Cryptocurrency ATMs Market Will Grow 60% by 2030 Despite Market Volatility Over $5B

The size of the global cryptocurrency ATM market  is projected to grow in the coming years, contributing to the mainstream adoption of digital assets. 

 In particular,  new research shows that the market is expected to grow 61.7 times between 2022 and 2030, reaching a value of $5.45 billion, Grand View Research said in a December 7 press release. the  growth  in the use of cryptocurrencies for  retail payments, as well as the conversion of digital assets to fiat currency. 

 "Increasing awareness and adoption of cryptocurrencies by retailers such as Walmart and Circle K will fuel the growth of the crypto vending machine market during the forecast period. andlt;...> In addition, several businesses, including restaurants and commercial establishments, are engaged in installation of crypto ATMs to generate additional revenue which is expected to further boost market growth,” the study said. 

 Pandemic Impact  

 However, researchers have pointed out that the coronavirus pandemic has increased demand for crypto machines as users seek to utilize advanced software to store, buy and sell digital assets. 

 Regionally, North America should lead, followed by Europe and the Asia-Pacific region. Elsewhere in Latin America, the Middle East and Africa are predicted to have the fewest crypto machines. 

 Additionally, in 2021, a study found that  Bitcoin (BTC)-related ATMs were in demand, citing the popularity of the flagging cryptocurrency. In fact, 2021 saw a sustained bull run in Bitcoin's eyes, culminating in the asset's all-time high near $69,000. 
 In addition to Bitcoin, the study found other advantages such as Ethereum (ETH), Dogecoin (DOGE) and Litecoin (LTC). 

 Based on  research findings, the ongoing crypto winter may not have a long-term impact on the industry. As Finbold reported  on September 23,  Bitcoin ATM growth stopped for the first time in 2022. At that time, there were 38,538 crypto ATMs in the world, installed in 77 countries.

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