Cryptocurrency Exchanges Market Scope
Cryptocurrency exchanges are platforms that facilitate the trading of cryptocurrencies for other assets, such as digital and fiat currencies. It acts as an intermediary between a buyer and a seller and makes money through commissions and transaction fees. A cryptocurrency exchange is the same as an online brokerage for cryptocurrencies, tokens, and other digital assets. The exchanges offer investments options for active traders looking to buy, sell, or hold digital assets including Bitcoin, ethereum, and litecoin.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | eToro (United Kingdom), Binance (China), Coinbase, Webull (United States), Kraken (United States), Abra (United States), CEX.IO (United Kingdom), Gemini (United States), Bittrex (United States) and BlockFi (United States) |
CAGR | % |
Global Cryptocurrency Exchanges is a fragmented market due to the presence of various players. The players are focusing on investing more in Launching New Services. These will enhance their market presence. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Cryptocurrency Exchanges market throughout the predicted period.
eToro (United Kingdom), Binance (China), Coinbase, Webull (United States), Kraken (United States), Abra (United States), CEX.IO (United Kingdom), Gemini (United States), Bittrex (United States) and BlockFi (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Crypto.com (Singapore), bitFlyer (Japan) and FTX (The Bahamas).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Cryptocurrency Exchanges market by Type and Region with country level break-up.
On the basis of geography, the market of Cryptocurrency Exchanges has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
On 15th December 2021, Binance has announced the launch of Crypto Exchange in Indonesia through a joint venture with a consortium led by MDI Ventures an investment arm of Telkom Indonesia. The launch helps Binance to grow the blockchain and cryptocurrency over the globe. The new platform will provide asset management infrastructure and technology to support the development of the new exchange.
As per the United States Guidelines, “Crypto exchanges fall under the regulatory scope of the Bank Secrecy Act (BSA) and must register with the Financial Crimes Enforcement Network (FinCEN). They are also required to comply with anti-money laundering (AML) and combating the financing of terrorism (CFT) obligations.”
Influencing Trend:
The popularity of Cryptocurrency over the Globe
Market Growth Drivers:
A large Number of Cryptocurrency Investors
Challenges:
Regulatory Guidelines on the Cryptocurrency Exchanges
Restraints:
High Fees for Credit and Debit Purchases and Unavailability of crypto-to-crypto trading
Opportunities:
Rising Value of Bitcoin, Ether, Dogecoin, and Others
Key Target Audience
Cryptocurrency Exchanges Providers, Regulatory Bodies, Potential Investors, Research and Development Institutes and Others