Cryptocurrency ATMs Market

Cryptocurrency ATMs Market Outlook - 2030

The digital or virtual money in the form of tokens or coins is known as cryptocurrency. Customers can buy bitcoins with cash deposited at an internet-connected kiosk. A crypto ATM is not the same as a traditional financial institution or bank-backed ATM. Cryptocurrencies were created to be free of government manipulation and control. The crypto ATM market has grown as a result of the adoption of digital transactions as a substitute for cash.

Moreover, its widespread adoption, particularly in developing countries, where it serves as a digital asset acts as a medium of exchange and provides a secure transaction record, avoiding the need for a middleman as it does not exist in physical form and is not regulated by central banks. Therefore, the surge in demand for cryptocurrencies across many economies is expected to boost the cryptocurrency ATMs market in the upcoming years.

The global cryptocurrency ATMs market is segmented on the basis of type, atm hardware, type of coin, enterprise size and region. Based on type, the market is divided into one way and two way. In terms of atm hardware, the market is categorized into display, ATM printer, QR scanner, and others. On the basis of type of coin, the market is divided into bitcoin, dog coin, litecoin, z-cash, dash, monexo, and ethereum. On the basis of enterprise size the market is divided into large enterprise and small & medium enterprises. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).

Key players operating in the global cryptocurrency ATMs industry include Covault, CoinDesk, GENERAL BYTES, Bitaccess, Genesis Coin Inc., Coin ATM Radar, Orderbob Inc., Coinsource, Crunchbase Inc. and BitXatm Technology LLC. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global cryptocurrency ATMs market.

COVID-19 Impact Analysis

• The outbreak of COVID-19 has wreaked havoc on the economy. The recent cryptocurrency market crash should be regarded as a blip on the radar. Cryptocurrencies have proven to be remarkably resilient in the face of such extremes and economic meltdowns.
• Fortunately, the rapid rise in global high-speed internet access and digitization has created a fertile ground for digital currency. However, in most parts of the world, many people are unaware of the entire cryptocurrency scene.

Top Impacting Factors

Increased initiatives taken by governments to legalize crypto and increasing fund transfers in developing economies are driving the growth of the market. In addition, rise in number of installations of crypto ATMs propels the growth of the market. However, lack of awareness and threat of privacy are considered to limit the growth of the market. Contrarily, growing popularity of cryptocurrencies across different economies is said to provide lucrative opportunity for the market.

Increased Initiatives taken by Governments to Legalize Crypto

The widespread adoption of crypto currency as a new medium of exchange has prompted governments in many major countries to legalize the use of Bitcoin and other crypto currencies. Various government-run public stores and retail markets now accept this form of payment, and governments around the world have installed numerous crypto currency ATMs to facilitate transactions.

 The crypto ATM market is driven by electronic currency, making it adoptable in these regions as well, albeit under different names. Moreover, as the government also started to encourage this type of international money transfer, the increase in demand for crypto ATMs is expected to enhance the growth of the market during the forecast period.

Increasing Fund Transfers in Developing Economies

Emerging economies are making a significant contribution to the crypto ATM market, particularly in terms of e-commerce and academic institutions by providing a variety of transaction methods. Unstable financial transactions make cryptocurrency an attractive medium for adoption as it offers a new trend in quick and secure transactions.

Cryptocurrency ATMs are used for transactions in areas where majority of people do not have their own bank accounts. Moreover, the addition of new crypto currency ATMs to improve global connectivity aids in the easy fund transfers between different economies. Therefore, the rise in demand for the growth of cryptocurrency will help in boosting the growth of the cryptocurrency ATMs market during the forecast period.

Key Benefits of the Report

• This study presents analytical depiction of the cryptocurrency ATMs market forecast along with the current trends and future estimations to determine the imminent investment pockets.      
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.     
• The current market is quantitatively analyzed to highlight the cryptocurrency ATMs market growth scenario.                   
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the cryptocurrency ATMs market share.        
• The report provides a detailed cryptocurrency ATMs market analysis on the basis of present and future competitive intensity of the market.

Questions answered in the Cryptocurrency ATMs Market Report

• Which are the leading players active in the cryptocurrency ATMs market size?
• What are the detailed impacts of COVID-19 on the cryptocurrency ATMs market trends?
• What current trends will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?

 Cryptocurrency ATMs Market Report Highlights