Increase in proliferation of malicious software and recognition of virtual currencies by the developed countries drive the market. However, security issues and lack of financial measures in standardizing the virtual currencies restrain virtual currency market growth.
The less developed financial infrastructure of countries having high smartphone usage, for instance, in Kenya, half of the national GDP is operated by digital currency is opportunistic for the market.
The global virtual currency market is segmented based on type and region. On the basis of type, it is divided into Bitcoin, Litecoin, Dash, Peercoin, Dogecoin, and Primecoin. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Key players operating in this market are Coinbase, Elliptic, Ripple, Bitpay, Safello, Xapo, milliPay Systems, CoinJar, GoCoin, and Unicoin.
- The study provides an in-depth analysis of the global virtual currency market and current & future trends to elucidate the imminent investment pockets.
- Information about the key drivers, restrains, and opportunities and their impact analysis on the market size are provided.
- Porters Five Forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- The quantitative analysis of the market from 2017 to 2023 is provided to determine the market potential.
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