Bitcoin Exchange Industry is Expected to Reach $8 Billion by 2028 -Binance, Coinw, Bithumb, Upbit, BitMEX, OKEx, Bittrex, Bitfinex, Huobi, Kex, Bitstamp, BTCC

The Global Market revenue stood at a value USD 329.4 Million in the year 2021 and is expected to grow to exhibit a Compound Annual Growth Rate (CAGR) of 12.7% during the forecast period;
The Bitcoin Exchange research report studies primary and secondary research in order to analyze the data effectively. The market study further also draws attention to crucial industry factors such as global clients, potential customers, and sellers, which instigates positive company growth. In order to gauge the turning point of the businesses, significant market key players are also enlisted in order to deliver readers with in-depth analysis about industry strategies.

The Bitcoin Exchange report is highly structured into a region-wise study. The regional analysis comprehensively done by the researchers highlights key regions and their dominating countries accounting for substantial revenue share in the market. The study helps understand how the market will fare in the respective region, while also mentioning the emerging regions growing with a significant CAGR.

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The report provides a comprehensive analysis of company profiles listed below:

Binance, Coinw, Bithumb, Upbit, BitMEX, OKEx, Bittrex, Bitfinex, Huobi, Kex, Bitstamp, BTCC

Bitcoin Exchange Market Types:

Pay To Public Key Hash, Pay To Public Key, Pay To Script Hash.

Bitcoin Exchange Market Applications:

E-Commerce, Retail, Investment

Drivers:

Rampant Penetration of Mobile Phones around the World

One of the primary reasons driving the market's growth is the increasing adoption of smartphones worldwide. As a result, users may use their cell phones to access bitcoin exchange platforms. To adequately address their clients' needs and ambiguities, such as supported assets, payment methods, fees, and security, several platform providers are focusing on giving their services through mobile phones. For instance, Kraken, a Cryptocurrency Exchange-Platforms Market provider, announced the debut of its cryptocurrency exchange mobile application in the United States in June 2021. Customers of Kraken can use this app to buy and sell crypto tokens using their mobile phones. In addition, other mobile applications, such as coin base, Gemini, Bitmart, Cash, and Bisq, to name a few, make it easier for the user to exchange cryptocurrencies.

Increase in the Number of Crypto Users

The growing number of crypto users around the world has a significant impact on industry growth. It turns out that Bitcoin's value continues to climb owing to various causes that are drawing people's attention toward crypto-currency. Increased acceptance of payment apps like PayPal has made crypto-currency more accessible to a far more significant number of consumers. In addition, the purchase of Bitcoin by publicly traded corporations demonstrates a high level of trust in the currency's appreciation. Bitcoin's past pattern of closely following its halved stock-to-flow model indicates an optimistic and ambitious forecast. According to Crypto.com, a Cryptocurrency Exchange-Platforms Market provider, the total number of cryptocurrency users worldwide surpassed 106 million in January 2021. This can be linked to the growing popularity of Defi, the expanding number of crypto service providers, and financial institutions' quick adoption of cryptocurrency. Morgan Stanley, for example, began selling bitcoin funds to its wealth management clients in March 2021. As a result, the company expanded its offers and improved the client experience.

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Recent Developments:

September 2021: Fnatic, an esports group, announced a partnership with Crypto.com. The former company hopes to grow its network of partners due to this collaboration. It will also provide Fnatic fans with cryptocurrency payment choices.

July 2021: Visa partnered with 50 cryptocurrency firms, including Coinbase and FTX. Due to this agreement, Visa's card program now allows customers to spend and convert digital currencies.

Scope of this Report:

This report segments the global Bitcoin Exchange market comprehensively and provides the closest approximations of the revenues for the overall market and the sub-segments across different verticals and regions.
The report helps stakeholders understand the pulse of the Bitcoin Exchange market and provides them with information on key market drivers, restraints, challenges, and opportunities.
This report will help stakeholders to understand competitors better and gain more insights to better their position in their businesses. The competitive landscape section includes the competitor ecosystem, new product development, agreement, and acquisitions.
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