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Crypto ATM Market Size
- Report ID: GMI2944
- Published Date: Apr 2022
- Report Format: PDF
Crypto ATM Market Size
Crypto ATM Market size exceeded USD 250 million in 2021 and is projected to expand at over 50% CAGR from 2022 to 2028.
A crypto ATM is a terminal that allows buying or selling of currencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and others with the help of bank cards, payment gateways, and cash. In this process, ATMs/kiosks relate to the crypto network and allow consumers to buy crypto tokens by depositing cash. Every transaction is automatically documented by a receipt produced by the crypto ATM. A crypto ATM may ask to scan a government ID proof or can ask the mobile number to send a text verification code before completing the transaction.
The market is witnessing a rise in public awareness about cryptocurrencies, supporting the usage of crypto ATMs from individual bitcoin miners to investors. Cryptocurrency transaction platforms are being offered by digital payment service providers, encouraging market players to design robust products. For instance, in March 2021, PayPal Holdings, Inc. introduced Checkout with Crypto, a new service that significantly improves cryptocurrency usage. Checkout with Crypto allows users to check out safely and easily by converting existing cryptocurrency assets to cash at checkout with the assurance of value and no extra transaction fees. This, in turn, is acting as a growth inducer and helping the crypto ATM market grow at a substantial rate as various financial service providers are including bitcoin services in their portfolios.
| Report Attribute | Details |
|---|---|
| Base Year: | 2021 |
| Crypto ATM Market Size in 2021: | USD 250 million |
| Forecast Period: | 2022 to 2028 |
| Forecast Period 2022 to 2028 CAGR: | 50% |
| 2028 Value Projection: | USD 4.5 billion |
| Historical Data for: | 2018 to 2021 |
| No. of Pages: | 250 |
| Tables, Charts & Figures: | 295 |
| Segments covered: | Component, Coin Type, Type, and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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The COVID-19 pandemic had a moderate impact on the crypto ATM industry in FY2020. The market experienced a slight downfall in 2020 as the pandemic led various governments to enforce stringent containment measures, region-wide lockdowns, large-scale movement restrictions, social distancing, and a quarantine period, however, witnessed a rise in the first quarter of 2021 as crypto ATMs enabled customers to transfer and receive cryptocurrencies online without any physical contact. Crypto ATM manufacturers are increasingly creating a safer environment for cash-to-cryptocurrency, which will drive the industry demand in FY 2022.
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Crypto ATM Market Scope
