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2021

Crypto ATM Market

Crypto ATM Market Size, Share, Competitive Landscape and Trend Analysis Report by Offering, Type and Coin : Global Opportunity Analysis and Industry Forecast, 2021-2030

BI : Financial Services

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Author's: Aarti Goswami| Pramod Borasi | Onkar Sumant
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Crypto ATM Market Outlook – 2030 

The global crypto ATM market size was valued at $35,80 million in 2020, and is projected to reach $3,557.05 million by 2030, growing at a CAGR of 58.5% from 2021 to 2030.

Cryptocurrency is the alternative form of payment to cash, credit cards, and check. In cryptocurrency, the customer directly sends money without interaction with the bank. Crypto ATM is the ATM from which individuals can transfer cryptocurrency easily through an ATM machine. For purchasing cryptocurrency through the crypto ATM, the individual must go through KYC, input the address of the crypto wallet to make deposit into, insert the order money through crypto ATM, and finally confirm the transaction. The crypto ATM auto-generates receipts for every transaction. These receipts contain public and private keys in the form of QR code for security purpose.

Crypto ATM Market (2021 - 2030)

Crypto ATMs provide easier trading options for customers, and users do not need to set up an account, online wallet, or deal with lengthy public keys. In addition, growing demand for cryptocurrencies and surge in number of crypto adopters suggest a shift in the investment paradigm, which is mostly driven by the growing younger population, thereby propelling the crypto ATM market growth. However, limited acceptance of cryptocurrencies as a legal tender and fewer locations & limited availability of ATM and kiosk hampers the growth of the market. On the contrary, growing number of startups increasingly investing in cryptocurrencies and generating profits with an aim of higher return on investment is becoming a major factor anticipated to provide potential growth opportunity for the market. 

The report focuses on growth prospects, restraints, and trends of the crypto ATM market analysis. The study provides Porter’s five forces analysis to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the crypto ATM market outlook.

Segment Review

The crypto ATM market is segmented into offering, type, coin, and region. By offering, the market is bifurcated into hardware and software. The hardware segment is further segregated into display, ATM printer, QR scanner, and others Based on type, the market is divided into one way and two ways. Coins covered in the study include bitcoin (BTC), litecoin, ethereum (ETH), dogecoin, bitcoin cash, dash, tether (USDT), and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. 

The report analyzes the top crypto ATM companies operating in the market such as 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 adopted various strategies to increase their market penetration and strengthen their position in the crypto ATM industry. 

COVID-19 Impact Analysis

COVID-19 pandemic has a significant impact on the crypto ATM industry, as consumers have increasingly invested in cryptocurrencies during the pandemic. In addition, before the pandemic, the growth of cryptocurrencies had been slow but during the pandemic, there is significant growth in the investment in Bitcoin, Ethereum, Dogecoin, and others. This, in turn, has become one of the major growth factors for the crypto ATM market during the global health crisis. 

Crypto ATM Market
By Type
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One Way segment accounted for the highest market share in 2020

Top Impacting Factors

Crypto ATMs Provide Instant Transaction and Easier Trading Options 

Crypto ATMs engage in an instant transaction process, which propels the market growth. For buy order, as soon as money has been inserted into the ATM, a purchase is executed for the total payment amount. In addition, if the customer is looking to make a sell order, the crypto ATMs make it, so that customers no longer need to wait several days to receive cash. Furthermore, it provides easier trading options for customers, and users do not need to set up an account, online wallet, or deal with lengthy public keys. The customer receipt contains a QR code, with the public & private key, which can be scanned and immediately recognized by standard wallet apps, and a transaction can be easily executed. Thus, these are the major factors boosting the growth of the crypto ATM market.

Limited Acceptance of Cryptocurrencies as a Legal Tender

Several countries have denied considering cryptocurrencies to be a legal tender due to its volatility, decentralized nature, perceived threat to current monetary systems, and links to illicit activities such as drug trafficking and money laundering. Some nations have banned digital currency while others have tried to cut off any support from the banking and financial system essential for its trading and use. Bitcoin is essentially banned in China, Russia, and Vietnam. All banks and other financial institutions, such as payment processors, are prohibited from transacting or dealing in Bitcoin. Furthermore, cryptocurrency exchanges are banned by several country governments, which further hampers the market growth.  

Crypto ATM Market
By Coin
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Bitcoin (BTC) segment aquired major share during the forecast period.

Growing Startups and Investments in the Crypto ATM Market

Most countries are investing in startups for crypto ATMs to boost the growth of cryptocurrency exchange. These startups are getting venture capital funding worth millions, thus proving that the market for crypto ATMs will grow exponentially in the coming years. Moreover, investors are keen on investing in these startups as crypto ATMs are a good source of generating profits, and thus return on investment is higher.

Startups, such as Las Vegas-based Robocoin, Vancouver-based Bitcoiniacs, and the U.S.-based LibertyX, have generated trillion dollars of investments. Therefore, these factors will provide lucrative opportunities for the growth of the crypto ATM market in the coming years.  

Crypto ATM Market
By Region
2030
North America 
Europe
Asia-Pacific
LAMEA

Asia-Pacific would exhibit the highest CAGR of 64.0% during 2021-2030

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     

Crypto ATM Market Report Highlights

Aspects Details
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By Offering
  • Hardware
    • Display
    • ATM Printer
    • QR Scanner
    • Others
  • Software
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By Type
  • One Way
  • Two Way
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By Coin
  • Bitcoin (BTC)
  • Litecoin
  • Ethereum (ETH)
  • Dogecoin
  • Bitcoin Cash
  • Dash
  • Tether (USDT)
  • Others
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (France, Germany, Italy, Spain, UK, Russia, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, South Africa, Saudi Arabia, UAE, Argentina, Rest of LAMEA)
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Key Market Players

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

Analyst Review

Benefits associated with crypto ATM, such as increased convenience & reduced transaction time, security & transaction flexibility, and instant transaction process, drive the market growth. Moreover, developments in the crypto space due to rise of non-fungible tokens (NFTs), which basically provides an ownership of unique items such as art, collectibles, and even real estate. Furthermore, there is an increased demand for crypto credit cards, which function much like traditional credit cards and consumers largely engage in flexible spending with enhanced rewards through crypto credit cards. These factors are accelerating the growth of the crypto ATM market during the forecast period.

The COVID-19 outbreak has a significant impact on the crypto ATM market and has accelerated the usage & adoption of crypto ATM in the market. In addition, several crypto ATM providers are enhancing their offerings to sustain during the health crisis by increasing the availability of ATM kiosks at several spaces and providing compensation free transactions to the users.

The crypto ATM market is consolidated with the presence of regional vendors such as Covault, LLC, Kurant GmbH, and Cash Cloud, Inc. Some of the key players profiled in the crypto ATM market report include BITCOIN DEPOT, Bitstop, Coinsource, GENERAL BYTES s.r.o., Genesis Coin Inc., Lamassu Industries AG, and RockitCoin. Major players operating in this market have witnessed significant adoption of strategies that include business expansion and partnership to reduce supply and demand gap. With increase in awareness & demand for crypto ATM across the globe, major players are providing differentiated and innovative products.

Author Name(s) : Aarti Goswami| Pramod Borasi | Onkar Sumant
Frequently Asked Questions?

The crypto ATM market is estimated to grow at a CAGR of 58.5% from 2021 to 2030.

The crypto ATM market is projected to reach $3,557.05 million by 2030.

To get the latest version of sample report

Customer receipt contains a QR code, with the public & private key, which can be scanned and immediately recognized by standard wallet apps, and a transaction can be easily executed.

The key players profiled in the report include BITCOIN DEPOT, Bitstop, Cash Cloud, Inc, Coinsource, and many more.

On the basis of top growing big corporations, we select top 10 players.

The crypto ATM market is segmented on the basis of offering, type, coin, and region.

The key growth strategies of crypto ATM market players to increase their market penetration and strengthen their position in the crypto ATM industry.

Two Way segment would grow at a highest CAGR of 61.5% during the forecast period.

North America region will dominate the market by the end of 2030.

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Crypto ATM Market

Global Opportunity Analysis and Industry Forecast, 2021-2030