Press release
Bitcoin Exchange Market: Global Industry Analysis and Forecast 2016 - 2024
Conventional currencies are based on gold or silver reserves but Bitcoin is based on mathematics calculations. It follows a software program based on purely mathematical calculations. This program is available in open source environment so that everybody around the world can look into it. Bitcoin can be exchanged through various credit cards and payment gateways including PayPal.
Usages of Bitcoin
Bitcoin Wallet Creation
Wallet to Wallet Bitcoin Transfer
Payment Using Bitcoin
Bill Payment Using Bitcoin
Exchange of Bitcoin with Local Currency
Bitcoin exchange use peer to peer technology to transfer funds with no middle man or central authority involved. All the transactions are controlled by computer network itself, making it fastest payment method available in world. Bitcoin exchange method complete financial transaction within 10 minutes as compared to other currencies which takes one or two days to complete international transactions.. The agility of payment transaction and feature of open source environment are driving the growth of the global Bitcoin exchange market. Another driving factor for this market is very low processing fees for payment transactions due to decentralized process of Bitcoin.
Absence of consumer protection laws is restricting the growth of the market. In the traditional currency, fraudulent transaction from bank account or credit card are subject to repayment of consumer loses. .
Scaling is another factor which is hampering the growth of the global Bitcoin market. The Bitcoin network methodology requires all the previous transaction to be downloaded in user computing device during transaction. The process is time consuming as it take long hours to download all the transactions.
Segmentation of Bitcoin Exchange market on the basis of currency conversion methods:
Credit Cards:
Credit cards are generally issued by a bank authority which promises to pay certain amount of money on behalf of the holder of the credit card. The holder pay that money to bank on or before a duration specified by bank. Other than this feature, credit card are used to buy products on EMI. Bitcoin can be purchased and converted to other traditional currencies by credit cards.
Payment Gateways
A payment gateway is online payment service provider that is used to make payment for e-commerce and online transactions. Payment made through the payment gateways is more secure than credit or debit cards. Now-a-days, there are several payment gateways which facilitate Bitcoin transactions. Some of them are PayPal, Cash in Mail, and Personal Check.
Increasing penetration of internet across the world is paving the way for Bitcoin exchange.. North America holds the biggest scope for the development of Bitcoin exchange with around 313,862,863 internet users, according to Internet World Stats. The U.S. and Canada hold maximum potential for Bitcoin market. Recently, in the past two years, various conferences related to Bitcoin have held in North America region in order to bring awareness among the consumers. Some of them include:
The Future of Money: Cashing Out on Cash
Insight Bitcoin San Diego
Block Chain Conference San Francisco
Insight Bitcoin New York
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Asia-Pacific region is also showing modest growth for the Bitcoin exchange with more than 200 million internet users. This is merely 17% of the total population of Asia-Pacific region. The evolution of LTE technology in the countries including China, India, and Japan will create enhanced infrastructure for internet users. With increasing awareness, the market is expected to observe potential revenue opportunity in this region in the near future.
In Europe, countries such as U.K, Germany, and France are holding good potential for Bitcoin exchange. Latin America and Middle East and Africa, have still not witnessed wide adoption of Bitcoin exchange; however, with increasing awareness about the features offered by Bitcoin, the market is expected to observe substantial growth during the forecast period.
Bitstamp, Bitfinex, Coinbase, Cryptsy, and BTC-e are some of the leading Bitcoin exchange in the world.
The report covers exhaustive analysis on:
Bitcoin Exchange Market Segments
Bitcoin Exchange Market Dynamics
Historical Actual Market Size, 2013 - 2015
Bitcoin Exchange Market Size & Forecast 2016 to 2024
Bitcoin Exchange Current Trends/Issues/Challenges
Competition & Companies involved
Bitcoin Exchange Market Drivers and Restraints
Regional analysis includes
North America
Latin America
Europe
Asia Pacific
Middle East & Africa
Report Highlights:
shifting Industry dynamics
In-depth market segmentation
Historical, current and projected industry size Recent industry trends
Key Competition landscape
Strategies of key players and product offerings
Potential and niche segments/regions exhibiting promising growth
A neutral perspective towards market performance
About Us
Persistence Market Research (PMR) is a full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. PMR boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients’ business needs.
PMR stands committed to bringing more accuracy and speed to clients’ business decisions. From ready-to-purchase market research reports to customized research solutions, PMR’s engagement models are highly flexible without compromising on its deep-seated research values.
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