Crypto Atm Market

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.

Segment Analysis
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.

Key Players
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

By Offering

• Hardware
  • Display
  • ATM Printer
  • QR Scanner
  • Others
• Software

By Type

• One Way
• Two Way

By Coin

• Coin
• Bitcoin (BTC)
• Litecoin
• Ethereum (ETH)
• Dogecoin
• Bitcoin Cash
• Dash
• Tether (USDT)
• Others

By Region

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Netherlands
  • Rest of Europe
• Asia-Pacific
  • Hong Kong
  • Australia
  • Thailand
  • Taiwan
  • Singapore
  • Rest of Asia-Pacific  
• LAMEA
  • Latin America
  • Middle East
  • Africa

Key Market Players

• BITCOIN DEPOT
• Bitstop
• Cash Cloud, Inc
• Coinsource
• Covault, LLC
• GENERAL BYTES s.r.o.
• Genesis Coin Inc.
• Kurant GmbH
• Lamassu Industries AG
• RockitCoin