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Crypto ATM Market Research Report Information By Offering (Hardware, Software), By Type (One way, Two way), By Coin (Bitcoin (BTC), Litecoin, Ethereum (ETH), Dogecoin, Bitcoin Cash, Dash, Tether (USDT)) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030.

ID: MRFR/ICT/9366-HCR | 100 Pages | Author: Aarti Dhapte| April 2024

Crypto ATM Market Overview

Crypto ATM Market Size was valued at USD 0.38 Billion in 2021. The Crypto ATM industry is projected to grow from USD 0.73 Billion in 2022 to USD 3.54 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 56.4% during the forecast period (2022 - 2030).Cryptocurrency is a digital currency that can act as an alternative to cash, credit cards, or checks. It is generally transferred electronically, without the involvement of banks. Crypto ATM is a type of cash machine that can handle cryptocurrency transactions. Purchasing cryptocurrency at a crypto ATM begins with first going through KYC. Next, an individual will input the address of his or her crypto wallet and insert the amount of money they intend to spend in cryptocurrency. After inserting cash into a crypto ATM, one must input the public and private keys generated from their cryptocurrency wallet into a machine. Each crypto ATM is capable of printing out a receipt for each transaction, which contains the public and private keys that help secure each purchase.

Figure 1: Middle Office Outsourcing Market Size, 2023-2030 (USD Billion)Crypto ATM Market Overview..Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Crypto ATM Market Trends

Convenience in transactions provided by Crypto ATMs

Crypto ATMs, or Automatic Teller Machines, provide a fast and secure trading experience that is truly unique to other technologies. A buy order transaction will be complete as soon as money has been inserted into the ATM and so will a sell order. The customer won't need to wait several days to receive cash. In addition, crypto ATMs make it easier for customers to trade with ease since users do not need an account or online wallet. Also, there is no lengthy public key or blockchain address setup required and once they've made the deposit, they can begin trading immediately.

The rapid surge of startups and increasing investment in the crypto world

Most countries are investing in startups that specialize in creating cryptocurrency ATMs to boost the growth of the crypto exchange. These startups are getting funding from venture capitalists worth millions, which means that the demand for cryptocurrency ATMs will grow exponentially in the coming years. One would see this as a no-brainer because investors are keen on investing in these startups as they provide a very stable source of profit and thus return on investment is much higher than a fiat currency exchange. Thus, these factors will result in a lucrative opportunity for growth for the market over the coming years.

Crypto ATM Market Segment Insights

Crypto ATM Offering Insights

The market segmentation, based on Offering, includes Hardware and Software. The hardware segment is estimated to hold the largest share of the market for the year 2022. However, the software segment is expected to witness the highest growth over the forecast period due to the growing adoption of cloud services.

Crypto ATM Type Insights

Based on Type, the market segmentation includes One way and Two ways. The two-way segment is anticipated to experience the highest growth in the market in the coming years since these ATMs allow users to both sell and purchase cryptocurrencies.

Crypto ATM Coin Insights

Based on Coin, the market segmentation includes Bitcoin (BTC), Litecoin, Ethereum (ETH), Dogecoin, Bitcoin Cash, Dash, and Tether (USDT). The Bitcoin segment holds the largest share of the market. Bitcoin is increasingly being accepted across the world as a payment method, owing to which the demand for Bitcoin ATMs is on the rise. For an instance, financial service providers are adding Bitcoin services to their portfolios to stay competitive in this new age of digital currency.

Figure 2: Crypto ATM Market, by Offering, 2021 & 2030 (USD Billion)

Crypto ATM Market, by Offering, 2021 & 2030Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Crypto ATM Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. North America accounted for the largest share of the Crypto ATMs market. North America is home to several prominent crypto ATM manufacturers, such as Bitcoin Depot, Coin Cloud, and CoinFlip. Installing crypto ATMs in public places is gaining significant traction in the United States in particular. For instance, Williston, North Dakota announced in November of 2021 that it would become home to a crypto ATM at its main airport that would allow those passing through to buy and sell digital currencies.

Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: CRYPTO ATM MARKET SHARE BY REGION 2021 (%)CRYPTO ATM MARKET SHARE BY REGIONSource: Secondary Research, Primary Research, MRFR Database, and Analyst Review

The Asia Pacific regional market for the two-way cryptocurrency ATM industry is projected to expand significantly over the next few years. Several factors for the growth of the regional market are continuous installations of two-way crypto ATMs across APAC countries such as the Philippines and in addition frequent launches of 5G technology. Besides that, another crucial aspect is the relationships between organizations and their partners.

Crypto ATM Key Market Players & Competitive Insights

The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth. With significant market development such as new product releases, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Crypto ATM industry must offer affordable products.

Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the Crypto ATM industry to benefit customers and expand the market sector. Major market players, including Cash Cloud Inc, Genesis Coin Inc, Kurant, Covault, and others, are attempting to increase market demand by funding R&D initiatives.

Cash Cloud Inc is the creator of payment software that enables customers to use their smartphones to make payments. The company offers community payments, cards, coupons for promotions, and unique localized offers via mobile cell phones, enabling users to make digital payments without problems. The program also assists users in sending money and paying at brick-and-mortar and online retailers.

RockItCoin is a well-known pioneer in the cryptocurrency industry and a leading provider of blockchain technology with its main office in Chicago, Illinois. To fulfill its objective of making cryptocurrencies accessible to the general public, the firm has established a countrywide network of bitcoin ATMs and is focusing on worldwide development.

Key Companies in the Crypto ATM market include

Crypto ATM Industry Development

August 2022, Bitcoin Depot, a crypto ATM operator, announced its plan for a public offering with a merger with the special-purpose acquisition company GSR II Meteora Acquisition Corp. With this strategy the company will be able to accelerate its growth.

Crypto ATM Market Segmentation

Crypto ATM Offering Outlook

  • Hardware

  • Software

Crypto ATM Type Outlook

  • One way

  • Two way

Crypto ATM Coin Outlook

  • Bitcoin (BTC)

  • Litecoin

  • Ethereum (ETH)

  • Dogecoin

  • Bitcoin Cash

  • Dash

  • Tether (USDT)

Crypto ATM Regional Outlook

  • North America

  • US

  • Canada

  • Europe

  • Germany

  • France

  • UK

  • Italy

  • Spain

  • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

Report Attribute/Metric Details
Market Size 2021 USD 0.38 Billion
Market Size 2022 USD 0.73 Billion
Market Size 2030 USD 3.54 Billion
Compound Annual Growth Rate (CAGR) 56.4% (2022-2030)
Base Year 2021
Market Forecast Period 2022-2030
Historical Data 2018 & 2020
Market Forecast Units Value (USD Million)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Component, Deployment, Application, End-users, and Region
Geographies Covered North America, Europe, Asia Pacific, and Rest of the World
Countries Covered The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled BITCOIN DEPOT, Bitstop, Cash Cloud Inc, Coinsource, Covault, GENERAL BYTES, Genesis Coin Inc, Kurant GmbH, Lamassu Industries AG, RockitCoin
Key Market Opportunities The rapid surge of startups and increasing investment in the crypto world
Key Market Dynamics Convenience in transactions provided by Crypto ATMs

Frequently Asked Questions (FAQ) :

The Crypto ATM market size was valued at USD 0.38 Billion in 2021.

The market is projected to grow at a CAGR of 56.4% during the forecast period, 2022-2030.

North America had the largest share of the Crypto ATM market.

The key players in the market are BITCOIN DEPOT, Bitstop, Cash Cloud Inc, Coinsource, Covault, GENERAL BYTES, Genesis Coin Inc, Kurant GmbH, Lamassu Industries AG, RockitCoin.

The Hardware category dominated the market in 2021.

Bitcoin (BTC) had the largest share in the market for Crypto ATMs.

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