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Bitcoin ATM market will reach $145 million cap


Research company MarketsandMarkets said that by 2023 the market of bitcoin ATMs will grow annually by an average of 54.7% and will reach a capitalization of $ 145 million.

As noted in the press release, currently around 3650 bitcoins ATMs are installed in the world against 3,500 recorded last month. In 2017, the market capitalization of bitcoin ATMs was $ 6.8 million, and today $ 16.3 million.

Among the trends, the company’s specialists noted that the one-sided bitcoin ATM dominating the market with a share of 62.49% of all devices will surrender their positions in favor of bilateral bitcoin ATMs, which allow not only buying but also selling cryptocurrencies.

Their distribution will grow faster than installing one-way devices. At the same time, it is expected that in the future, bitcoin ATMs with a display will become more popular both for users and owners.

North America is still the leader in the number of bitcoins ATMs, where 73% of all ATMs operate, with most of them installed in the US and Canada. According to analysts MarketsandMarkets, over the next five years, this region will retain leadership in the future, while the absolute dominance will remain with the United States.

“The US will dominate the bitcoin ATM market during the period under review, the country’s market will be leading both in terms of the number of devices and the number of companies developing software for bitcoin ATMs. Also, note the best conditions for investment and the absence of legal barriers,” – MarketsandMarkets representatives noted.

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