Global Digital Currency Market: Cryptocurrency or digital currency is a currency in which encryption technique is used for formation of units of currency. Having same properties of physical currency digital currency is not physically available. Through same encryption technique transaction of digital currency is carried out. First decentralised cryptocurrency was known as bitcoin. Some other characteristic is no physical presence, decentralized, less transaction cost, world-wide acceptance.
Major factor driving growth of global digital currency market is it being decentralized and is free from government interference. With power of instantaneous transaction and borderless transfer of ownership digital currency is gaining its applicability in real estate sectors which is anticipated to be major driving factor for the growth of global digital currency market of forecast period.
Major challenges faced by global digital currency market is fluctuates in price of digital currency. Combined with lack of security, lack of government regulation, and identity theft are some other major factor hampering the growth of global digital currency market. However, by overcoming the challenges with constant technological advancement digital currency market will witness new opportunities created for major market players and overall development of global digital currency market for forecast period.
Do Inquiry About Digital Currency Market Report Here: https://marketresearch.biz/report/digital-currency-market/#inquiry
The global digital currency market report has been segmented on the basis of types, application, and region. On the basis of region, into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
North America is a dominant player in the global digital currency market and accounts for largest market share in terms of revenue as compared to that of markets in other regions. Europe accounts for the second largest revenue share contribution to the global digital currency market followed by markets in Asia Pacific and Middle East & Africa respectively. The market in Asia Pacific is projected to have the fastest growth in terms of CAGR, owing to increase in number of people showing interest in emergence of bitcoin as an alternative currency.
Major market players in the global digital currency market are Zeb IT Service Pvt Ltd., Ethereum Foundation., Unocoin Technologies Private Limited., and Secure Bitcoin Traders Private Limited.