Crypto ATM Market Size To Reach $5.45 Billion By 2030

Crypto ATM Market Growth & Trends

The global crypto ATM market size is anticipated to reach USD 5.45 billion by 2030, registering a CAGR of 63.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. Several countries, such as Central African Republic and El Salvador, recognize Bitcoin as legal tender, which will contribute to the use of crypto ATMs. The market growth can be attributed to the rising use of cryptocurrencies for making payments at several retail stores.

A rise in the number of prominent retail stores installing crypto ATMs is expected to be a major contributor to market growth. In March 2023, Giant Eagle supermarket’s café arm under GetGo Café + Market announced plans to install online Bitcoin ATMs in more than 125 locations across the U.S. Similarly, prominent chains, such as Circle K, 7-Eleven, and Shell, have ramped up the demand for online Bitcoin ATMs.

Leading cryptocurrencies' popularity and potential growth prospects are expected to bode well for market growth. According to data provided by Coin ATM Radar, an online Bitcoin ATM information provider, globally, nearly 23 Bitcoin ATMs are installed daily. Thus, the growing use of cryptocurrencies, such as Bitcoin and Ethereum, is expected to create growth opportunities for the market.

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Crypto ATM Market Report Highlights

• The one way type segment dominated the market in 2023 due to the rising demand for one-way crypto ATMs for purchasing cryptocurrencies. Several countries have imposed a tax on short-term sales of cryptocurrencies, and the ability to purchase them using cash is a primary driver for the segment's growth

• In terms of offering, the hardware segment dominated the market in 2023. The hardware components of a crypto ATM provide the user interface that allows customers to interact with the machine. Hardware components, such as secure microcontrollers and cryptographic modules, play a critical role in ensuring the security of crypto transactions, which is expected to drive the segment’s growth

• The Bitcoin coin type segment dominated the market in 2023. Bitcoin transcends borders and enables faster international transactions than traditional banking systems, making it appealing for businesses engaged in cross-border trade. Moreover, institutional investors view Bitcoin as a potential hedge against inflation and a store of value, driving its adoption

• The restaurants & other hospitality spaces application segment dominated the market in 2023 owing to the growing deployment of crypto ATMs by various food and entertainment outlets. Crypto ATMs provide customers with additional payment options and cater to tech-oriented customers who prefer using cryptocurrencies for transactions

• North America dominated the global market in 2023. The easy availability of crypto ATMs in the region bodes well for the regional market’s growth. Moreover, the willingness of large-scale businesses to incorporate blockchain and cryptocurrency is expected to drive regional market growth

• In September 2023, WonderFi, a fintech company, announced a strategic partnership with Bitbuy and cryptocurrency ATM provider Localcoin ATM. This partnership aimed to bolster Localcoin's crypto ATM services across Canada by integrating Bitbuy's exchange platform, along with its associated "deep liquidity" benefits

Crypto ATM Market Segmentation

Grand View Research has segmented the global crypto ATM market on the basis of type, offering, coin type, application, and region:

Crypto ATM Type Outlook (Revenue, USD Million, 2017 - 2030)

• One Way

• Two Way

Crypto ATM Offering Outlook (Revenue, USD Million, 2017 - 2030)

• Hardware

• Software

Crypto ATM Coin Type Outlook (Revenue, USD Million, 2017 - 2030)

• Bitcoin

• Dogecoin

• Ethereum

• Litecoin

• Others

Crypto ATM Application Outlook (Revenue, USD Million, 2017 - 2030)

• Commercial Spaces

• Restaurants & Other Hospitality Spaces

• Transportation Hubs

• Standalone Units

• Others

Crypto ATM Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

• Asia Pacific

  • Australia

  • Thailand

  • South Korea

  • Singapore

  • Taiwan

• Latin America

  • Brazil

• Middle East & Africa

  • UAE

  • Kingdom of Saudi Arabia (KSA)

  • South Africa

List of Key Players in Crypto ATM Market

• GENERAL BYTES s.r.o.

• Genesis Coin Inc.

• Lamassu Industries AG

• bitcovault.com

• Bitaccess Inc

• Coinme

• Coinsource

• Bitstop

• Byte Federal, Inc.

• Cryptomat