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 Sector – Forecast to 2030” Registering a 56.5% CAGR Forecast period (2022–2030).
Crypto ATM Market Opportunity
Increasing Use of Bitcoin ATMs to Provide Strong Opportunities
Customers can buy and exchange cryptocurrencies for cash using bitcoin ATMs. These ATMs are gaining enough recognition because they offer total financial privacy, are impenetrable, and provide a quick way to sell or buy bitcoin. Since users are not required to enter any kind of personal information, bitcoin ATMs offer the highest level of security. Only when the user enters the required security identification and encryption key can the cryptocurrency be transferred. Hardware and software failure protection technology is installed in these ATMs. As a result the demand for these ATMs is increasing globally.
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Report Scope:
| report metrics | description |
| market size | USD billion |
| CAGR | 56.5% CAGR (2022-2030) |
| base year | 2021 |
| forecast period | 2022-2030 |
| historical figure | 2018, 2019 , 2020 |
| forecast units | Value (million USD) |
| report coverage | Revenue Forecasts, Competitive Scenario, Growth Factors and Trends |
| covered sections | Offerings, Types, and Coinage |
| Geographical Areas Covered | North America, Europe, Asia-Pacific and Rest of the World (RoW) |
| major seller | Bitcoin Depot, Bitstop, Cash Cloud, Inc., Coinsource, KoVault, LLC, General Bytes SRO, Genesis Coin Inc., Current GmbH, Lamassu Industries AG, and Rockitcoin |
| major market opportunities | The rapid boom of startups and growing investments in the crypto world. |
| major market driver | Convenience in transactions provided by crypto ATMs |
Helplessness
Lack of awareness to act as market restrictions
Lack of awareness along with technical understanding about crypto currency can act as market constraints during the forecast period.
crypto atm market drivers
Increasing penetration of smartphones to fuel market growth
One of the major factors highlighting the crypto ATM market growth is the increasing usage of smartphones globally. Users of crypto-currencies can easily take advantage of the features of crypto ATMs thanks to a smartphone.
Challenges
Limited acceptance of crypto-currencies to act as a market challenger
Limited acceptance of crypto-currencies may act as market challenges over the forecast period.
crypto atm market segmentation
The crypto ATM market is segmented on the basis of offering, type and coin.
Global Crypto ATM Market, by Offering
- Hardware
- Software
Global Crypto ATM Market, by Type
- One Way
- Two Way
Global Crypto ATM Market, by Coin
- Coin
- Bitcoin (BTC)
- Litecoin
- Ethereum (ETH)
- Dogecoin
- Bitcoin Cash
- Dash
- Tether (USDT)
- Others
Global Crypto ATM Market, by region
- North America
- US
- Canada
- Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia and New Zealand
- Rest of Asia-Pacific
- Rest of the World
- South America
- The Middle East
- Africa
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COVID-19 analysis
Due to the increasing consumer interest in cryptocurrencies during the time of the COVID-19 pandemic, the crypto ATM industry has been hit hard. Additionally, cryptocurrency investment in bitcoin, dogecoin, ethereum and other cryptocurrencies has increased significantly since the pandemic, while it was growing slowly before. In turn, this has become a major growth factor for the market during the global health crisis.
Crypto ATM Market Sector Analysis
North America To Influence The Crypto ATM Market
The cryptocurrency ATM market was dominated by North America. Many well-known crypto ATM manufacturers are based in North America, including CoinCloud, Bitcoin Depot, and Coinflip. In the US, installing cryptocurrency ATMs in public places is becoming increasingly popular. For example, Williston, North Dakota announced in November 2021 that it would have a crypto ATM at its main airport that would enable travelers to buy and sell virtual currencies. This is due to the region’s increasing deployment of cryptocurrency ATMs in public places.
The market for cryptocurrency ATMs in North America will expand due to increased investment by vendors to expand their business. By 2023, the market in this region is projected to control the largest share of the cryptocurrency market. The US may continue to lead the market in the analysis period thanks to the existence of a huge number of crypto ATM hardware as well as software providers and a favorable investment environment (without any legal hurdles).
Other factors contributing to the expansion of the market include increasing investment in cryptocurrency startups, accelerated installation of cryptocurrency ATMs in public areas, a strong emphasis on complying with anti-money laundering regulations, and a strong presence of multi-cryptocurrency ATMs. Network and business in the area.
APAC will drive appreciable growth in the crypto ATM market
In the next few years, it is anticipated that the two-way crypto-currency ATM market in the Asia Pacific region will witness significant growth. The continued installation of two-way crypto ATMs in APAC countries, including the Philippines, and the continued launch of 5G technology are two factors driving the expansion of the regional market. Interaction between organizations and their partners is additionally important (findings show that approximately 50 percent of APAC organizations are interacting with customers through social media). To accelerate the market expansion of crypto-currency exchanges, several countries including India and South Korea are investing in startups. The demand for crypto ATMs is increasing as a result of these businesses receiving venture capital funding from several organizations.
During the analysis period, the APAC region is anticipated to show the fastest rate of growth. During the forecast period, the ongoing installation of two-way crypto ATMs across Asia Pacific countries including the Philippines is expected to fuel the expansion of the regional market. Additionally, the proliferation of smartphones and the ongoing rollout of 5G technology is expected to create opportunities for regional market expansion. Crypto ATMs are increasingly being adopted by businesses in the APAC region to streamline operations and improve customer experiences.
crypto atm market competitive analysis
major key player crypto atm market are covered:
- bitcoin depot
- bitstop
- Cash Cloud, Inc.
- coinsource
- Kowalt, LLC
- normal bytes sro
- Genesis Coin Inc.
- CURRENT GmbH
- Lamassu Industries AG
- Rockitcoin
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