Ibinex Launches Comprehensive Market Report on Cryptocurrency
NEW YORK, October 4, 2018 (Newswire.com) - In a recent development, Ibinex, a White Label Solution for Cryptocurrency exchange, released its "The Global Cryptocurrency Market Report." The report systematically details vital statistics, developments, innovations, and other findings on the ongoing status of the international cryptocurrency market.
Quick Facts
The comprehensive report starts with some Quick Facts:
- The cryptocurrency market hit $350 million as of April 2018.
- The entire crypto sphere amassed $12 billion on 22 August.
- The US Dollar has lost more than 80% of its purchasing power.
Global knowledge
The report substantiates its findings with graphs/charts, like statistical surveys on the global knowledge, legal status of crypto, or on cryptocurrency usage.
-Interestingly, China is the only country where cryptocurrency has an illegal status.
On similar lines, is a graphical illustration which explores the worldwide demographics of cryptocurrency usage, specifically Bitcoin, primarily throughout the first 90 days of Q2 2018. The statistics present Bitcoin ownership predominantly as follows:
- European: 33.9%
- Male: 86.9%
- Ages: 25-34 -- 38.2%
Crypto aspects
Ibinex’s market research critically examines crypto aspects like trading volumes, usage, cryptocurrency regulation, wallets, transactions, stable coins, payments, and the blockchain technology market.
Several graphs present the trading volumes of crypto across Asia, Europe, Middle East, South America, Africa. The highest trading volumes in different regions were recorded as
- Asia: Japan, 5.5 mil Yen (2013−18)
- Europe: The United Kingdom, 20 mil pounds (2013−18)
- Middle East: Iran, 67 Bil Rial (2014−18)
- South America: Argentina, 6 Mil Argentine Pesos (2013-18)
- Africa: Kenya, 85 Mil Kenyan Shillings (2013-18)
Cryptocurrency and the US
A detailed section explores the Cryptocurrency industry in the US. It notes,
- 92% of Americans do not own cryptocurrency and 8% own.
- Crypto ownership by gender: Men (21.8%), Women (8.9%).
- Firms raised $12 billion in ICOs in Q1 2018 in the US.
The US vs. Europe:
- Currently, own cryptocurrency-- Europe 9%, US 8%
- Expect to own it in the future-- Europe 25%, US 21%
- Awareness of cryptocurrency-- Europe 66%, US 57%
Interestingly, in China, 18% own cryptocurrency, while 45% plan to buy.
Initial Coin Offering (ICO)
Ibinex's market research then investigates the ICO market, ICO regulations, ICO funds raised on a global scale.
A graph displaying the top 25 countries in the world’s ICO market by percentage shows the United States as leading with 20% of the world’s ICOs.
Exchanges
This section details the four major types of crypto exchanges: Traditional Exchanges, Cryptocurrency Brokers, Direct Trading Platforms, and Cryptocurrency Funds.
Ibinex’s market report identifies ten exchanges based on high trading revenue. Below are the top three:
1. Binance: $3.48 million
2. GDAX: $390.43 K
3. Bitstamp: $389.09
Payment Processors
Payment processors have also gained prominence in the crypto space. The document nails down the top three along with their fees.
1. BitPay: 1% (higher for high-risk industries)
2. Coinbase: 0% flat fee on every transaction, 1% conversion fee
3. Coingate: 1%
Crypto Mining
In dealing with Crypto Mining, Ibinex’s market report displays estimates at world mining hash power, China being the dominant entity, while, India and Georgia followed with 4% and 2% respectively.
Ibinex's comprehensive global cryptocurrency market report is a global observation of the significant features of the crypto sphere. It can be well considered as a one-stop guide for all aspiring crypto enthusiasts.
Click here to read the full report
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Source: Ibinex