DailyCoin
Published Jan 17, 2022 10:30AM ET
Updated Jan 17, 2022 11:00AM ET
Crypto ATM Market Size Worth $1.88 Billion By 2028 | CAGR: 59.2%: Grand View Research, Inc.
The global crypto ATM market size is expected to reach USD 1.88 billion by 2028, expanding at a CAGR of 59.2% from 2022 to 2028, according to a new report by Grand View Research, Inc. The growth of the market can be attributed to the consistent increase in the number of new cryptocurrency users and the subsequent need for crypto ATMs to convert cryptocurrency into fiat money. According to the statistics provided by TripleA, a cryptocurrency payment company, there were about 300 million crypto owners worldwide as of 2021.
Key Insights & Findings from the report:
Several retailers are trying to provide crypto ATM services to their customers as part of the efforts to digitalize their offerings while enhancing customer experiences. For instance, in October 2021, Walmart (NYSE:WMT) announced a partnership with coin cashing machine company Coinstar and crypto-cash exchange provider Coinme. The partnership envisages Walmart installing 200 bitcoin ATMs in its store across the U.S.
The outbreak of the COVID-19 pandemic is expected to play a decisive role in driving the growth of the market. Lower access fees and ease of access encouraged people to increasingly invest in cryptocurrencies during the COVID-19 pandemic. According to the U.S. Consumer Crypto Survey, 48% of Americans bought cryptocurrencies in H1/ 2021.
Market Segmentation:
Grand View Research has segmented the global crypto ATM market based on type, offering, coin type, application, and region:
EMAIL NEWSLETTER
Join to get the flipside of crypto
Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.
[contact-form-7] You can always unsubscribe with just 1 click.
Continue reading on DailyCoin
Written By: DailyCoin
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.