About Bitcoin Financial Product
Bitcoin is a type of cryptocurrency that is complete bypasses banking institutions as it depends only on the internet to broadcast a trade to the community. Though, the organization to exchange more dominant kinds of currency i.e. USD to bitcoin are lacking or non-existent. Thus, much of the present interest in bitcoin is not because of bitcoin’s usefulness for a currency but instead as a financial product that might offer the return on investment. The transmission is used to broadly refer to a pre-existing asset or right that is transferred from one party to another, or to the creation of an asset or right of which the transfer consists in certifying that the person is the only initial holder.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth. Analyst at AMA Research estimates that European Players will contribute the maximum growth to Global Bitcoin Financial Product market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
TeraExchange (United States), Bitbank, Inc. (Japan), Hashflare (United Kingdom), Nicehash (Slovenia), KnCMiner (Sweden), CEX.IO (United Kingdom), BitFury Group Limited (United States), Bitfinex (Hong Kong), Bitstamp Ltd (Luxembourg), Coinbase (United States) and DigitalX Limited (Australia) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Poloniex Inc (United States) and Unocoin Technoloiges Pvt Ltd (India).
Segmentation Overview
AMA Research has segmented the market of Global Bitcoin Financial Product market by Type (Bitcoin Fund and Bitcoin Futures), Application (Conduct Financial Transactions, Investment and Raising Money) and Region.
On the basis of geography, the market of Bitcoin Financial Product has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, 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). If we see Market by End-User, the sub-segment i.e. Banking will boost the Bitcoin Financial Product market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Cryptocurrency Type, the sub-segment i.e. Bitcoin (BTC) will boost the Bitcoin Financial Product market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technologies in Finance Are Being Implemented To Create Innovative Products and Growing Acceptance by Different Industry Verticals
Market Growth Drivers:
Rising Need for a Decentralized and Secure Digital Payment System, The Booming Economy and Growing Disposable Income and Increasing Use due to Easy Transaction Process
Challenges:
Investors can lend their Bitcoin to others and earn interest. However, there is a risk that the borrower may default on the loan.
Restraints:
Lack of Supervisory Control on the Transactions
Opportunities:
Rising Trust among the Globe for Bitcoin Payment Owing To High-Security Offered By Cryptography
Market Leaders and their expansionary development strategies
In September 2023, Ripple, a leading blockchain and cryptocurrency company, has acquired Fortress Trust, a Nevada-licensed financial services provider for the crypto industry. The purchase expands Ripple’s regulatory licenses and infrastructure to bolster its position in enterprise blockchain solutions.The acquisition provides Ripple with Fortress Trust’s financial, regulatory, and technological infrastructure to serve the growing enterprise cryptocurrency market.
In November 2023, Cboe Digital launched trading and clearing in margin futures on Bitcoin and Ether. With this launch, Cboe Digital will become the first U.S. regulated crypto native combined exchange and clearinghouse to enable both spot and leveraged derivatives trading on a single platform. Committed to bringing trust, transparency and responsible innovation to the crypto spot and derivatives markets.
Argentina: Under the National Constitution of Argentina the only authority capable of issuing legal currency is the Central Bank. Bitcoins are not legal currency strictly speaking, since they are not issued by the government monetary authority and are not legal tender. Therefore, they may be considered money but not legal currency, since they are not a mandatory means of canceling debts or obligations. and Canada: Canada allows the use of cryptocurrencies, including Bitcoin. According to a Financial Consumer Agency of Canada webpage on digital currencies. Canada’s tax laws and rules also apply to digital currency transactions, including those made with cryptocurrencies, and digital currencies are subject to the Income Tax Act. The Canada Revenue Agency (CRA) “has characterized cryptocurrency as a commodity and not a government-issued currency.
Key Target Audience
Cryptocurrency Companies and Exchanges, Wallets Companies, Software/Solutions Providers Companies, Banking and Finance Organizations, Financial Consulting Companies and Market Research Companies
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.