Fluctuations in monetary regulations are expected to drive the growth of the Europe’s cryptocurrency market. According to TechSci Research report, “Europe Cryptocurrency Market By Offering (Hardware & Software), By Process (Mining & Transaction), By Type (Bitcoin, Ethereum, Bitcoin Cash, Ripple, Dashcoin, Litecoin, Others), By End User (Banking, Real Estate, Stock Market & Virtual Currency), By Country, Competition, Forecast & Opportunities, 2025”, Europe cryptocurrency market is expected to witness substantial CAGR during the forecast period. The high cost of cross-border remittance is one of the major factors accounting for the growth of the Europe’s cryptocurrency market.
The Important Aspects of the Europe Cryptocurrency Market
the transparency of distributed ledger technology is expected to bode well for the growth of the Europe cryptocurrency market through the forecast period. In addition to this, high remittances in developing countries are positively influencing the growth of the Europe’s cryptocurrency market. Also, high growth in venture capital investment is making headway in the growth of the Europe cryptocurrency market. Along with this, increased investment in blockchain technology provides favorable opportunities for advancements in the cryptocurrency industry.
However, there are some factors that might act as major impediments to the growth of the Europe cryptocurrency market through 2025 including lack of regulations and uncertainty regarding the same. Moreover, due to concerns in terms of standardization and interoperability, the regulatory status of cryptocurrency remains uncertain, which might hamper the growth of this market through 2025.
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Europe’s cryptocurrency market can be segmented based on offering, process, type, end user, company, and region. Based on type, the market can be categorized into bitcoin, Ethereum, bitcoin cash, ripple, dash coin, litecoin, and others. Out of these, the bitcoin segment dominated the market until 2019 and is expected to grow at the highest CAGR during the forecast period on account of growing awareness among investors along with the availability of larger returns. In terms of process, the market is fragmented into mining & transaction. Among them, the transaction segment is estimated to dominate the market over the next five years on account of several advantages it provides, such as enhanced transactional security, a decentralized system, protection from fraud, and low fees. Furthermore, factors such as quick international transfers and protection from consumer chargebacks are further boosting the growth of the segment in the region.
The Major competitors in Europe Cryptocurrency Market
- Intel Corporation
- NVIDIA Corporation
- Microsoft Corporation
- Xilinx, Inc.
- Advanced Micro Devices, Inc.
- AlphaPoint Corporation
- Amazon.com, Inc.
- BitGo
- BTL Group Ltd. (Blockchain Tech)
- BitFury Group
- Coinbase UK, Ltd.
- 21 Inc.
- Ripple Labs Inc., among others, is the leading player operating in the Europe’s cryptocurrency market. The players are adopting several growth strategies to enhance the market scenario of cryptocurrency.
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“Europe cryptocurrency market is forecast to register high growth in the market over the next five years on account of the high level of knowledge in people about cryptocurrencies. Furthermore, favorable government regulations in the region are further boosting the market growth for cryptocurrency over the coming years. In addition to this, increasing adoption of the digital currency by several traders is further anticipated to propel the market growth through 2025”, said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Europe Cryptocurrency Market By Offering (Hardware & Software), By Process (Mining & Transaction), By Type (Bitcoin, Ethereum, Bitcoin Cash, Ripple, Dashcoin, Litecoin, Others), By End User (Banking, Real Estate, Stock Market & Virtual Currency), By Country, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of Europe’s cryptocurrency market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Europe cryptocurrency market.
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