[pdf] the Global Cryptocurrency Atm Market Is Projected to Witness Significant Growth Owing to Increasing Inclination Among Individuals Towards Cryptocurrency

United States/WA: The Global Cryptocurrency ATM Market is estimated to exhibit a CAGR of 45.8% over the forecast period.

Market Overview:

The availability of the Cryptocurrency ATM has enabled a new class of investment opportunities to materialize. This class of investment opportunities has grown into a very lucrative industry that is rapidly becoming extremely competitive. Worldwide investments in Cryptocurrencies have risen from tens of millions of dollars per year to millions of dollars per year. Additionally, because of the wide range of Cryptocurrencies being accepted at most of the Crypto ATMs, it is not difficult for the average consumer to obtain their hands on a wide range of these precious metals. The ability for the average consumer to access these currencies at their fingertips makes the availability of Cryptocurrencies at the average person’s fingertips all the more important. In order to obtain money from one of these ATMs, one needs to have an internet connection. The ATMs will usually prompt users to log in to their bank account to verify the account information.

Competitive Landscape:

Major players operating in the global Cryptocurrency ATM market include RUSbit, Orderbob, Bitxatm, Coinsource, Coinme, Bitaccess, COVAULT, Lamassu, Genesis Coin, GENERAL BYTES.

Key Market Drivers:

The increasing prevalence of Bitcoin ATMs in the world is the main factor that is expected to fuel the growth of the global Cryptocurrency ATM. For instance, according to Bitcoin Association, currently, there are around 14,000 Bitcoin ATMs in the world. Moreover, increasing demand for digital currencies among individuals and increasing return on investment along with the dual-way transaction capabilities are expected to augment the demand in the global Cryptocurrency ATM.

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Covid-19 Impact Analysis:

While the COVID-19 pandemic resulted in several assets and commodities losing their values, the global Cryptocurrency market however was found to deal with the pandemic very well. For instance, according to The Free Press Journal, Cryptocurrency was valued at around US$ 7000 in March 2020 and went to more than US$ 54,000 in 2021. This boom in the bitcoin market has astonished all and this also positively impacted the growth of the global Cryptocurrency ATM market.

Key Takeaways:

• The size of the global Cryptocurrency ATM market was evaluated at around US$ 6.8 million in 2017 and is projected to reach US$ 144.5 million by 2023 at a CAGR of around 54.7% during the market forecast period, owing to the increasing investments in Cryptocurrency in the world. For instance, according to Finder, Americans on average have US$ 1003 in Cryptocurrencies, however, the median of crypto in the digital wallets of America is around US$ 191.

• North America is expected to hold the major share of the global Cryptocurrency ATM market, owing to the increasing expansion of Crypto ATMs in the region. For instance, according to Coin ATM Radar, in 2018 there were more than 2342 Bitcoin ATMs in the U.S., and by the end of May 2021, the number of crypto ATMs had grown majorly to more than 38,000.

• The Asia Pacific is estimated to witness significant growth in the global Cryptocurrency ATM market, owing to the increasing inclination among individuals to invest in Cryptocurrencies. For instance, according to Economic Times, around 15 million Indians by 2021 have invested in Cryptocurrencies.

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Global Cryptocurrency ATM Market, By Revenue Source (New Installations (One-way and two-way) and Revenue Through Other Sources (Transaction Commissions, Server Utilization, Technical Support, and Other Services), By Cryptocurrency Type (Bitcoin, Litecoin, Dash, Ether, Dogecoin, Other Cryptocurrencies), and By Geography – Insights, Size, Share, Opportunity Analysis, and Industry Forecast till 2025

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