About the Digital Coin Market
A digitalcoin is a form of electronic currency that uses cryptography to check the veracity of users that attempt to spend the currencies. Such currencies can be used to ensure the stability of national economies, corporations, and individual users. The cryptocurrency can be converted to any real currency, including dollars, euro, yuan, and rubble. Online transaction using digitalcoins is one of the fastest ways of sending or receiving money as the transaction is not subject to any government intervention, chargebacks, or central bank regulations.
Technavio’s analysts forecast the Global Digital Coin Market to grow at a CAGR of 7.33% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the Global Digital Coin Market for 2016-2020. To calculate the market size, the report considers the total supply of digitalcoins of the top companies that operate from the Americas, APAC, and EMEA.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Digital Coin Market 2016-2020
Technavio recognizes the following companies as the key players in the Global Digital Coin Market: Bitcoin, Ethereum, Ripple, Litecoin, and Dogecoin.
Other Prominent Vendors in the market are: Dash, Factom, MaidSafeCoin, Peercoin, Novacoin, and Namecoin.
Commenting on the report, an analyst from Technavio’s team said: “A noteworthy trend in the digital coin market is the huge capital investments in digital coin start-ups. A large number of venture capital firms supported digitalcoin start-ups, especially in countries like France and Switzerland, in 2015. Many venture capital firms invested seed capital in digitalcoin firms during their start-up stage. The total funding by venture capital stood at an estimated $670 billion. The market remained stable in the third quarter of 2015, though a decline in capital investments followed, compared to the first two-quarters of the same year.”
According to the report, a key driver of growth is the low transaction costs associated with digital currency. The United Nations recognizes digital currency as a legal tender that runs day and night in 45 national currencies. Technology companies, including Alpha Point, are supporting digital currency exchanges. This is helping many financial institutions access order routing to the digital currency market. The top vendors are trying to leverage the digital currencies to ease the streamlining of international transfer. This will also help investors in the foreign exchange market to participate actively without incurring huge transaction costs
Further, the report states that one challenge that could hamper market growth is regulatory issues. Government bodies are very likely to propose rules to regulate digital currency exchanges and wallet providers. "
Bitcoin, Ethereum, Ripple, Litecoin, Dogecoin, Dash, Factom, MaidSafeCoin, Peercoin, Novacoin, Namecoin