Bitcoin Payments Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UNITED KINGDOM, September 18, 2024 /EINPresswire.com/ — The bitcoin payments market has experienced robust growth in recent years, expanding from $990.18 billion in 2023 to $1,071.42 billion in 2024 at a compound annual growth rate (CAGR) of 15.2%. The growth in the historic period can be attributed to rise in the need for transparency in the payment system, increasing acceptance by vendors, merchants, and consumers for digital payments, increasing adoption of digital ledger, the rise of the lightning network, and increasing number of crypto automated teller machines (ATMs) and mobile wallets.

What Is The Estimated Market Size Of The Global Bitcoin Payments Market And Its Annual Growth Rate?
The bitcoin payments market is projected to continue its strong growth, reaching $1,903.20 billion in 2028 at a compound annual growth rate (CAGR) of 15.4%. The growth in the forecast period can be attributed to rise in smartphone penetration, growing demand for low-cost and secure payments, growing awareness of bitcoin and its use cases, increasing number of initial coin offerings (ICOs), and increasing number of bitcoin payment processors.

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Growth Driver Of The Bitcoin Payments Market
The increase in popularity of crypto ATMs is expected to propel the growth of Bitcoin payments going forward. A crypto ATM (cryptocurrency automated teller machine), often called a Bitcoin ATM, is an electronic kiosk that enables users to buy or sell cryptocurrencies using cash or debit/credit cards. The increasing number of crypto ATMs is due to several factors, such as a rise in interest and investment in cryptocurrencies, convenience and accessibility, and a growing variety of supported cryptocurrencies. Bitcoin payments, facilitated by crypto ATMs and mobile wallets, offer unparalleled convenience and accessibility compared to traditional financial systems, allowing users to quickly buy, sell, or transfer Bitcoin using cash or their smartphones without requiring lengthy registration processes or bank accounts.

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Which Market Players Are Steering the Bitcoin Payments Market Growth?
Key players in the bitcoin payments market include Verifone Inc., Microsoft Corporation, Paypal Holdings Inc., Coinbase Global Inc., Binance Holdings Ltd., Etsy Inc., Paxful Inc., MoonPay USA LLC, Bitpay Inc., Coinspaid, CoinsBank, Utrust, The Pirate Bay, Genie Technologies Pte Ltd, Coingate, Spectrocoin Finance Ltd., OpenNode Inc., GoCoin LLC, Planet Express, Coinpayments Inc.

What Are the Dominant Trends in Bitcoin Payments Market Overview?
Major companies operating in the bitcoin payments market are focused on developing innovative solutions such as token pay to enhance transaction efficiency and security and offer more integrated payment options within the cryptocurrency ecosystem. TokenPay (TPAY) is a decentralized cryptocurrency that enhances privacy and security in digital transactions. It integrates advanced cryptographic protocols to ensure secure and anonymous transactions.

How Is The Global Bitcoin Payments Market Segmented?
1) By Component: Hardware, Software, Services
2) By Keys: Private Keys, Public Keys
3) By Application: E-Commerce, Retail, Other Applications

Geographical Insights: North America Leading The Bitcoin Payments Market
North America was the largest region in the bitcoin payments market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bitcoin payments market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Bitcoin Payments Market Definition
Bitcoin payments refer to the process of using Bitcoin, a decentralized digital currency, as a medium of exchange to pay for goods and services or transfer funds. These payments are used for various purposes, including online purchases, remittances, investments, and to transfer value in peer-to-peer transactions.

Bitcoin Payments Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global bitcoin payments market report covering trends, opportunities, strategies, and more
The Bitcoin Payments Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on bitcoin payments market size, bitcoin payments market drivers and trends, bitcoin payments market major players, bitcoin payments competitors’ revenues, bitcoin payments market positioning, and bitcoin payments market growth across geographies. The bitcoin payments market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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