Monday, 03 August 2020

Study: Full Growth Opportunities in Cryptocurrencies To Be Experienced By 2025

The complete growth opportunities in the cryptocurrency space will be experienced by 2025, according to a study by intelligence and consultancy provider Persistence Market Research (PMR).
CryptoCurrency tweeted:
This is just the beginning of #cryptocurrency mass adoption! Very excited for the FUTURE!!

The study titled, Cryptocurrency Market: Global Industry Trend Analysis 2012 to 2017 and Forecast 2017 – 2025, points to the growing popularity of digital transactions, both in finance and retail selling, which will push the demands for cryptocurrencies.

Part of the study reads:

“Currently, the customers’ demands are changing, and they are looking more towards less time consuming financial services to make their life easier and effortless. For this, they are moving more towards online businesses like online transactions such as cryptocurrency.”

According to CoinMarketCap,the market capitalization for all cryptocurrencies doubled since November, touching a peak at $600 billion in the middle of December.

Cryptocurrency Is The Future

Researchers at PMR described cryptocurrency as the future and the new revenue in the digital finance world. Virtual currencies also offer faster international transactions because of its nature, making them the preferred method of financial deals moving forward.

Digital currencies are politically neutral and are not bound by any rules or regulations by any specific government or exchange rates, researchers s.

“Cryptocurrency is said to be more secure than conventional financial instruments, eliminating the chances of identity theft and other issues that currently plague fiat based electronic payments infrastructure,” the study adds.

Other than that, cryptocurrencies offer proper security and authentication, making transactions more convenient and secure allowing holders of digital currencies to conduct business without providing additional information. These features of the digital currencies are one of the primary drivers of the industry, the researchers noted.

More importantly, the rise in online business with the increasing volume of online transactions using mobile phones, changing consumer and business landscape have led the demand for the market growth.

The study further stated:

“Major populations of the world are still unaware of the benefits of digital currency. Lack of widespread adoption and capacity limits, which are currently being addressed by micro-payment channels are hindering the growth of the market.”

Cryptocurrencies are a subset of fintech products- apps and techniques to do away with traditional banking and automatize financial services.

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