Market Research Future Insights
According to MRFR analysis, the global Crypto ATM market is expected to register a CAGR of ~56.5% from 2022 to 2030 and hold a value of over USD 3.4 Billion by 2030.
Digital money known as cryptocurrency can be used in place of cash, credit cards, and cheques. The majority of the time, it is moved electronically without the help of banks. A type of cash machine known as a crypto ATM may process cryptocurrency transactions. The first step in buying bitcoin from a crypto ATM is to complete KYC.
A person will next enter the address of their bitcoin wallet and the amount they want to spend in cryptocurrency. One must enter the public and private keys produced from their cryptocurrency wallet into a device after inserting cash into a crypto ATM. The public and private keys that assist secure each transaction are printed out on the receipt for each transaction by each crypto ATM. The widespread outbreak of COVID-19, an illness with symptoms similar to the common cold, had a substantial effect on the market for cryptocurrency ATMs.
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Crypto ATM Market Report Scope:
|Revenue Forecast in 2030:
|USD 3.4 Billion
|CAGR of 56.5% from 2022 to 2030
|Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
During the epidemic, consumers began investing more and more in cryptocurrencies, which dramatically increased the need for crypto ATMs. Before 2020, when COVID-19 began to influence major portions of Asia, the rise of cryptocurrencies had been modest. However, the emergence of cryptocurrencies and the practice of buying goods to use as barter during an epidemic or other form of a health crisis that can disrupt financial systems became the main drivers of expansion in this industry.
The market for cryptocurrency ATMs was dominated by North America. Several well-known crypto ATM producers, like Bitcoin Depot, Coin Cloud, and CoinFlip, are based in North America. In the US, installing cryptocurrency ATMs in public spaces is becoming increasingly popular. For instance, Williston, North Dakota said in November 2021 that its main airport will include a crypto ATM that would enable travelers to purchase and sell virtual currencies.
The Global Crypto ATM market has been segmented into Offering, Type, and Coin.
Based on the Offering, the market has been segmented into Hardware, Software.
Based on the Type, the market has been segmented into One way, Two ways.
Based on the Coin, the market has been segmented into Bitcoin (BTC), Litecoin, Ethereum (ETH), Dogecoin, Bitcoin Cash, Dash, and Tether (USDT).
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Some of the key market players are BITCOIN DEPOT, Bitstop, Cash Cloud Inc, Coinsource, Covault LLC, GENERAL BYTES, Genesis Coin Inc, Kurant, Lamassu Industries, and RockitCoin.
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