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Cryptocurrency ATM Market could be Worth $145 Million by 2023

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cryptocurrency ATM

At the moment, there are 3,652 cryptocurrency ATM in 74 countries.

That number will grow, as coins gain momentum through adoption.

The Global ATM Market could be Worth $145 Million

By 2023, the global ATM market could be worth as much as $145 million.  That’s according to a study by B2B firm, Markets and Markets. They note the market could grow at a compound annual growth rate of 54.7% over the next five years.

Right now, the largest market for cryptocurrency ATMs by 2023 will continue to be North America, which currently has 73% of the market.  The United States is the leader now.

“The US is expected to continue to dominate the crypto ATM market during the forecast period owing to the presence of a large number of crypto ATM hardware and software providers and favorable investment environment (without any legal barriers),” the report titled “Crypto ATM Market – Global Forecast to 2023” noted. “In 2017, the Government of Mexico declared bitcoin legal. In addition, Canada has recorded extensive start-up activity, especially for cryptocurrency.”

Global Adoption Gaining Momentum

The number of businesses accepting cryptocurrency is growing by leaps and bounds. Intuit, PayPal, Dish Network, and Overstock.com are some of the biggest.  At Microsoft for example, you can buy content in the Windows and Xbox stories.  The company was even behind the launch of Azure Blockchain as a platform that allowed larger-scale businesses to use blockchain to facilitate settlements.

In short, it would appear the crypto boom has only just begun.

 

 

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