Crypto ATM Market Share, Size, Trends, Industry Analysis Report, By Type (One Way, Two Way); By Offering; By Type of Coin; By Region; Segment Forecast, 2023- 2032

Crypto ATM Market Share, Size, Trends, Industry Analysis Report, By Type (One Way, Two Way); By Offering; By Type of Coin; By Region; Segment Forecast, 2023- 2032

The global crypto atm market size is expected to reach USD 632.51 billion by 2032, according to a new study by Polaris Market Research. The report “Crypto ATM Market Share, Size, Trends, Industry Analysis Report, By Type of Coin (Bitcoin, Ethereum, Dogecoin, Litecoin, and Others); By Type; By Offering; By Region; Segment Forecast, 2023- 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Cryptocurrency provides an alternative to conventional payment methods such as cash, credit cards, and checks, enabling direct fund transfers without the need for a bank intermediary. A Crypto ATM facilitates convenient cryptocurrency transactions for individuals. To acquire cryptocurrency through a Crypto ATM, users need to complete KYC verification, enter the recipient's crypto wallet address, deposit the specified amount via the ATM, and confirm the transaction. Each transaction generates an automatic receipt from the Crypto ATM, which includes public and private keys in the form of QR codes for added security.

The expanding realm of cryptocurrency worldwide enables individuals and businesses to engage in the global economy without relying on traditional financial intermediaries.

The COVID-19 pandemic has significantly spurred the demand for crypto ATMs. With a substantial decline in the use of traditional cash dispensers during the pandemic, there has been a notable surge in the demand for cryptocurrency. Many countries are now investing in startups that focus on crypto ATMs to bolster the growth of cryptocurrency exchanges. Consequently, these factors have played a pivotal role in expanding the size of the crypto ATM market amidst the pandemic situation.

Factors affecting the growth of the crypto ATM market are rising security concerns and high operational costs. Given the nature of cryptocurrency, security is paramount. Both operators and users need assurance that transactions are secure and funds are protected. Instances of hacking or fraud can erode trust in the technology and hinder adoption.

Similarly, setting up and maintaining a network of Crypto ATMs can be capital-intensive. Factors such as hardware, software, security measures, and regulatory compliance can all contribute to high operational costs, potentially limiting profitability.

Crypto ATM Market Report Highlights

In 2022, the one-way segment held the largest market share, mainly due to technological advancements.

The software segment is expected to witness the highest growth during the forecast period on account of enhanced accessibility.

The Bitcoin segment held a significant revenue share in 2022, mainly due to worldwide acceptance.

North American region dominated the largest market with a majority share in 2022, owing to exponential growth in technology and rising R&D investments across its countries.

The global key market players include Bitaccess Inc., Coin Cloud, CoinFlip Solutions LLC, GENERAL BYTES s.r.o., Robocoin Kiosk, etc.

Polaris Market Research has segmented the crypto ATM market report based on type, offering, type of coin, and region:

Crypto ATM, Type Outlook (Revenue - USD Billion, 2019 - 2032)

One Way

Two Way

Crypto ATM, Offering Outlook (Revenue - USD Billion, 2019 - 2032)

Hardware

Software

Crypto ATM, Type of Coin Outlook (Revenue - USD Billion, 2019 - 2032)

Bitcoin

Ethereum

Dogecoin

Litecoin

Others

Crypto ATM, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Latin America

Argentina

Brazil

Mexico

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa