About Bitcoin Payment System
Bitcoin payment system is a platform that allows the users to transact easily digitally in real-time, it allows the purchase and selling of goods through bitcoins as money. It involves the bitcoin payment by entering the ID and a one-time password at the time of the transaction. This technology utilizes the peer to peer technology and operates under no authority or banks and manages the transaction collectively by the network.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. 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.
Mt. Gox (Japan), Coinbase (United States), Coinsetter LLC (United States), BitPay (United States), Nvidia Corporation (United States), BitcoinX (United States), GMO Payment Gateway, Inc. (Japan), Ikajo International (Netherlands) and PaySpacelv (Latvia) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Bitcoin Payment System market by and Region.
On the basis of geography, the market of Bitcoin Payment System 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 Components, the sub-segment i.e. Hardware will boost the Bitcoin Payment System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment, the sub-segment i.e. Cloud-based will boost the Bitcoin Payment System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Features, the sub-segment i.e. Decentralize Identity will boost the Bitcoin Payment System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Business will boost the Bitcoin Payment System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Emerging Cryptocurrency Trend Around the World and Introduction of Progressive Payment Processing Solutions
Market Growth Drivers:
Growing Digitalization Across the World and Demand for Lower Risks Transaction in the Digital Payment
Challenges:
Misuse of Bitcoin Payment System Might Hinder the Growth for the Market
Restraints:
Privacy and Data Theft related Risk Associated with Bitcoin Payment System
Opportunities:
Technological Advancement in the Bitcoin Payment System Market and Surging Demand for Bitcoin Payment System from Developing Nations
Market Leaders and their expansionary development strategies
On 4th February 2020, BitPay, the world’s largest provider of Bitcoin and cryptocurrency payment services, in a move applauded by merchants, consumers, and the Bitcoin ecosystem, announced that the company will soon allow all BitPay invoices to be paid from any Bitcoin wallet or exchange and has already begun a phased rollout.
On 24th March 2020, Mt Gox Bitcoins announced the Plans to Distribute BTC and BCH, Liquidate Forks Into Cash. According to the new plan, Mt Gox claimants will get BTC and BCH assets alongside the possibility of receiving fiat currencies as well. Kobayashi’s latest document notes that other crypto assets will be “liquidated into cash,” but the draft does not disclose what types of digital currencies will be sold.
Key Target Audience
Bitcoin Payment System Manufacturers, Bitcoin Payment System International Traders, Bitcoin Payment System Distributors and Suppliers, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others
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.