Global Bitcoin ATM Market to be Worth $145 Million by 2023: Report

[HappyWhiteHuman]

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/

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[mk4]

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.

[Payme21]

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

[Hanablue]

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.

[Masatos]

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

[close up]

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.

[Wingleness]

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.

[BitcoinHodler]

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%.

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?!

[hugeblack]

- 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.

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

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


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

[mk4]

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?

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.

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?!

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)

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


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

Thanks for the heads up.

[transformt]

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

[mk4]

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

[RussCryptoBull]

This is good news

[Maxson]

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.

[Demonster]

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.

[EveningRock]

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.

[Airbuxf]

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.

[Nightingale2]

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.

[ksupriya94]

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.

[CrashLamb]

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