In the next 5 years, the Bitcoin ATM market will grow by over 50%
Constant development is the law of cryptocurrency world. At this time a lot of people are using cryptocurrency. The reason why many companies are offering payment options with cryptos is that using cryptocurrencies easier, quick and convenient process. But this brings up the question of how to cash out bitcoin? Cryptocurrency owners need ATMs to quickly exchange and spend their invested cash when they need to.
According to the last MarketsandMarkets (a research and consulting company), the value of bitcoin ATMs market will rise to $ 145 million by 2023. That is to say that in the next 5 years the market will grow by 54.7%.
How many bitcoin ATMs can we find now? Now around 3,650 bitcoin ATMs are installed in the world. Last month, this number was 3500. This means that every day around 4 cars are installed in different countries, so that their number, and therefore the market, grows exponentially. In 2017, a value of bitcoin ATMs market was $ 6.8 million, and today — $ 16.3 million. Along with the growth of the market, two-way ATMs that allow both buying and selling the Cryptocurrency are beginning to prevail over one-way ones. At the moment, 63% of all installed ATMs are two-way.
What about Geography? Nowadays the leadership in the field of Bitcoin ATMs is reserved by North America. We can find 73% of all cryptocurrency ATMs on the continent, most of them are installed in the USA. According to MarketsandMarkets, this trend will continue for the next five years. Nevertheless, Mexico and Canada are also trying to keep up: in 2017, bitcoin was legalized in Mexico, there is a huge number of cryptocurrency startups in Canada.
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