Cryptocurrency

The cryptocurrency market has evolved dramatically with a market capitalization that has surpassed US$3 billion. With the creation of Bitcoin, thousands and thousands of cryptocurrencies have been created. There are several cryptocurrencies with a market value being traded daily. However, Bitcoin leads the market space as it represents approx. 45% of the entire market cap.

Based on a Cambridge Centre for Alternative Finance report, the amount of active cryptocurrency wallet users is roughly between 2.9 million - 5.8 million.

Many projects and companies have emerged in the cryptocurrency industry to provide products and services that facilitate cryptocurrency usage for mainstream users and build the infrastructure for vast blockchain applications.

Although the crypto industry consists of many key individuals and institutions, four main cryptocurrency industry sectors are in existence, Exchanges, Mining, Payment Companies and Wallets.

Currently, Crypto Exchanges allow people to buy and sell cryptocurrencies and other digital assets for national currencies and other cryptocurrencies. Also, they play a vital role in the crypto economy as they offer a market for trading, liquidity, and price update.