The Bitcoin ATMs market is expected to grow at a CAGR of 57.4% to reach USD 1,590.54 million in 2029.
The global Bitcoin ATMs market was valued at USD 24.8 million in 2019. Cryptocurrency is a payment method that is different from cash, credit cards, and checks. In bitcoin, the client sends money directly without interacting with the bank. A crypto ATM is a type of ATM that allows people to quickly transfer cryptocurrency using an ATM machine. To purchase cryptocurrency using a crypto ATM, the individual must first go through KYC, then enter the address of the crypto wallet into which the deposit will be made, then inject the order money through the crypto ATM, and lastly complete the transaction.
Every transaction is automatically accompanied by a receipt generated by the crypto ATM. For security purposes, these receipts include public and private keys in the form of a QR code.
Customers have more trading possibilities with cryptocurrency ATMs, and they don't have to set up an account, an online wallet, or deal with long public keys. Furthermore, rising demand for cryptocurrencies and an increase in the number of crypto users indicate a shift in the investing paradigm, which is mostly driven by the expanding younger population, accelerating the crypto ATM market expansion.
Bitcoin Atms Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2029||USD 1,590.54 million|
|Growth Rate||CAGR of 57.4 % during 2021-2029|
|Segment Covered||Product Type, End- User, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||General Bytes, Genesis Coin, Lamassu, Bitaccess, Covault, Bitxatm, Orderbob, Rusbit.|
Key segments of the global Bitcoin ATMs market
Type Overview, (USD Million)
- 1 Way
- 2 Way
Hardware Overview, (USD Million)
- Infection Management
End User Overview, (USD Million)
- ATM Printer
- QR Scanner
Regional Overview, (USD Million)
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
Reasons for the study
- Increasing Government Support for the cryptocurrency Industry
- Growth in digital currency market
What does the report include?
- The study on the global Bitcoin ATMs market includes analysis of qualitative market indicators such as drivers, restraints, challenges and opportunities
- Additionally, the market competition has been evaluated using the Porter’s five forces analysis
- The study covers qualitative and quantitative analysis of the market segmented on the basis of Product, end use, Application. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the considered segments
- The study includes the profiles of key players in the market with a significant global and/or regional presence
Who should buy this report?
- The report on the global Bitcoin ATMs market is suitable for all the players across the value chain including raw material suppliers, Bitcoin ATMs providers, pharmaceutical and medical device manufacturers, distributors, suppliers and retailers
- Venture capitalists and investors looking for more information on the future outlook of the global Bitcoin ATMs market
Consultants, analysts, researchers, and academicians looking for insights shaping the global Bitcoin ATMs market
Frequently Asked Questions (FAQ) :
Crypto ATMs facilitate rapid transactions, propelling industry expansion. When a buy order is placed, a purchase for the complete payment amount is made as soon as money is deposited into the ATM. Furthermore, if the consumer wishes to put a sell order, the crypto ATMs facilitate it, so that customers no longer have to wait many days to obtain cash. Furthermore, it simplifies trading alternatives for consumers, and users do not need to create an account, an online wallet, or deal with long public keys.
The customer receipt includes a QR code with the public and private keys, which can be scanned and instantly recognised by ordinary wallet apps, allowing a transaction to be simply completed. As a result, these are the primary drivers driving the expansion of the crypto ATM business.
The global market is segmented on the basis of type and hardware. The product segment is further broken down to one way and two way. In terms of hardware, the market is bifurcated into Display, ATM Printer, QR Scanner, Others. Because of its multifunctionality, 2-way crypto ATMs are becoming increasingly popular. A 2-way crypto ATM provides a variety of alternatives for exchanging cryptocurrency and fiat money. A 2-way ATM allows a user to purchase and sell cryptocurrency using a single machine. These ATMs are mostly found in North America. Because cryptocurrency ATMs are widely utilised by cryptocurrency investors, the market for 2-way crypto ATMs is likely to rise at a rapid pace throughout the forecast period.
On the basis of region, the global market is classified into North America, Europe, Asia Pacific, Central & South America, and Middle East and Africa. In 2019, North America dominated the global market and is antipcated to maintain its leading position through 2028. Due to its volatility, decentralised nature, perceived danger to established monetary systems, and linkages to criminal activities such as drug trafficking and money laundering, some nations have refused considering cryptocurrencies to be legal tender. Most nations are investing in companies for bitcoin ATMs in order to accelerate the expansion of cryptocurrency exchange. These firms are receiving millions in venture capital financing, demonstrating that the market for crypto ATMs will increase tremendously in the next years. Furthermore, investors are interested in investing in these firms since crypto ATMs are a solid source of profit, and hence the return on investment is better.
Key players in the market include General Bytes, Genesis Coin, Lamassu, Bitaccess, Covault, Bitxatm, Orderbob, Rusbit.