From 2022 to 2030, the size of the crypto ATM market is anticipated to increase by 56.5% CAGR.

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crypto atm

Bitcoin ATMs allow users to purchase cryptocurrency and exchange them for cash. As a result, there is an increase in demand for these ATMs worldwide.

Market Research Future
Market Research Future

Increasing Use of Bitcoin ATMs to Boost Crypto ATM Market Growth

Crypto ATM Market Overview:

According to a comprehensive research report by Market Research Future (MRFR), “Crypto ATM Market Analysis by Offering (Hardware and Software), Type (One Way and Two Way), and Coin (BTC, Litecoin, ETH, Dogecoin, Bitcoin Cash, Dash, USDT), and Region – Forecast till 2030” registering a 56.5% CAGR throughout the forecast period (2022–2030).

crypto atm

Increasing Use of Bitcoin ATMs to offer Robust Opportunities 
Bitcoin ATMs allow users to purchase cryptocurrency and exchange them for cash. Because they provide complete financial confidentiality, are impenetrable, and provide a speedy way to sell or purchase bitcoins, these ATMs are becoming increasingly popular. Bitcoin ATMs provide the highest level of security because no personal information is requested from consumers. Cryptocurrency transfers can only take place if the user has entered the necessary security IDs and encryption keys. These ATMs are equipped with hardware and software failure protection technology. As a result, there is an increase in demand for these ATMs worldwide.

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Report Scope:

Report Metric Details
Market Size USD Billion
CAGR 56.5% CAGR (2022-2030)
Base Year 2021
Forecast Period 2022-2030
Historical Data 2018, 2019 , 2020
Forecast Units Value (USD Million)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Offering, Type, and Coin
Geographies Covered North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Vendors BITCOIN DEPOT, Bitstop, Cash Cloud, Inc, Coinsource, Covault, LLC, GENERAL BYTES s.r.o., Genesis Coin Inc., Kurant GmbH, Lamassu Industries AG, and RockitCoin
Key Market Opportunities The rapid surge of startups and increasing investment in the crypto world.
Key Market Drivers Convenience in transactions provided by Crypto ATMs

Lack of Awareness to act as Market Restraints 
The lack of awareness coupled with technical understanding about crypto currency may act as market restraints over the forecast period.

Crypto ATM Market Drivers 
Rising Penetration of Smartphones to Boost Market Growth 
One of the key factors highlighting the Crypto ATM Market growth is the increasing use of smartphones on a global scale. Users of crypto-currencies can easily take advantage of the features of crypto ATMs thanks to smartphones.

Limited Acceptance of Crypto-Currencies to act as Market Challenge 
The limited acceptance of crypto-currencies may act as a market challenges over the forecast period.

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Crypto ATM Market Segmentation 

Based on offering, type, and coin, the cryptocurrency ATM industry is divided.

By providing, hardware will dominate the market for the next length of time. Providers of crypto ATM hardware are focusing on strategic collaborations and mergers and acquisitions to improve their product offerings. Hardware includes things like door locks, cash recyclers, ATM stands, extension boxes, cash boxes, and cash dispensers.

Due to the increased demand for better security, safer digital payments, and conversion features, the two-way type will lead the crypto ATM market in terms of type over the projection period.

During the anticipated period for the legalization of bitcoin in various nations, bitcoin will lead the Crypto ATM Market by coin. The demand for bitcoin ATMs is rising as bitcoin becomes more widely accepted as a form of payment. Bitcoin is the most well-known form of digital money.

COVID-19 Analysis 
The market for crypto ATMs has been considerably influenced as a result of growing consumer interest in cryptocurrency during the COVID-19 pandemic. Also, whereas it had been developing slowly before the outbreak, cryptocurrency investment in Bitcoin, Dogecoin, Ethereum, and other cryptocurrencies has surged dramatically since then. As a result, amid the current global health crisis, this has emerged as a crucial market growth component.

Crypto ATM Market Regional Analysis 
North America to Sway Crypto ATM Market 

North America dominated the market for cryptocurrency ATMs. North American companies including Coin Cloud, Bitcoin Depot, and CoinFlip are among the well-known manufacturers of cryptocurrency ATMs. Installing cryptocurrency ATMs in public places is a growing trend in the US. For instance, Williston, North Dakota announced in November 2021 that its primary airport would have a cryptocurrency ATM where users could buy and sell digital money. This is due to the rapidly expanding installation of cryptocurrency ATMs in public areas in the area.

Due to increasing vendor investments in growing their operations, the market for cryptocurrency ATMs in North America will grow. The market in this area is predicted to hold the highest share of the cryptocurrency market by 2023. Due to the abundance of crypto ATM hardware and software vendors, as well as the favorable investment climate, the US is projected to maintain its leadership position in the market during the analysis period (without any legal barriers).

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Rising investments in cryptocurrency startups, prompt installation of cryptocurrency ATMs in public spaces, a strong emphasis on adhering to anti-money laundering regulations, and a strong presence of multi-cryptocurrency ATM networks & businesses in the area are additional factors that are anticipated to contribute to the market’s expansion.

APAC to Have Admirable Growth in Crypto ATM Market 

The market for two-way crypto-currency ATMs is expected to increase significantly in the Asia Pacific area during the next years. Two causes driving the growth of the regional market are the ongoing installation of two-way crypto ATMs across APAC nations, including the Philippines, and the regular introduction of 5G technology. Additionally crucial are the interactions between businesses and their partners (the findings indicate that almost 50 percent of organizations from the APAC are interacting with customers through social media). Several countries, like India and South Korea, are investing in companies to hasten the market’s expansion of cryptocurrency exchanges. The fact that these companies are obtaining venture capital funding from numerous organizations is causing the demand for crypto ATMs to rise.

The APAC area is predicted to exhibit the quickest rate of growth over the course of the analysis period. The continued installation of two-way crypto ATMs across Asia Pacific countries, including the Philippines, is expected to fuel the regional market’s rise over the course of the projected period. Additionally, it is projected that the widespread use of smartphones and the continuous rollout of 5G technology would open up chances for regional market expansion. Businesses in the APAC area are using crypto ATMs extensively to improve customer experiences and streamline operations.

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Crypto ATM Market Competitive Analysis

Dominant Key Players in Crypto ATM Market Covered are:

  • Bitstop
  • Cash Cloud, Inc
  • Coinsource
  • Covault, LLC
  • GENERAL BYTES s.r.o.
  • Genesis Coin Inc.
  • Kurant GmbH
  • Lamassu Industries AG
  • RockitCoin

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