The "Global Cryptocurrency ATM Market, By Revenue Source (New Installations (One-way and two-way) and Revenue Through Other Sources (Transaction Commissions, Server Utilization, Technical Support, and Other Services), By Cryptocurrency Type (Bitcoin, Litecoin, Dash, Ether, Dogecoin, Other Cryptocurrencies), and By Geography (U.S., Canada, Brazil, Mexico, UK, Austria, Spain, France, Italy, Switzerland, China, Japan, Australia, South Korea, ASEAN countries, GCC, and Israel) – Global Forecast to 2025" is estimated to be valued at US $ 14.0 million in 2017 and expected to witness a CAGR of 45.8% over the forecast period (2017–2025).
Browse over 40 market data tables and 25 figures through 250 pages on "Cryptocurrency ATM Market - Global forecast to 2025”. Cryptocurrency ATM are kiosks or machines that are connected to internet and allow insertion of cash in exchange of cryptocurrencies such as Bitcoins or Litecoins among others. These generate paper receipt which transfers the money to a public key on the blockchain. Proliferation of utilization of these digital assets is expected to be the chief industry growth driver which is expected to fuel demand for deployment of cryptocurrency ATM in the near future. According to analysis, number of new installations in 2017 is estimated to be over double to total number of deployments till 2016, primarily owing to substantial increase of adoption of these digital assets. Prominent factors influencing the user is the increased popularity and highly secured transaction means, anonymity, and decentralized mode of control in the blockchain. Moreover, capability of these machines to provide two-way transaction is expected to fuel growth to the cryptocurrency ATM market in the near future.
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Dissatisfaction of the users regarding large amount of commission or fee in the transaction is expected to be a major factor restraining the market growth. According to Coin ATM Radar, in 2017, average fees of 1034 machines used for buying and 380 machines for selling is around 8.82%. Moreover, cost associated with hardware, legal expenses, location rent, cash collection, and exchange services, and consumer support and some of the factors add to expenses that can demotivate the end user from adopting these solutions.
Key Takeaways of the Cryptocurrency ATM Market: