ltd.

What does all the regional segmentation cover? Can the country of specific interest be added?
Currently, the research report pays particular attention to the following regions:
North America (United States, Canada, Mexico), Europe (Germany, United Kingdom, France, Italy, Russia, Spain, etc.), South America (Brazil, Argentina, etc.) and Middle East and Africa (Saudi Arabia, South Africa, etc.)

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Can we add or profile a new company according to our needs?
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Energy is utilized intensively in securing the blockchains. Most popular form, proof of work (POW) block chain requires significant amount of energy. According to a press release by bitconnect.co, the Bitcoin (BTC) blockchain requires energy equal to a small country for securing payment. Moreover, increase in blockchain security leads to increase in the mining difficulty. Many other factors fueling the market growth include the growing inclination of the population towards digital assets, increasing media reporting, number of investors, and security of the payments among others. From March 2017 to September 2017, the cryptocurrency market witnessed an exponential increase of capital to around 599.8%. Moreover, growing awareness and adoption of digital exchange, is expected to drive the industry growth over the forecast period.

Significantly large untapped potential base in the payment industry is expected to boost growth prospects over the forecast period

Increment in the digital currency value during the past years were mainly due to the increasing transaction volumes mostly for BTC. In 2016, BTC generated a revenue of around US$ 130 billion, though it is expected that transaction volumes will witness considerable surge in the near future in particular segment. However, Paypal recorded a volume of over US$ 735 billion in 2016, whereas, Western Union volumes accounted approximately 4.61% higher than BTC, pegged at over US$ 730 billion. Therefore, it can be determined that the overall utilization of the digital assets as a form of payment is still at its nascent stage, and promises to hold significant growth in the near future.

Drawbacks in the scalability and its legalization hindering the market growth

As of September 2017, the industry is estimated to be valued at around US$ 166 billion (according to CoinMarketCap), is still too far from actual user penetration. Number of users participating in the ecosystem is expected to witness considerable surge, led to the increase in the scalability issues. However, regulations and legalization are expected to be the prominent factors that will hinder the cryptocurrency market growth. For instance, in 2017, regulations in China banned the initial coin offerings (ICO) and halted the trading of virtual currencies, mainly due to the lack of centralized control. However, many other developed and emerging countries are planning initiatives to legalize these currencies. U.S., Singapore, Russia, and Switzerland are among the prominent countries that are expected to witness considerable penetration over the forecast period.

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