Crypto ATM Market SWOT Analysis & ReviewPosted by Animesh Rao on June 29th, 2022 A cryptocurrency is a form of money that differs from real cash. Customers pay for goods and services directly to the person intending to sell them to without the need for a middleman normally provided by credit cards or checks. Cryptocurrency ATMs are automated terminals sponsored by Bitcoin exchanges, which allow customers to buy and sell private digital cryptocurrency using fiat currency (paper money) issued or backed by a government. Crypto ATMs provide a way for users to exchange their funds for cryptocurrency without worrying about dealing with long and complex public addresses, or even the need to set up an account. The crypto ATM market is growing steadily with more crypto-adopters from around the world. This can be linked to the rapid rise of younger generations who have adopted cryptocurrencies as a legal tender in Japan and South Korea but do not have many avenues where they can spend. Even so, despite these positive signs, crypto ATMs are still a relatively new concept and face several shortcomings when compared to traditional ATMs – due to the complexity of their operation as well as issues such as ‘stigma’, which primarily affects initial adoption rates. During the global COVID-19 pandemic, more and more consumers invested in cryptocurrencies, as they offered one of their only forms of protection from the viral outbreak. In addition, before the outbreak, the growth of cryptocurrencies had been slow but during the pandemic, there was a significant increase in consumer investment into Bitcoin, Ethereum, and Dogecoin. This sudden influx of investments eventually became one of the main growth factors for crypto ATM manufacturers who found themselves shipping thousands upon thousands of ATMs to governments start-ups and banks. Based on region, the global Crypto ATM market has been segmented into North America, Europe, Asia-Pacific, and Rest of the World. Led by major players such as Coin Cloud, CoinFlip, and Bitcoin Depot North America dominates the market for crypto ATMs in 2022. These companies have made several cryptocurrency transactions through ATMs and are currently responsible for the deployment of ATM terminals around the world. For example, in November its subsidiary Bitcoin Depot announced the installation of a new ATM in front of a 7/11 convenience store near Miami International Airport in Florida. The purpose is to serve passengers looking to instantly convert cash into digital currency while waiting for flights at the airport or transferring to other airports via nearby ports. The Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period. Continued installation of two-way crypto ATMs across Asia Pacific countries such as the Philippines is expected to drive the growth of the regional market during the forecast period. The continued proliferation of smartphones and the unexpected rollout of 5G technology are also expected to create opportunities for the growth of the regional market. Organizations in the Asia Pacific are widely adopting crypto ATMs for streamlining operations and enhancing customer experiences by offering them a convenient way to utilize their cryptocurrency for making payments, transferring funds and receiving support from ATM operators, and getting access to basic banking services from local banks who have partnered with Crypto ATM manufacturer companies. The crypto ATM market is expected to witness significant growth in the European region owing to the increasing adoption of cryptocurrency as a medium of investment and trading in this region across various industry verticals such as financial services, retail, travel, hospitality, and consumer goods, and food & beverage. The key regions considered in the European region include Germany, U.K., France, Spain, Italy, and the Rest of Europe. The market in the rest of the world includes South America, Africa, and the Middle East. The region is continuing to grow at a steady pace during the forecast period. South America holds a significant share in the region. The region includes countries such as Brazil, Argentina, Colombia, and Bolivia. The region has been steadily growing with the introduction of cryptocurrency in the financial sector. However, the regulatory authorities of these countries are discouraging cryptocurrency investors, which is slowing the growth of the market. Crypto ATM Market
Get Complete Report Details @ https://www.marketresearchfuture.com/reports/crypto-atm-market-10850 TABLE OF CONTENTS 1. EXECUTIVE SUMMARY 2. MARKET INTRODUCTION 2.1. Market Definition 2.2. Scope Of The Study 2.2.1. Research Objectives 2.2.2. Assumptions & Limitations 2.3. Market Structure 3. MARKET RESEARCH METHODOLOGY 3.1. Research Process 3.2. Secondary Research 3.3. Primary Research 3.4. Forecast Model 4. MARKET FACTOR ANALYSIS Continued… 5. MARKET DYNAMICS Continued… Like it? Share it! More by this author |