About Crypto Card
Crypto cards are the crypto debit cards which serves as the same function as regular credit or debit cards. However, instead of using just fiat currency, the user can use its crypto to pay for goods and services to vendors that accept them. In other words, it is the great way to get instant purchasing power from Bitcoin but they are not credited equal. Further, some of the service providers give the option of converting crypto into fiat instantly to use the physical card for any transaction. The users are not required a Bitcoin ATM to convert cryptocurrency into actual bank notes. With crypto debit cards, users are able to use any regular ATM to withdraw cash.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Crypto Card 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.
TenX (Singapore), Bitpay (United States), Bitwala (Germany), Coinbase (United States), Cryptopay (United Kingdom), Wirex (United Kingdom), Revolut (United Kingdom), Spectro Finance (United Kingdom), Crypto.com (China) and Monolith (Italy) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Crypto. Com (China) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Crypto Card market by Type (Virtual Card and Physical Card), Application (Personal and Commercial) and Region.
On the basis of geography, the market of Crypto Card 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 Crypto currency type, the sub-segment i.e. Bitcoin will boost the Crypto Card market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Card type, the sub-segment i.e. EFTPOS will boost the Crypto Card market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Acceptance of Cryptocurrency in Real World Stores and Shift Towards the Cashless Society
Market Growth Drivers:
Increased Investments in Cryptocurrency and Growing Adoption of Decentralized Finance
Challenges:
Lack of Consumer Awareness About the Crypto Cards
Restraints:
Risks Associated with Cyber Security
Opportunities:
Rising Popularity of Crypto Cards in Asia Pacific and Increasing Popularity of Bitcoins
Market Leaders and their expansionary development strategies
In April 2023, Mastercard (MA.N) has expand its cryptocurrency payment card programme by seeking more partnerships with crypto firms, the company's head of crypto and blockchain said, even as the sector comes under closer scrutiny from regulators and banks grow wary.
In February 2020, CoinDeal launches Crypto Debit Card with various benefits. It will enable crypto-holders the payments all over the world, as well as cash withdrawals from ATMs in local currencies.
Key Target Audience
Manufacturers, Raw material suppliers, Government associations, Research organizations 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.