Crypto Atm Market 2023 – 2030 By Coin (Bitcoin (BTC), Litecoin, Ethereum (ETH), Dogecoin, Bitcoin Cash, Dash, Tether (USDT), Offering (Hardware and Software), Type (One Way and Two Way), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits
Industry : Information Technology | Pages : 179 Pages | Published On : Jul 2023
The global market for crypto ATMs had a value of $35.80 million in 2023 and is expected to reach $3,557.05 million by 2030, exhibiting a CAGR of 58.5% from 2023 to 2030.
Cryptocurrency serves as an alternative form of payment to cash, credit cards, and checks, allowing customers to directly send money without involving a bank. Crypto ATMs enable individuals to easily transfer cryptocurrency through an ATM machine. To purchase cryptocurrency using a crypto ATM, individuals need to go through a KYC process, input the address of their crypto wallet for deposit, insert the order money into the crypto ATM, and confirm the transaction. Each transaction conducted through a crypto ATM generates an auto-generated receipt containing QR codes of public and private keys for security purposes.
Crypto ATMs offer convenient trading options for customers, eliminating the need to set up accounts, online wallets, or deal with complex public keys. The increasing demand for cryptocurrencies and the growing number of crypto adopters, primarily driven by the younger population, are driving the growth of the crypto ATM market. However, limited acceptance of cryptocurrencies as legal tender and the scarcity of ATM and kiosk locations hinder market growth. On the other hand, the rising number of startups investing in cryptocurrencies to generate profits and achieve higher returns on investment presents potential growth opportunities for the market.
The report analyzes the growth prospects, restraints, and trends of the crypto ATM market. It includes a Porter's five forces analysis to assess the impact of factors such as supplier bargaining power, competitive intensity, threat of new entrants, threat of substitutes, and buyer bargaining power on the market outlook for crypto ATMs.
The crypto ATM market is categorized based on offering, type, coin, and region. In terms of offering, it is divided into hardware and software. The hardware segment includes components such as display, ATM printer, QR scanner, and others. The market is further segmented by type into one-way and two-way crypto ATMs. The study covers various coins, including bitcoin (BTC), litecoin, ethereum (ETH), dogecoin, bitcoin cash, dash, tether (USDT), and others. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The report evaluates the leading companies operating in the crypto ATM market, including BITCOIN DEPOT, Bitstop, Cash Cloud, Inc, Coinsource, Covault, LLC, GENERAL BYTES s.r.o., Genesis Coin Inc., Kurant GmbH, Lamassu Industries AG, and RockitCoin. These players have implemented diverse strategies to expand their market presence and strengthen their position in the crypto ATM industry.
Impact of COVID-19
The COVID-19 pandemic has had a significant impact on the crypto ATM industry, with consumers increasingly investing in cryptocurrencies during the crisis. The growth of cryptocurrencies, including Bitcoin, Ethereum, Dogecoin, and others, experienced a notable surge during the pandemic. This surge has become a major driving factor for the crypto ATM market amidst the global health crisis.
Top Impacting Factors
Instant Transactions and Convenient Trading Options Provided by Crypto ATMs
Crypto ATMs enable instant transactions, which contribute to market growth. When making a purchase, as soon as money is inserted into the ATM, the transaction is executed for the full payment amount. Similarly, for sell orders, crypto ATMs eliminate the need for customers to wait for several days to receive cash. Additionally, crypto ATMs provide convenient trading options as users can avoid setting up accounts, online wallets, or dealing with complex public keys. The customer receipt contains a QR code with the public and private keys, which can be easily scanned and recognized by standard wallet apps, facilitating swift transactions. These factors significantly drive the growth of the crypto ATM market.
Limited Acceptance of Cryptocurrencies as a Legal Tender
Due to factors such as volatility, decentralization, perceived threats to existing monetary systems, and associations with illicit activities like drug trafficking and money laundering, several countries do not recognize cryptocurrencies as legal tender. Some nations have banned digital currencies, while others have severed ties with the banking and financial systems essential for cryptocurrency trading and use. For example, Bitcoin is banned in China, Russia, and Vietnam, with banks and financial institutions prohibited from transacting or dealing with it. Moreover, several governments have banned cryptocurrency exchanges, further impeding market growth.
Growing Startups and Investments in the Crypto ATM Market
Many countries are investing in startups specializing in crypto ATMs to boost cryptocurrency exchange. These startups have received significant venture capital funding, indicating the exponential growth potential of the crypto ATM market in the coming years. Investors are attracted to these startups due to the profit-generating capabilities of crypto ATMs, resulting in higher returns on investment. Notable startups such as Robocoin in Las Vegas, Bitcoiniacs in Vancouver, and LibertyX in the United States have attracted billions of dollars in investments. These factors present lucrative opportunities for the growth of the crypto ATM market in the future.
Key Benefits for Stakeholders
- The study provides in-depth analysis of the global crypto ATM market share along with current trends and future estimations to illustrate the imminent investment pockets.
- Information about key drivers, restrains, and opportunities and their impact analysis on the global crypto ATM market size are provided in the report.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the crypto ATM market.
- An extensive analysis of the key segments of the industry helps to understand the crypto ATM market trends.
- The quantitative analysis of the global crypto ATM market forecast from 2021 to 2030 is provided to determine the market potential.
Key Market Segments
- ATM Printer
- QR Scanner
- One Way
- Two Way
- Bitcoin (BTC)
- Ethereum (ETH)
- Bitcoin Cash
- Tether (USDT)
- North America
- Rest of Europe
- Hong Kong
- Rest of Asia-Pacific
- Latin America
- Middle East
Key Market Players
- BITCOIN DEPOT
- Cash Cloud, Inc
- Covault, LLC
- GENERAL BYTES s.r.o.
- Genesis Coin Inc.
- Kurant GmbH
- Lamassu Industries AG
Table and Figures
At MarketDigits, we take immense pride in our 360° Research Methodology, which serves as the cornerstone of our research process. It represents a rigorous and comprehensive approach that goes beyond traditional methods to provide a holistic understanding of industry dynamics.
This methodology is built upon the integration of all seven research methodologies developed by MarketDigits, a renowned global research and consulting firm. By leveraging the collective strength of these methodologies, we are able to deliver a 360° view of the challenges, trends, and issues impacting your industry.
The first step of our 360° Research Methodology™ involves conducting extensive primary research, which involves gathering first-hand information through interviews, surveys, and interactions with industry experts, key stakeholders, and market participants. This approach enables us to gather valuable insights and perspectives directly from the source.
Secondary research is another crucial component of our methodology. It involves a deep dive into various data sources, including industry reports, market databases, scholarly articles, and regulatory documents. This helps us gather a wide range of information, validate findings, and provide a comprehensive understanding of the industry landscape.
Furthermore, our methodology incorporates technology-based research techniques, such as data mining, text analytics, and predictive modelling, to uncover hidden patterns, correlations, and trends within the data. This data-driven approach enhances the accuracy and reliability of our analysis, enabling us to make informed and actionable recommendations.
In addition, our analysts bring their industry expertise and domain knowledge to bear on the research process. Their deep understanding of market dynamics, emerging trends, and future prospects allows for insightful interpretation of the data and identification of strategic opportunities.
To ensure the highest level of quality and reliability, our research process undergoes rigorous validation and verification. This includes cross-referencing and triangulation of data from multiple sources, as well as peer reviews and expert consultations.
The result of our 360° Research Methodology is a comprehensive and robust research report that empowers you to make well-informed business decisions. It provides a panoramic view of the industry landscape, helping you navigate challenges, seize opportunities, and stay ahead of the competition.
In summary, our 360° Research Methodology is designed to provide you with a deep understanding of your industry by integrating various research techniques, industry expertise, and data-driven analysis. It ensures that every business decision you make is based on a well-triangulated and comprehensive research experience.
- Tailored advice to Drive your Performance
- Product Planning Strategy
- New Product Stratergy
- Expanded Research Scope
- Comprehensive Research
- Strategic Consulting
- Provocative and pragmatic
- Accelerate Revenue & Growth
- Evaluate the competitive landscape
- Optimize your partner network
- Analyzing industries
- Mapping trends
- Strategizing growth
- Implementing plans
Covered Key Topics
Market Growth Drivers
Leading Market Players
Company Market Share
Market Size and Growth Rate
Market Trend and Technological