Crypto ATM Market Size, Share, Growth Analysis, By Offering(Hardware and Software), By Type(One Way and Two Way), By Coin(Bitcoin (BTC), Litecoin, Ethereum (ETH), Dogecoin), By Region - Industry Forecast 2024-2031

Crypto ATM Market Driver

• Several businesses are attempting to offer cryptocurrency ATM services to their consumers as part of their efforts to digitalize their offerings while improving customer experiences. For instance, in October 2021, Walmart announced a collaboration with Coinstar, a coin-cashing machine firm, and Coinme, a cryptocurrency exchange provider. Walmart intends to put 200 bitcoin ATMs in its stores across the United States as part of the collaboration.
• The COVID-19 pandemic is predicted to have a significant impact on market growth. During the COVID-19 pandemic, consumers began to invest in cryptocurrencies more frequently due to lower access fees and convenience of use. According to the U.S. Consumer Crypto Survey, 48% of Americans purchased cryptocurrency in the first half of 2021.

Crypto ATM Market Restraint

• The limited adoption of cryptocurrencies as legal tender is a major constraint to the Crypto ATM market. Due to their decentralised nature, volatility, perceived danger to established monetary systems, and linkages to criminal activities such as drug trafficking and money laundering, several countries have refused considering cryptocurrencies to be legal tender. Some countries have explicitly banned digital currency, while others have attempted to cut off any support from the banking and financial systems that is necessary for its trade and use. Bitcoin is effectively prohibited in a number of nations, including China, Russia, Colombia, Algeria, and Egypt. Transacting or dealing in Bitcoin is forbidden for all banks and other financial entities, such as payment processors. Furthermore, cryptocurrency exchanges are prohibited by numerous country governments, which complicates matters even more.