Global Bitcoin Technology Market Size, Share, Future Prospects and Forecast 2020-2026
The bitcoin technology market is anticipated to grow at a lucrative growth during the forecast period. Significant advantages over the conventional banking system are expected to provide growth to the market during the forecast period. Bitcoin technology market is growing owing to the fact that the use of bitcoin will reduce the inflation treats to almost zero. The transaction done using bitcoin costs no additional charges, hence profiting both the seller and the buyers. In addition to this, the low transaction fees of bitcoins will also benefit the SME’s with a limited budget. Moreover, significant funding to the bitcoin start-ups is also fuelling the market growth.

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Restriction by the government of various economies on the cryptocurrency is a major restraining factor for the bitcoin technology market. As of July 2020, Bitcoin is illegal in Algeria, Egypt, Morocco, Bolivia, Ecuador, Nepal, and Pakistan. Moreover, several countries have banned banking related to cryptocurrency which includes several major economies such as China, Canada, Russia, Saudi Arabia, and Taiwan. Moreover, the mining of bitcoin has adversely affected the environment. In 2018, as per the study of the Technical University of Munich, bitcoin has emitted over 22 MT of carbon dioxide which is more than the total emissions of several cities such as Vienna and Las Vegas. It is a key challenge for the bitcoin technology industry witnessing to the upcoming climate change in the near future.

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Global Bitcoin Technology Market Segmentation

By Services

Exchanges

Remittance Services

Payment & Wallet

By End-user

BFSI

E-Commerce

Media & Entertainment

Hospitality

Other

Regional Analysis

North America

US

Canada

Europe

UK

Germany

Italy

Spain

France

Rest of Europe

Asia-Pacific

China

India

Japan

Rest of Asia-Pacific

Rest of the World

Company Profiles

Binance

Bitfinex (iFinex Inc.)

BitGo Inc.

BitMain Technologies Holding Co.

BitMEX (HDR Global Trading Ltd.)

BitPay Inc.

BitPesa (BTC Africa S.A)

Bitstamp Ltd.

Bittrex International GmbH

Bitwala GmbH

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