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Crypto ATM Market

Global Crypto ATM Market Size, Share, Trends, Forecast: By Offering: Hardware, Software; By Type: One Way, Two Way; By Coin Type: Bitcoin, Dogecoin, Ethereum, Litecoin, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Competitive Landscape; 2024-2032

Global Crypto ATM Market Outlook

The global crypto ATM market size reached approximately USD 87.35 million in 2023. The market is projected to grow at a CAGR of 45.7% between 2024 and 2032, reaching a value of around USD 2,584.55 billion by 2032.

 

Key Takeaways

  • Cryptocurrency ATMs offer a variety of services such as biometric authentication and multi-currency support.
  • Some cryptocurrency ATM operators are exploring partnerships and integrations with traditional banking systems.
  • North America occupies a substantial share in the crypto ATM market due to the rising technological efforts by market players.

 

Crypto ATM is an internet-connected kiosk that offers the provision of exchanging cash for cryptocurrencies such as Bitcoin or Ethereum, among others. This ATM provides users the facility to scan the QR code corresponding to their crypto wallet for the transfer of crypto coins.

 

The growing diversification of cryptocurrencies is one of the key factors driving the crypto ATM market growth. Manufacturers are offering cryptocurrencies beyond Bitcoin, Dogecoin, and Ethereum for sale at these ATMs to aid users in mitigating investment risks. Several traditional ATMs now offer the feature of purchasing cryptocurrencies such as Bitcoin and Ethereum, which also provides impetus to the market growth. Two-way crypto ATMs that offer both buy and sell functionality are also gaining robust popularity among users as they provide the facility of acquisition and liquidation of crypto coins in one place, enhancing user convenience. Market players are adopting strategic measures such as partnerships and collaborations to enhance their crypto ATM offerings by extending the range of digital currencies available at their ATMs.

 

Key Trends and Developments

Diversification of cryptocurrencies; enhanced security features; mobile app integration; and user-friendly interfaces are the major trends impacting the crypto ATM market expansion

 

July, 2023

Genesis Coin, a provider of Bitcoin ATM software, announced that it has purchased 5,700 cryptocurrency ATMs from CoinCloud.

 

September, 2023

Bitbuy announced that it has formed a strategic partnership with the Canadian cryptocurrency ATM company Localcoin.

 

March, 2024

Coinme, a prominent cryptocurrency cash exchange in the United States, announced the inclusion of more than 9,700 physical Bitcoin ATM locations on the Bitcoin.com site and map finder.

 

March, 2024

Bullet Blockchain Inc., a software development company, announced that it has installed 10 Bitcoin ATMs in Georgia.

 

Diversification of cryptocurrencies

There is a growing trend toward ATMs that support multiple cryptocurrencies, including Ethereum, Litecoin, Bitcoin Cash, and others, aiding the crypto ATM market development.

 

Enhanced security features

As security concerns remain a top priority, crypto ATM manufacturers are continuously improving security features, such as biometric authentication and advanced encryption.

 

Mobile app integration

There is a trend toward integrating crypto ATMs with mobile apps, allowing users to manage their transactions and locate nearby ATMs.

 

User-friendly interfaces

Crypto ATM manufacturers are focusing on developing user-friendly interfaces and simplifying the transaction process.

 

Crypto ATM Market Trends

Cryptocurrency users have diverse preferences and may hold a variety of digital currencies. ATMs that support multiple cryptocurrencies cater to a broader user base, allowing individuals to conduct transactions with their preferred coins. Multi-cryptocurrency ATMs provide users with a one-stop solution for buying and selling different types of cryptocurrencies and this convenience is especially appealing for users who engage in trading or investing in multiple digital currencies.

 

Players in the crypto ATM market are expanding their ATMs to enhance their market outreach. For instance, Coinme announced the inclusion of over 9,700 physical Bitcoin ATM locations on the Bitcoin.com site and map finder in March 2024. This move could help drive further adoption of cryptocurrencies by making them more accessible to the general public.

 

Market Segmentation

“Crypto ATM Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

 

Market Breakup by Offering

  • Hardware
  • Software

 

Market Breakup by Type

  • One Way
  • Two Way

 

Market Breakup by Coin Type

  • Bitcoin
  • Dogecoin
  • Ethereum
  • Litecoin
  • Others

 

Market Breakup by Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

 

One way ATMs account for a major crypto ATM market share due to their cost-effectiveness and widespread availability

One way ATMs occupy a substantial market share. One-way ATMs allow users to buy cryptocurrencies using fiat currency, but they do not support reverse transactions (i.e., selling cryptocurrencies for fiat currency). One-way ATMs are simpler in design and operation, which often makes them cheaper to install and maintain. Due to their lower cost and simpler functionality, one-way ATMs have gained popularity among customers.

 

Two-way ATMs are anticipated to gain a sizeable growth in the coming years. These ATMs offer both functionalities where users can buy cryptocurrencies using fiat currency and also sell cryptocurrencies for fiat currency. Two-way ATMs provide greater flexibility and convenience for users, but they are more complex and expensive to install and operate.

 

Bitcoin maintains its dominance in the market due to its high-end security features

Bitcoin occupies a significant portion of the crypto ATM market share due to its widespread usage as a digital payment method across the world. As its excellent security and protection feature makes it a viable investment option for users, financial service providers are integrating Bitcoin facilities into their service portfolio.

 

Meanwhile, Litecoin is anticipated to witness sizeable growth in the forecast period as it can handle a high volume of transactions compared to Bitcoin. Ethereum is also expected to gain a substantial rate in the crypto ATM market in the forecast period. Ethereum is widely recognised and used, especially for its smart contract capabilities. Many crypto ATMs that support multiple cryptocurrencies include Ethereum due to its popularity and demand among users.

 

Competitive Landscape

The market players are innovating by offering additional services beyond simple buy/sell transactions, such as crypto-to-crypto exchanges

 

Genesis Coin Inc., incorporated in 2013, is an autonomous provider of Bitcoin ATMs and offers superior quality ATMs with features such as high-definition cameras, and EMV card readers, among others.

 

GENERAL BYTES s.r.o. is one of the major manufacturers of crypto ATMs, founded in 2013 and headquartered in Prague, Czech Republic, and Bradenton, Florida, the United States.

 

Byte Federal, Inc., established in 2016, is a Bitcoin ATM provider, with its headquarters in Florida, the United States. The company also offers ByteWallet for management of crypto transactions and ByteConnect

 

AtmMachines.com, LLC is a leading provider of ATM solutions for businesses across various industrial sectors with a focus on delivering reliable and efficient ATM services.

 

Other market players include Lamassu Industries AG, Bitaccess Inc., Cambio Finance, CoinSolution, and ATM OPS LLC., among others.

 

Crypto ATM Market Analysis by Region

North America accounts for a substantial share of the global market due to the extensive network of cryptocurrency users in the region. The surge in the deployment of crypto ATMs in public places such as airports, gas stations, and malls also supports the market. Efforts by market players to enhance the functionalities of their ATMs and gain a competitive edge further provide lucrative opportunities for market expansion. Simultaneously, the Asia Pacific is expected to register itself as a fast-growing market due to the proliferation of digital currencies in countries like China and India, among others.

 

The demand for cryptocurrency ATMs (Automated Teller Machines) in the Asia Pacific region has grown rapidly. The region has witnessed a significant increase in cryptocurrency adoption, driven by factors such as rapid digitalisation, increasing internet penetration, and a young, tech-savvy population.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Offering
  • Type
  • Coin Type
  • Region
Breakup by Offering
  • Hardware
  • Software
Breakup by Type
  • One Way
  • Two Way
Breakup by Coin Type
  • Bitcoin
  • Dogecoin
  • Ethereum
  • Litecoin
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Genesis Coin Inc.  
  • GENERAL BYTES s.r.o.  
  • Byte Federal, Inc. 
  • AtmMachines.com, LLC  
  • Lamassu Industries AG
  • Bitaccess Inc.  
  • Cambio Finance  
  • CoinSolution  
  • ATM OPS LLC.  
  • Others

 

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description   

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Crypto ATM Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Crypto ATM Historical Market (2018-2023) 
    8.3    Global Crypto ATM Market Forecast (2024-2032)
    8.4    Global Crypto ATM Market by Offering
        8.4.1    Hardware
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Software
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
    8.5    Global Crypto ATM Market by Type
        8.5.1    One Way
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Two Way
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
    8.6    Global Crypto ATM Market by Coin Type
        8.6.1    Bitcoin
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Dogecoin
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Ethereum
            8.6.3.1    Historical Trend (2018-2023)
            8.6.3.2    Forecast Trend (2024-2032)
        8.6.4    Litecoin
            8.6.4.1    Historical Trend (2018-2023)
            8.6.4.2    Forecast Trend (2024-2032)
        8.6.5    Others
    8.7    Global Crypto ATM Market by Region
        8.7.1    North America
            8.7.1.1    Historical Trend (2018-2023)
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Europe
            8.7.2.1    Historical Trend (2018-2023)
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Asia Pacific
            8.7.3.1    Historical Trend (2018-2023)
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    Latin America
            8.7.4.1    Historical Trend (2018-2023)
            8.7.4.2    Forecast Trend (2024-2032)
        8.7.5    Middle East and Africa
            8.7.5.1    Historical Trend (2018-2023)
            8.7.5.2    Forecast Trend (2024-2032)
9    North America Crypto ATM Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023)
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023)
        9.2.2    Forecast Trend (2024-2032)
10    Europe Crypto ATM Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023)
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023)
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023)
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023)
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Crypto ATM Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023)
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023)
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023)
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023)
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023)
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Crypto ATM Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023)
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023)
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023)
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Crypto ATM Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023)
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023)
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023)
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023)
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price  
15    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles
        15.2.1    Genesis Coin Inc. 
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    GENERAL BYTES s.r.o. 
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    Byte Federal, Inc.
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    AtmMachines.com, LLC 
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    Lamassu Industries AG 
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6     Bitaccess Inc.
            15.2.6.1    Company Overview
            15.2.6.2    Product Portfolio
            15.2.6.3    Demographic Reach and Achievements
            15.2.6.4    Certifications
        15.2.7     Cambio Finance
            15.2.7.1    Company Overview
            15.2.7.2    Product Portfolio
            15.2.7.3    Demographic Reach and Achievements
            15.2.7.4    Certifications
        15.2.8     CoinSolution
            15.2.8.1    Company Overview
            15.2.8.2    Product Portfolio
            15.2.8.3    Demographic Reach and Achievements
            15.2.8.4    Certifications
        15.2.9     ATM OPS LLC.
            15.2.9.1    Company Overview
            15.2.9.2    Product Portfolio
            15.2.9.3    Demographic Reach and Achievements
            15.2.9.4    Certifications
        15.2.10     Others
16    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Crypto ATM Market: Key Industry Highlights, 2018 and 2032
2.    Global Crypto ATM Historical Market: Breakup by Offering (USD Million), 2018-2023
3.    Global Crypto ATM Market Forecast: Breakup by Offering (USD Million), 2024-2032
4.    Global Crypto ATM Historical Market: Breakup by Type (USD Million), 2018-2023
5.    Global Crypto ATM Market Forecast: Breakup by Type (USD Million), 2024-2032
6.    Global Crypto ATM Historical Market: Breakup by Coin Type (USD Million), 2018-2023
7.    Global Crypto ATM Market Forecast: Breakup by Coin Type (USD Million), 2024-2032
8.    Global Crypto ATM Historical Market: Breakup by Region (USD Million), 2018-2023
9.    Global Crypto ATM Market Forecast: Breakup by Region (USD Million), 2024-2032
10.    North America Crypto ATM Historical Market: Breakup by Country (USD Million), 2018-2023
11.    North America Crypto ATM Market Forecast: Breakup by Country (USD Million), 2024-2032
12.    Europe Crypto ATM Historical Market: Breakup by Country (USD Million), 2018-2023
13.    Europe Crypto ATM Market Forecast: Breakup by Country (USD Million), 2024-2032
14.    Asia Pacific Crypto ATM Historical Market: Breakup by Country (USD Million), 2018-2023
15.    Asia Pacific Crypto ATM Market Forecast: Breakup by Country (USD Million), 2024-2032
16.    Latin America Crypto ATM Historical Market: Breakup by Country (USD Million), 2018-2023
17.    Latin America Crypto ATM Market Forecast: Breakup by Country (USD Million), 2024-2032
18.    Middle East and Africa Crypto ATM Historical Market: Breakup by Country (USD Million), 2018-2023
19.    Middle East and Africa Crypto ATM Market Forecast: Breakup by Country (USD Million), 2024-2032
20.    Global Crypto ATM Market Structure

Key Questions Answered in the Report

In 2023, the market reached an approximate value of USD 87.35 million.

The market is projected to grow at a CAGR of 45.7% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032, reaching a value of around USD 2,584.55 million by 2032.

The major market drivers are a rapid surge in digitalisation and a rise in the popularity of cryptocurrencies as a digital payment method.

The key trends of the market include growth in the diversification of cryptocurrencies, the growing popularity of two-way crypto ATMs, and the increasing convenience of purchasing cryptocurrencies in several traditional ATMs.

The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Various coin types are Bitcoin, Dogecoin, Ethereum, and Litecoin.

The major players in the market are Genesis Coin Inc., GENERAL BYTES s.r.o., Byte Federal, Inc., AtmMachines.com, LLC, Lamassu Industries AG, Bitaccess Inc., Cambio Finance, CoinSolution, and ATM OPS LLC., among others.

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