Market Scenario:

Airbitz is one of the prominent player in cryptocurrency market. The company has designed a Bitcoin wallet that offers strong privacy levels, security and seamless platform that is quite familiar and usable to the masses. The wallets designed by companies are always auto encrypted, provides back up of confidential data, and operates even when Airbitz servers go down. Bitcoin Suisse is a key player in cryptocurrency market. The company has recently announced that it is working with Falcon Private Bank to provide additional cryptocurrency service such as Ether, litecoin and bitcoin cash (BCH) to the bank blockchain asset management services. Bitgo company empowers enterprises to adopt digital currencies into their existing financial systems securely. BitGo founded multi-signature technology, key recovery solutions, zero confirm transaction services and other safety and usability protocols that have empowered enterprises to use digital currencies. The company provides secure platform and services for payments, management risk, compliance, processing, treasury, logistics and business to business and business to customer application.

North America region is dominating the cryptocurrency market with the largest market share owing to the high purchasing power of the people, developed network infrastructure, advanced technology adoption by finance sector and rising security and value of cryptocurrency. Asia-Pacific region is expected to grow with the highest CAGR owing to negligible fees for transaction, increase in purchasing power of people, elimination of third party and less chances of security threats.

By component segment the cryptocurrency market consists of by type and end-user. By type it includes bitcoin, ethereum, litecoin, zcash, dash, monero, ripple, others. Ethereum is a software platform based on blockchain technology. It has its own decentralized platform. The benefits of ethereum decentralized platform includes, strong security level such that the third party cannot make any changes to the existing data. There is no chance of corruption due to the application that is built around a network that consists of certain protocols such as consensus, therefore making censorship impossible.

The major growth driver of cryptocurrency market includes rising demand for better income saving structure, advanced technology implementation in improving banking network, safety and security associated with the currency, increase in purchasing power of people, elimination of third party and less chances of security threats. BFSI accounts for high market share owing to high adoption of online banking, contactless payments and mobile banking application and increasing number of universal cryptocurrencies companies.

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Key Players:

The prominent players in the cryptocurrency market are- 37Coins (U.S.), Airbitz (U.S.), Bips (Denmark), Bitcoin Suisse (Switzerland), Bitgo (U.S.), Bitwala (Germany), Bitway (U.S.), Bitgo (U.S.), Bitinstant (U.S.), Coincheck (Japan), Gatecoin (Hong Kong) and others.

Segments:
Cryptocurrency market for segment on the basis of type and end-user.
Cryptocurrency Market by Type:
Bitcoin
Ethereum
Litecoin
Zcash
Dash
Monero
Ripple
Others

Cryptocurrency Market by End-User:
Individuals
SMEs
Large Enterprises
Others
Intended Audience
Investors and consultants
System Integrators
Research/Consultancy firms
Technology solution providers
IT Solution Providers
Distributors & Retailers
Software Providers
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