Crypto-ATM Market Size Grows to $75.01M in 2021 Analysts at Grand View Research expectthat in the period from 2022 to 2028 the compound annual growth rate (CAGR) of the sector will be 59.2% – its estimate will reach $1.88 billion.
According to Coin ATM Radar, at the time of writing, there are almost 35,000 bitcoin ATMs installed worldwide. In January 2021, the number was estimated at 14,000 — since then, an average of 24 new devices have been installed every day. At the same time, more than 45% of these ATMs are produced by Genesis Coin.
Among the factors contributing to the growth of the market, analysts at Grand View Research named the efforts of governments in countries like El Salvador and the growing penetration of smartphones around the world. They stressed that the COVID-19 pandemic played an important role in the development of the industry.
The company also noted the efforts of industry players aimed at ensuring security. For example, crypto-ATM implements face recognition systems and QR codes to identify users.
Recall that in November 2021, Bitcoin Latinum signed a three-year contract with the OSO crypto ATM provider to host 100,000 devices in the United States.