Bitcoin ATM Market Size Will Reach $145 Million

Bitcoin ATM Market Size Will Reach $145 Million

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Answer Bitcoin ATM Market Size Will Reach $145 Million

With the growing awareness of cryptocurrency and bitcoin, the bitcoin ATM market is expected to expand at a compound annual rate of more than 50 percent over a five-year period.

This comes according to a study conducted by the research firm MarketsandMarkets, which indicated that the Bitcoin ATM market will grow at a compound annual rate of 54.7% between 2018 and 2023. Thus, the value of the Bitcoin ATM market will rise to 144.5 million dollars in the next five years.

Note that at present the number of Bitcoin ATMs has reached 3,650, and 4 new machines are being installed on a daily basis.

It is estimated that the cryptocurrency ATM market was worth $6.8 million in 2017, and the market has continued to grow, reaching $16.3 million during the current year.

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ATMs for buying and selling Bitcoin

As the report specifies, two-way Bitcoin ATMs, which allow users to buy and sell cryptocurrencies from a single device, will have a higher growth rate compared to one-way ATMs, which allow users to use only one transaction (example: an ATM dedicated to selling Bitcoin only). ).

It is expected that new Bitcoin ATMs will appear that have a number of new features such as ease of use and some technical features to facilitate the process of buying and selling Bitcoin through the machines.

Bitcoin ATM Locations

Growth is expected to continue worldwide, with North America continuing to be the largest cryptocurrency ATM market by 2023.

It is worth noting that the North American continent currently holds 1 on 73% of the Bitcoin ATMs in the world, and most of them are concentrated in the United States of America.

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It is expected that the United States of America will continue to dominate the cryptocurrency ATM market due to the presence of a large number of hardware providers and resources for expansion in addition to the presence of the appropriate investment environment.

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