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Bitcoin payments market
The global market for bitcoin payments is experiencing considerable growth and is expected to expand as cryptocurrencies are gaining popularity across the globe. Bitcoin payment services provide a globalized transaction network that allows for the fast and efficient transfer of bitcoins around the world. Payments for bitcoins are made via smartphones and tablets. Additionally, bitcoin transactions are considered relatively cheaper, due to the lower transaction fees. With these features, a retailer and other users gain a secure and credible identity in the digital world of cryptocurrencies.
Companies covered in the report: Coinpayments, Inc, BitPay, Coinbase, CoinGate, Spectro Finance Ltd, GoUrl.io, GaragePreneurs Internet Pvt Ltd, GoCoin LLC, Shopify Inc and CoinsBank
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COVID-19 scenario analysis:
In the wake of the economic downturn, bitcoin’s value has been rising over the past month.
Without interruption, banking partners accept payments at any time while maintaining business relationships without significant delays, just as customers have received prompt customer service in the market.
Key Impact Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis:
Lower transaction costs for executing bitcoin payments and greater transparency in highly competitive exchange rates are some of the factors driving market growth. However, strict government regulations in various regions and lower awareness of paying for bitcoins are some of the factors limiting market growth.
Conversely, the rise in popularity of bitcoin and the acceptance of digital currencies in emerging economies are some of the factors that should create profitable opportunities for the market in the coming years.
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Trends in the global bitcoin payments market are as follows:
Launch of new prepaid cards to make the market thrive:
The launch of new prepaid cards on the market is gaining momentum for bitcoin payments. For example, in June 2020, Bitpay, which is a blockchain payment service provider, introduced a prepaid debit card that allows US consumers to spend their crypto assets as fiat currency. In addition, the card uses Europay, Mastercard and Visa (EMV) chips for contactless payments, providing adequate protection and can be used for Internet transactions or cash withdrawals from ATMs.
Growth in acceptance of bitcoin transactions:
The increased growth of companies and merchants accepting bitcoin globally is a major trend in the bitcoin payments market. Furthermore, the increase in the number of customers looking for opportunities to spend their digital bitcoins on purchases and transactions is expected to increase the market. With the increasing acceptance of blockchain and digital currencies around the world, several companies are providing payment technologies that make and receive payments in cryptocurrencies.
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Main benefits of the report:
This study presents an analytical representation of the global bitcoin payments market along with current trends and future estimates to determine upcoming investment pockets.
The report presents information related to key factors, restrictions and opportunities along with a detailed analysis of the global bitcoin payments market share.
The current market is quantitatively analyzed from 2020 to 2027 to highlight the market growth scenario.
Porter’s five forces analysis illustrates the power of buyers and suppliers in the market.
The report provides a detailed market analysis based on the present and future competitive intensity of the market.
Questions answered in the Bitcoin Payments Market Research Report:
Who are the major market players active in the bitcoin payments market?
What would be the detailed impact of COVID-19 on the global bitcoin payments market?
What current trends will affect the market in the coming years?
What are the drivers, constraints and opportunities in the global bitcoin payments market?
What are the projections for the future that would help take further strategic steps?
Access Report Summary: https://www.alliedmarketresearch.com/bitcoin-payments-market-A07535
Regions Covered: North America (United States and Canada), Europe (Germany, United Kingdom, France and rest of Europe), Asia-Pacific (China, Japan, India and rest of Asia-Pacific), Latin America (Brazil, Mexico, and the rest of LATAM) and the Middle East and Africa
Component
Hardware
Software
Service
Vertical of the sector
E-commerce
Retail
Others
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Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research offers global enterprises and small and medium-sized businesses unmatched quality of “Market Research Reports” and “Business Intelligence Solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market domain.
We have professional business relationships with various companies and this helps us dig up market data which helps us generate accurate research data tables and confirm the highest accuracy in our market forecasts. All data presented in the reports published by us is extracted through primary interviews with senior officials of the main companies in the domain concerned. Our secondary data acquisition methodology includes in-depth online and offline research and discussions with industry experienced professionals and analysts.
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