Report: North America to dominate in crypto ATM market by 2023

August 30, 2018


Report: North America to dominate in crypto ATM market by 2023

Growing fund transfers in developing countries and popularity of cryptocurrencies over various industries will be leading to crypto ATM market growth from USD 16.3 million in 2018 to USD 144.5 million by 2023.

The new research by MarketsandMarkets reveals that by 2023 North America, especially the US, which has the largest number of crypto ATM hardware and software providers and comfortable environment for investments will dominate in the crypto ATM market.

The study indicates that 2-way crypto ATMs with which a user can buy and sell cryptocurrency using a single machine will grow at highest compound annual growth rate (CAGR) in upcoming 5 years. At the same time, the report remarks that despite the prediction, nowadays 1-way crypto ATMs occupy 62.26% of the total market.

The key players of the crypto ATM market at this moment are GENERAL BYTES (the Czech Republic), Genesis Coin (US), Lamassu (UK), COVAULT (US), Bitaccess (Canada), Coinme (US), Coinsource (US), Bitxatm (German), Orderbob (Austria) and RUSbit (Russia).

Meanwhile, according to Coinatmradar, currently over 3,600 bitcoin ATMs are operating globally. The leader is North America where more than 2600 bitcoin ATMs are installed. The recent data shows that the US has 2,073 ATM’s and the number of the machines in Canada is 562.

Europe gets the second place where the most ATMs can be found in Austria, the United Kingdom, the Czech Republic and Russia.