1 INTRODUCTION 16
1.1 STUDY OBJECTIVES 16
1.2 DEFINITION 16
1.3 SCOPE OF THE STUDY 17
1.3.1 MARKETS COVERED 17
1.3.2 YEARS CONSIDERED 17
1.4 CURRENCY 18
1.5 LIMITATIONS 18
1.6 STAKEHOLDERS 18

2 RESEARCH METHODOLOGY 19
2.1 RESEARCH DATA 19
2.1.1 SECONDARY AND PRIMARY RESEARCH 21
2.1.1.1 Key industry insights 21
2.1.2 SECONDARY DATA 22
2.1.2.1 List of major secondary sources 22
2.1.2.2 Secondary sources 22
2.1.3 PRIMARY DATA 23
2.1.3.1 Breakdown of primaries 23
2.1.3.2 Primary sources 23
2.2 MARKET SIZE ESTIMATION 24
2.2.1 BOTTOM-UP APPROACH 25
2.2.2 TOP-DOWN APPROACH 26
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 27
2.4 RESEARCH ASSUMPTIONS 28

3 EXECUTIVE SUMMARY 29

4 PREMIUM INSIGHTS 34
4.1 ATTRACTIVE OPPORTUNITIES IN CRYPTOCURRENCY MARKET 34
4.2 CRYPTOCURRENCY MARKET FOR PAYMENT, BY TYPE 34
4.3 CRYPTOCURRENCY MARKET FOR MINING, BY TYPE 35
4.4 CRYPTOCURRENCY MARKET IN APAC, BY APPLICATION AND COUNTRY 35
4.5 CRYPTOCURRENCY MARKET, BY GEOGRAPHY 36
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5 MARKET OVERVIEW 37
5.1 INTRODUCTION 37
5.2 MARKET DYNAMICS 37
5.2.1 DRIVERS 38
5.2.1.1 Transparency of distributed ledger technology 38
5.2.1.2 High remittances in developing countries 38
5.2.1.3 High cost of cross-border remittance 39
5.2.1.4 Fluctuations in monetary regulations 40
5.2.1.5 Growth in venture capital investments 40
5.2.2 RESTRAINTS 42
5.2.2.1 Uncertain regulatory status 42
5.2.2.2 Lack of awareness and technical understanding regarding cryptocurrency 42
5.2.3 OPPORTUNITIES 42
5.2.3.1 Significant growth opportunities in emerging and developed markets 42
5.2.3.2 Acceptance of cryptocurrency across various industries 42
5.2.4 CHALLENGES 43
5.2.4.1 Concern regarding security, privacy, and control 43
5.2.4.2 Technical challenges pertaining to scalability 43
5.3 VALUE CHAIN ANALYSIS OF CRYPTOCURRENCY MARKET 44
5.4 KEY TRENDS IN CRYPTOCURRENCY MARKET 45
5.4.1 RANSOMWARE CASE STUDY 45
5.4.1.1 Technology behind ransomware 45
5.4.1.2 Encryption 45
5.4.1.3 Advent of cryptocurrencies 45
5.4.1.4 Impact of ransomware attack 46
5.4.1.5 Decline of ransomware 46
5.4.2 RISE IN CRYPTOCURRENCY MINING MALWARE 46
5.4.3 INITIAL COIN OFFERING (ICO) 47
5.4.4 CRYPTOGRAPHY IN CRYPTOCURRENCY 47
5.4.5 CRYPTOCURRENCY PRICES (IN USD) 48
5.4.6 HARDFORK IN CRYPTOCURRENCIES 48
5.4.7 SECURITY TOKEN OFFERING 50
5.5 REGULATION OF CRYPTOCURRENCY 50

6 CRYPTOCURRENCY MARKET, BY OFFERING 51
6.1 INTRODUCTION 52
6.2 HARDWARE 53
6.2.1 ASIC 55
6.2.1.1 ASICs to dominate the cryptocurrency hardware market during the forecast period 55
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6.2.2 GPU 58
6.2.2.1 Demand for GPUs expected to decrease for cryptocurrency mining during the forecast period 58
6.2.3 FPGA 58
6.2.3.1 FPGA expected to grow at a steady rate in cryptocurrency hardware market 58
6.2.4 WALLET 59
6.2.4.1 Better security expected to drive the cryptocurrency hardware wallet market during the forecast period 59
6.3 SOFTWARE 59
6.3.1 MINING PLATFORM 61
6.3.1.1 Growth in adoption of cryptocurrency expected to drive the market for mining platform 61
6.3.2 COIN WALLET 61
6.3.2.1 Mobile wallet expected to drive cryptocurrency software wallet market 61
6.3.3 EXCHANGE 62
6.3.3.1 Exchange to account for the largest share of cryptocurrency software market during the forecast period 62

7 CRYPTOCURRENCY MARKET, BY PROCESS 63
7.1 INTRODUCTION 64
7.2 MINING 65
7.2.1 SOLO MINING 69
7.2.1.1 Increasing demand for high computing power has led to decline of solo mining 69
7.2.2 POOL MINING 69
7.2.2.1 Pool mining expected to account for the largest share of cryptocurrency mining market during the forecast period 69
7.2.3 CLOUD MINING 69
7.2.3.1 Higher profits expected drive cloud mining market during the forecast period 69
7.3 TRANSACTION 70
7.3.1 EXCHANGE 74
7.3.1.1 Exchange to dominate the cryptocurrency transaction market during the forecast period 74
7.3.2 WALLET 74
7.3.2.1 Increase in adoption of cryptocurrencies expected to drive cryptocurrency wallet market 74

8 CRYPTOCURRENCY MARKET, BY TYPE 75
8.1 INTRODUCTION 76
8.2 BITCOIN 78
8.2.1 BITCOIN ACCOUNTED FOR THE LARGEST MARKET SIZE OF CRYPTOCURRENCY MARKET IN 2018 78
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8.3 ETHEREUM (ETH) 79
8.3.1 SUPPORT FOR SMART CONTRACT EXPECTED TO DRIVE THE MARKET FOR ETHEREUM 79
8.4 BITCOIN CASH 79
8.4.1 LARGER BLOCK SIZE EXPECTED TO DRIVE THE MARKET FOR BITCOIN CASH 79
8.5 RIPPLE (XRP) 79
8.5.1 SCALABILITY, EFFICIENCY AND LOW COST EXPECTED TO DRIVE THE MARKET FOR RIPPLE 79
8.6 DASHCOIN 80
8.6.1 FEATURES SUCH AS PRIVTAE TRANSACTIONS, INSTANT TRASACTIONS AND DECENTRALIZED GOVERNANCE TO DRIVE THE MARKET FOR DASH 80
8.7 LITECOIN (LTC) 80
8.7.1 FASTER TRANSACTION AS COMPARED TO OTHER MAJOR CRYPTOCURRENCIES EXPECTED TO DRIVE THE MARKET FOR LITECOIN 80
8.8 OTHERS 80

9 CRYPTOCURRENCY MARKET, BY APPLICATION 81
9.1 INTRODUCTION 82
9.2 TRADING 83
9.2.1 TRADING TO LEAD CRYPTOCURRENCY MARKET BETWEEN 2018 AND 2024 83
9.3 REMITTANCE 83
9.3.1 COMPLIANCE-FREE AND LOW FEES EXPECTED TO BE THE MAJOR DRIVERS FOR THE GROWTH OF REMITTANCE IN CRYPTOCURRENCY MARKET 83
9.4 PAYMENT 84
9.4.1 PEER-TO-PEER PAYMENT 86
9.4.1.1 Peer-to-peer payment expected to grow at highest CAGR during the forecast period 86
9.4.2 ECOMMERCE AND RETAIL 86
9.4.2.1 Growth in number of ecommerce companies accepting cryptocurrencies as mode of payment to drive the market 86
9.4.3 MEDIA AND ENTERTAINMENT 87
9.4.3.1 Casinos expected to drive cryptocurrency market for media and entertainment 87
9.4.4 TRAVEL AND TOURISM 87
9.4.4.1 The idea of traveling with one global currency expected to drive the cryptocurrency market in travel and tourism 87
9.4.5 OTHERS 87

10 GEOGRAPHIC ANALYSIS 88
10.1 INTRODUCTION 89
10.2 NORTH AMERICA 91
10.2.1 US 93
10.2.1.1 US accounted for the largest share of cryptocurrency market in North America 93
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10.2.2 CANADA 95
10.2.2.1 Government’s decision to allow the use of cryptocurrency expected to drive the market in Canada 95
10.2.3 MEXICO 96
10.2.3.1 Cryptocurrency being considered legal for eletronic transactions is expected to drive the market in Mexico 96
10.3 EUROPE 96
10.3.1 GERMANY 100
10.3.1.1 Favorable government regulations towards cryptocurrency is expected to drive the market in Germany 100
10.3.2 FRANCE 101
10.3.2.1 Reduction in taxes on cryptocurrency is expected to drive the market in France 101
10.3.3 UK 101
10.3.3.1 Legal cryptocurrency exchange expected to drive the market in the UK 101
10.3.4 EAST EUROPE 103
10.3.4.1 Companies moving to East Europe for mining and exchange are the major factors driving the cryptocurrency market in East Europe. 103
10.3.5 REST OF EUROPE 104
10.3.5.1 Rest of Europe expected to lead the cryptocurrency market in Europe during the forecast period 104
10.4 APAC 105
10.4.1 CHINA 107
10.4.1.1 China accounted for the largets market size in cryptocurrency mining in APAC 107
10.4.2 JAPAN 108
10.4.2.1 Government’s recognition of exchanges as legal is expected to drive the cryptocurrency market in Japan 108
10.4.3 SOUTH KOREA 109
10.4.3.1 Favorable government regulations towards cryptocurrency expected to drive the market in South Korea 109
10.4.4 REST OF APAC 110
10.5 ROW 111
10.5.1 SOUTH AMERICA 113
10.5.2 MIDDLE EAST AND AFRICA 113
11 COMPETITIVE LANDSCAPE 115
11.1 OVERVIEW 115
11.2 RANKING ANALYSIS OF KEY PLAYERS IN CRYPTOCURRENCY MARKET 116
11.3 COMPETITIVE SITUATIONS AND TRENDS 117
11.3.1 PRODUCT LAUNCHES 117
11.3.2 AGREEMENTS, PARTNERSHIPS, COLLABORATIONS, & CONTRACTS 118
11.3.3 ACQUISITIONS 119
11.3.4 EXPANSION 120
12 COMPANY PROFILES 121
(Business Overview, Products/Solutions/Service and Technology Offered, Recent Developments, SWOT Analysis, and MnM View)*
12.1 KEY PLAYERS 121
12.1.1 BITMAIN TECHNOLOGIES LTD. 121
12.1.2 NVIDIA 123
12.1.3 ADVANCED MICRO DEVICES, INC. 127
12.1.4 XILINX 131
12.1.5 BITFURY GROUP LIMITED 135
12.1.6 INTEL 138
12.1.7 RIPPLE 142
12.1.8 ETHEREUM FOUNDATION 144
12.1.9 COINBASE 145
12.1.10 BITGO 147
12.1.11 BINANCE 149
12.2 OTHER COMPANIES 151
12.2.1 CANAAN CREATIVE CO., LTD 151
12.2.2 ZHEJIANG EBANG COMMUNICATION CO.,LTD 151
12.2.3 BITSTAMP LTD 151
12.2.4 IFINEX INC. 152
12.2.5 LEDGER SAS 152
12.2.6 XAPO 152
12.2.7 ADVANCED MINING TECHNOLOGIES INC. 153
12.2.8 ALCHEMINER, LTD. 153
12.2.9 UPBIT 154
12.2.10 SHARK MINING 154
12.2.11 ETHEREUMMINER.EU 155
12.2.12 PANDAMINER 155
*Details on Business Overview, Products/Solutions/Service and Technology Offered, Recent Developments, SWOT Analysis, and MnM View might not be captured in case of unlisted companies.

13 APPENDIX 156
13.1 INSIGHTS FROM INDUSTRY EXPERTS 156
13.2 DISCUSSION GUIDE 157
13.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 162
13.4 AVAILABLE CUSTOMIZATIONS 164
13.5 RELATED REPORTS 164
13.6 AUTHOR DETAILS 165