Albany, NY -- (SBWIRE) -- 02/11/2016 -- About Cryptocurrency

Cryptocurrency is a form of digital currency that is independent of any centralized bank. It is an encrypted code that can be transferred digitally using devices such as smartphones. Transactions using this currency are secure and easy unlike traditional card and cash purchases and do not require repetitive authentication. Most vendors and consumers are adopting cryptocurrency owing to the ease of transaction, which is one of the prime drivers for the cryptocurrency market.

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The encrypted code assigned for the stores can be scanned through smartphones and cryptocurrency can be transferred from the digital wallet of a purchaser to the digital wallet of the storekeeper. Unlike card transactions, these transactions do not incur service charges from the bank and are instant.

Covered in this report

The report covers the present scenario and the growth prospects of the global cryptocurrency market in terms of volume for 2016-2020. To calculate the total market capitalization, the report considers market capitalization of all cryptocurrencies present in the market.

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The market is divided into the following segments based on geography:

Americas
APAC
EMEA

Technavio's report, Global Cryptocurrency Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors

Bitcoin
Litecoin
Namecoin
Novacoin
Peercoin
Ripple

Other prominent vendors

Bitshares
Bytecoin
Dogecoin
Feathercoin
Primecoin
Megacoin
Nxt
Steller

Market driver

Ease of transaction
For a full, detailed list, view our report

Market challenge

Facilitates illegal businesses
For a full, detailed list, view our report

Market trend

Rival to banks
For a full, detailed list, view our report

Key questions answered in this report

What will the market size be in 2020 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?

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