Bitcoin Forum

Global Bitcoin ATM Market to be Worth $145 Million by 2023: Report
As cryptocurrency awareness and adoption grows, the bitcoin ATM market is forecast to expand at a CAGR of over 50% in a five-year period.

This is according to a study conducted by business-to-business research firm MarketsandMarkets indicating that the cryptocurrency ATM market will grow at a compound annual growth rate of 54.7% between 2018 and 2023. Consequently, the value of this market will rise to a figure of $144.5 million in the five-year period.

At the moment, the number of bitcoin ATMs in the world is 3,650, up from a figure of 3,500 that CCN reported early last month. On a daily basis, an average of approximately four bitcoin ATMs are installed, according to cryptocurrency ATM tracking website, Coin ATM Radar. It is estimated that the cryptocurrency ATM market was worth $6.8 million last year but has since then grown to reach a figure of $16.3 million in 2018.

Buy-and-Sell ATMs
The study also determined that two-way ATMs, which allow users to both buy and sell cryptocurrencies from a single device, will enjoy a higher CAGR compared to one-way ATMs. However, one-way ATMs currently dominate the market at 62.49% against a percentage of 37.51% for two-way ATMs.

Regarding hardware, the display segment of the bitcoin ATM market is expected to emerge as the more popular one over time, according to the study. At the moment, other segments include QR Scanner and ATM Printer types. The user-friendliness of the display hardware will be largely responsible for the popularity. Additionally, for those looking to set up bitcoin ATMs, the display hardware comes with the added benefit of bringing cost savings since there is no need for keyboards and other extra hardware.
https://www.ccn.com/global-bitcoin-atm-market-to-be-worth-145-million-by-2023-report/

I definitely like bitcoin ATMs because of the anonymity factor(unless the ATM has a camera in it, or requires an ID). If only the price cuts weren't gigantic though. The maximum price cut I'm personally willing to pay would probably be at 5%.

"Currently,  bitcoin ATMs charge an average transaction fee of 8.93 percent"
Source: https://www.cbsnews.com/news/wait-i-can-get-bitcoin-at-that-atm/

I don't know about that, but where I'm from, Bitcoin ATMs are said to be around 15%. That's too much.

It's not surprising at all when you look at the level of acceptance it's getting despite negative publicity. The market will keep welcoming new entrants and as it grows, efforts will be made to solve perceived problems like depositing and withdrawal in fiat which is what the ATM will solve

Currentl;y the ATMs are in very few countries and at very few spots. But it will play an important part if it grows as you mentioned in your main post. :)

very good increase and I consider this news quite positive for the development and adoption of bitcoin

It is because of the bitcoin fluctuate change that might be changed a lot of dollars in that year so no doubt if the ATM worth that much.

I am not surprised by the new though. As Bitcoin gain more attention, more people get involved and thus the prices of the ATM will definitely shoot up as well with an understanding that Bitcoin price with respects to Dollar will also increase.

i am always curious to why people bother using ATMs to buy and sell bitcoin. is it really the anonymity of them that attracts them?
if this is the case then the high fees they charge may be justifiable. but at the same time why would the government allow ATMs to grow like this if they are truly anonymous and safe ways of going in and out of bitcoin?!

- The increasing popularity of Bitcoin will lead to regulations in many countries. This regulation will weaken the importance of these machines "Buy/sell bitcoin anonymously."
- The increase of bitcoin traders will enable to find secure means to buy and sell "it is easier to get the Bitcoin compared to the past."

Based on the above, bitcoin ATM in its current form will not have a place in the future unless with continuous updates that may bring more benefits than other methods.

There are some discussions here[1], I hope you find it useful.


[1] https://bitcointalk.org/index.php?topic=4983729.0

It depends on the user. Some people uses bitcoin ATMs for convenience sake, and some are interested in ATMs because of the anonymity factor. Personal preference.

Not all ATMs are anonymous. Like I said, I've read that some bitcoin ATMs has a video cam in it, and some requires identification(probably a government ID, passport, or etc)

Thanks for the heads up.

this is very positive news for our market, is not it? ordinary people can easily buy bitcoin right under your house

Do you mean under in your house? Then no. Unless you have a personal bitcoin ATM in your own house. LOL

https://upload.wikimedia.org/wikipedia/commons/c/c0/CoinFlip%C2%AE_Cryptocurrency_ATM_in_Peoria%2C_Illinois.jpg

This is good news

Wonderful, this is a great news,this indicates that the bitcoin market is growing tremendously.However,focus should be directed to African market,its an untapped business environment.

This is as indicated by an examination led by business-to-business investigate firm Markets and Markets demonstrating that the cryptographic money ATM market will develop at a compound yearly development rate of 54.7% somewhere in the range of 2018 and 2023.

Right now, the quantity of bitcoin ATMs on the planet is 3,650, up from a figure of 3,500 that CCN revealed nearly a month ago. Once a day, a normal of around four bitcoin ATMs are introduced, as indicated by digital currency ATM following site, Coin ATM Radar.

I hope we will finaly see some more Bitcoin ATM's in Europe. It's finally time for them to appear at least in bigger cities because more and more people are searching for places to exchange their coins localy.

Over the globe, the biggest market for digital money ATMs by 2023 will keep on being North America. This will be a support of the norm, as presently, North America has 73.07% of the bitcoin ATMs on the planet, with the United States being the reasonable pioneer.

It will be great if ATM increased. This will create good faith in people minds who don't believe in bitcoin and also it usage will increase.

it is a very good news, it definitely spreading positive vibes over the market but yes it is a unpredictable place so don't get over confident about anyt6this can be switched any moments, so stay positive but in a Consious way of course

That is the thing we should have to consider and I am pretty sure that the planned atm will be using the KYC policy. Tho I am not sure if how will they sustain the Bitcoin stacks for all the bitcoin atm chain.

15% charge is just hilarious considering the other charges for the transaction between your wallet and the machine.

The forecast is well predicted, but I think it will be more than that as we get a massive mass adoption. Should the countries currently critical of bitcoin give a soft spot for it, then the numbers of bitcoin ATM will spike sporadically.

it is positive for the development and adoption of bitcoin. it will be doing something good in future. it will play an important role and its also indicate that bitcoin grow up.

I had the possibility to use one of those ATM's and besides them being quite expensive when talking about transaction fee they are a great solution for many to quiclky withdraw cash whenever you need it.

Bitcoin's popularity is going higher day by day and thus Bitcoin will reign throughout the world. Bitcoin is using this ATM machine for business development and security. Which makes it much easier than the past.

What do you mean by buy and sell ATM's? It is not easy to own one though. And it will undergo a lot of procedure for you to have that ATM. It is not easy for you to do that. Goodluck to that lol.

Everyone is looking at the upside of this, but what will happen if normal ATM's adapt their software to allow people to buy/sell

bitcoins from their ATMs? This will render Bitcoin ATM's obsolete and pseudo anonymity would be totally destroyed. A clever

ATM manufacturer will adapt their ATM software to serve both Fiat and Bitcoin on the same ATM.  ::)  Just thinking out loud.

it is very good news. it's focus that bitcoin are grow up. i think  bitcoin fluctuate change that might be changed a lot of dollars in that year so here is no doubt if the ATM worth that much.

Bitcoin ATM now providing additional security to the traders and makes their transition and other issues easier. In a very short time it is hoping to expand in the whole world.

i think bitcoin fluctuate change that might be changed a lot of dollars in that year. so here is no doubt if the ATM worth that much. it is positive for the development and adoption of bitcoin.

This change might be because of the fluctuations of the price of BTC that has caused such a change in the dollar's value. But all in all, it's good to see the ATM are being installed.

This might be a surprising thing because we know how popular BTC is globally and for to have this much amount of ATM worth is normal to witness.

These atm machines can charge whatever they like because they know the users will pay it. That is the price for an anonymous transaction and is easier than paying for something in monero which needs to be converted into bitcoin anyway.

This is not something of a shock to be honest. Since BTC is becoming more and more popular, it seems obvious that it will reach such an amount in no time.

Do people actually use these? Most people from the community say they don't except maybe to test them or something. So who does? Lol I mean, they have to be profitable to continue operating. So the high markup basically offsets the low volume?

But yeah, I can't complain. If nothing else, they're good publicity. Definitely useful if you want to start out without going through exchanges' KYC/AML processes that could take weeks.

Seeing the popularity of BTC, this sort of amount seems evident. In fact it is a good thing that we are seeing that ATMs are being installed and that it is getting popularity.

Though I haven't used one yet but I have heard of Bitcoin ATMs and how they are able to provide the true sense of decentralization for a higher fee. However, if the forecast is related with adoption of cryptos then I think along with adoption people will move on to better and cheaper transaction systems, compared to that ATMs are too expensive.

Though the news focuses on the positive side of the crypto adoption in the future but they are ignoring the fact that people are still not sure about that these ATMs can truly keep them anonymous. So, gaining trust of the users is a prerequisite before BTC ATMs aim to grow larger in future.

The number of ATMs is growing, which means that the demand for crypto-currencies will also grow.

People invest millions of dollars so that the crypto community can easily buy or sell bitcoin.

It is quite a surprise that when people here are concerned about the market dip, there is growing adoption of cryptocurrency on a daily basis. It will therefore not be surprised too that ATM market hits that volume in 2013.

Bitcoin's popularity is increasing at a growing rate. Increasing the popularity of ATM machines and making Bitcoin and other things easier. Hopefully the future will expand further with Bitcoin ATM.

That is a good news. The more ATM for Bitcoin the better. It will encourage more investors and even the community to use Bitcoin on a daily basis. I just hope that the retailer could also use bitcoin as a means of payment all over the world.

So, high marks basically offset low volume? If nothing else, they are good publicity. Everyone looks at this, but what happens if the ATM normally modifies their software to allow people to buy / sell? This will make Bitcoin ATM backward and fake will be completely destroyed. The ATM manufacturer will adjust their ATM software to serve both Fiat and Bitcoin on the same ATM.