According to the report by Expert Market Research (EMR), The global Crypto ATM Market Size reached approximately USD 87.35 million in 2023. Aided by the increasing integration of mobile applications and the availability of enhanced security features, the market is projected to grow at a CAGR of 45.7% between 2024 and 2032, reaching a value of around USD 2,584.55 billion by 2032.
Crypto ATMs, also known as Bitcoin ATMs or digital currency ATMs, are physical kiosks or machines that enable users to buy or sell cryptocurrencies using cash or debit/credit cards. These ATMs provide a convenient and accessible way for individuals to exchange fiat currency for cryptocurrencies and vice versa, allowing users to enter or exit the crypto ATM market easily.
Crypto ATMs play a crucial role in facilitating the adoption and mainstream acceptance of cryptocurrencies by providing users with a familiar and accessible interface for buying, selling, and exchanging digital assets.
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The surge in the popularity of cryptocurrencies, including flagship currencies like Bitcoin, Ethereum, and Litecoin, has catalysed a monumental shift in the financial landscape, igniting a global demand for crypto ATMs. These innovative machines serve as pivotal gateways, providing users with a seamless bridge between the traditional fiat currency realm and the burgeoning world of digital assets.
One of the primary catalysts propelling the crypto ATM market growth is the escalating acceptance of cryptocurrencies as not only a viable investment avenue but also as a legitimate form of payment. As traditional financial markets face increasing volatility and uncertainty, investors are increasingly seeking refuge in cryptocurrencies as a hedge against economic instability. In this context, crypto ATMs emerge as indispensable tools, offering investors a straightforward mechanism to swiftly convert fiat currency into cryptocurrencies and vice versa, thereby facilitating effortless navigation into and out of the crypto sphere.
Furthermore, the evolution of the crypto ecosystem, marked notably by the rise of decentralised finance (DeFi) platforms and non-fungible tokens (NFTs), has amplified the demand for crypto ATMs to unprecedented levels. These transformative technologies have ushered in a new era of financial inclusivity and innovation, enabling users to engage in a myriad of blockchain-based applications, including lending, borrowing, and trading, without the need for traditional financial intermediaries. Crypto ATMs serve as vital conduits, granting users unfettered access to a diverse array of cryptocurrencies, thus empowering them to actively participate in the burgeoning decentralised economy.
One-way ATMs hold a significant portion of the market share within the crypto ATM market. These machines facilitate the purchase of cryptocurrencies using fiat currency but do not support the reverse transaction of selling cryptocurrencies for fiat currency. This one-directional functionality simplifies both the design and operation of the ATMs, resulting in lower installation and maintenance costs compared to their two-way counterparts.
As a consequence of their affordability and straightforward operation, one-way ATMs have garnered favour among customers seeking an uncomplicated and cost-effective means of entering the cryptocurrency market. This is one of the key crypto ATM market trends.
To delve deeper into the distinction between one-way and two-way ATMs, it is essential to understand their respective functionalities and implications for users. One-way ATMs streamline the process for individuals looking to acquire cryptocurrencies by providing a straightforward mechanism for converting fiat currency into digital assets. Users simply insert cash into the machine, select the desired cryptocurrency, and complete the transaction, with the purchased cryptocurrency transferred to their digital wallet.
Crypto Atm Market Segmentation
The global crypto ATM market can be divided based on offering, type, coin type, and region.
Market Breakup by Offering
- Hardware
- Software
Market Breakup by Type
- One Way
- Two Way
Market Breakup by Coin Type
- Bitcoin
- Dogecoin
- Ethereum
- Litecoin
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape of Crypto Atm Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global crypto ATM market. Some of the major players explored in the report by Expert Market Research are as follows:
- Genesis Coin Inc.
- GENERAL BYTES s.r.o.
- Byte Federal, Inc.
- com, LLC
- Express Systems USA Inc.
- Lamassu Industries AG
- Bitaccess Inc.
- Cambio Finance
- CoinSolution
- ATM OPS LLC.
- Others
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