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: Crypto ATM Market Size, 2023-2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
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.
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.
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.
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.
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)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
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 (%)
Source: 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.
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.
Cash Cloud Inc
Coinsource
GENERAL BYTES s.r.o.
Genesis Coin Inc.
Kurant GmbH
Lamassu Industries AG
RockitCoin
April 2022- A new feature has been added to BATMTwoUltra by General Bytesatm, which enables the ATM to be set up for both cash-to-crypto and crypto-to-cash transactions.
March 2022- Bitcovault announced its partnership with SECURECASH, allowing Bitcoin Operators to have unlimited Cash to Crypto Services anywhere in the world.
In September 2021, Bitcoin Depot announced that it had just achieved a new milestone as it now operates over five thousand ATMs of Bitcoin across the United States and Canada. Since then, the company has more than tripled its kiosk count due to the high demand for fast and secure bitcoin transactions by communities in North America, excluding Canada.
In September 2023, New Zealand saw the official entry of Olliv driven by cryptocurrency, which is a leading fintech enterprise in this field as the first operator of Bitcoin ATM in this country. Being popular because of its network that consists of 4.5K ATMs, it intends to make a move towards Aotearoa during all twelve months of next year, just like it was doing throughout the year before, so as to help people rise themselves globally via integrating them into digital financial markets on Earth.
In August 2023, Byte Federal Inc., a company that runs a network of Bitcoin ATMs internationally, launched in Australia. The firm seeks to make sure that consumers get the easy yet safe and user-friendly environment they need when making their initial steps into such new technologies as cryptocurrencies or blockchain.
In January 2023, Genesis Coin Inc., an operator of Bitcoin automated teller machines (ATMs), was bought out by Bitstop founders, who are creators of software for crypto ATMs. Established back in 2013, Genesis Coin makes software used in nearly one-third (35%) of global BTM transactions. The combined force behind these multiple entities assures more than $14 billion annual sales volume via over seventy-five operators and twelve thousand Bitcoin machines positioned throughout the United States and overseas markets.
In May 2022, Coinsource, one of the biggest ATM providers for Bitcoin in the US, announced a partnership with Kwik Trip to install 800 BTC ATMs all over Illinois, Minnesota, Wisconsin, and Iowa. Coinsource has an 11% fee policy across its entire ATM network, which includes accurate prices for bitcoin and any mining fees associated with executing a transaction. In addition to that, a reward program is available to registered members who can enjoy additional discounts at selected participating stores
Hardware
Software
One way
Two way
Bitcoin (BTC)
Litecoin
Ethereum (ETH)
Dogecoin
Bitcoin Cash
Dash
Tether (USDT)
US
Canada
Germany
France
UK
Italy
Spain
Rest of Europe
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
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.
Team Lead - Research she holds an experience of about 6+ years in market research and business consulting, working under the spectrum of information communication technology, telecommunications and semiconductor domains. aarti conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. her expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc.
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