CRYPTOCURRENCY ATM MARKET ANALYSIS

Cryptocurrency Atm MarketSize and Trends

Rising ROI Along With the Capability of the Two-Way Transactions are Expected to Fuel the Overall Industry Growth during the Forecast Period

Rapid increase in the number of ATMs every year has forced the ROI to set back, however, it is largely dependent on the location of deployment of the Bitcoin Automated Teller Machines (BTMs). According to Coherent Market Insights, on an average the most populated or urban areas have the highest number of transactions, that help in generating complete ROI within spans of less than a year, even if the number of visitors per day is around 1-2. According to Coherent Market Insights analysis, the average number of new installations are expected to increase past 14 per day by 2025 driving the volume growth at over 44.6% CAGR over the forecast period. Moreover, according to Coin ATM Radar, the total number of deployments reached to around 1730, as of October 27, 2017, due to high ROI and increasing popularity of the digital currencies. Also, Coin ATM Radar estimated 4.43 Bitcoin ATMs installations per day in the last seven days in October 2017.

The global cryptocurrency ATM market is estimated to be valued at US$ 13.99 million in 2017 and is expected to witness a CAGR at 45.8% during the forecast period (2017 – 2025).

Cryptocurrencies are driven by several advantages over the conventional currencies such as the limited supply, growing number of investors, growing user confidence, growing mining complexity, and substantial support by the media. In October 2013, Robocoin machine was introduced as the world’s first publicly available bitcoin machine to improve the transaction ability. The machine witnessed 348 transactions, in its first eight days of installation with an average transaction value of USD 273. In its first installation, the (ROI) reported was less than a month.

Figure 1. Global Cryptocurrency ATM Market, North America Trends

Source: Coherent Market Insights Analysis (2017)