Cryptocurrency on the Rise

Cryptocurrency on the Rise

June 8, 2016         Written By Bill Hardekopf

A recent study by Technavio shows that cryptocurrency, such as Bitcoin, will continue to grow over the next four years.

Cryptocurrency, which grew by 622.7% in 2014, makes payments using an encrypted code that can be transferred digitally. Early adopters praise the ease and security of these transactions, as they do not require repetitive authentication like cash and traditional card payments. Also, payments are instant and do not incur service charges.

The leading cryptocurrencies are Bitcoin, Litecoin, Ripple, Peercoin, Namecoin, and Novocain. Bitcoin is considered the top digital currency.

“Investors believe that Bitcoin is a safe option to invest in as it has gained a large market share with a higher acceptance rate than any other cryptocurrency. The market for Bitcoin is expected to witness significant growth over the next four years as a huge trust factor is associated with these coins,” says Ujjwal Doshi, a lead analyst at Technavio.

The cryptocurrency market is divided into three segments: APAC, the Americas and EMEA. The Americas dominated the market in 2015, with the United States leading the way, followed closely by Canada and Brazil.

Technavio’s research indicates that mobile payments and mobile wallets will also see an increase in revenue. The mobile payment market is expected to grow at a rate of 18.1% from 2015 to 2019, and mobile wallets are expected to grow 36.8% over that same period.

The information contained within this article was accurate as of June 8, 2016. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.


About Bill Hardekopf

Bill Hardekopf is the CEO of and covers the credit card industry from all perspectives. Bill has been involved with personal finance for over 15 years. He is a frequent contributor to Forbes, The Street and The Christian Science Monitor.
View all posts by Bill Hardekopf
Featured Low Interest Card
Top Features : 1.25X miles on every purchase; no annual fee; bonus of 20,000 miles once $1,000 is spent in first 3 months
Featured Cash Back Card
Top Features : No Annual Fee, Bonus Offer, Cash Back
Featured No Annual Fee Card
Top Features : Earn cash back twice. 1% when you buy plus 1% as you pay; 0% APR for 18 months on balance transfers
Featured Bad Credit Card
Top Features : No Annual Fee; Cash Back match at the end of your first year; Social Security Alerts
Featured Fair Credit Card
Top Features : No annual fee; access to higher credit line after making first 5 monthly payments on time
Featured Limited/No Credit
Top Features : No annual fee; reports to major credit bureaus; access to higher credit line after making first 5 monthly payments on time