Crypto ATM market to hit $2.6b by 2032, survey shows

The global crypto ATM market, which was worth $87.35 million in 2023, is expected to grow at an average annual rate of 45.7% and reach $2.58 billion by 2032.

According to the latest research report from Research and Markets, the global crypto ATM market, valued at $87.35 million in 2023, is expected to reach $2.58 billion by 2032 with the increasing adoption of Bitcoin (BTC).

The growth of the market is attributed to the increasing global acceptance of cryptocurrencies, and analysts say regulators are “implementing positive regulations to encourage them.” [cryptocurrencies] adoption.”

“Additionally, increasing collaboration between crypto ATM providers and financial institutions further fuels market growth as it ensures compliance and security of crypto ATM transactions.”

Research and Markets

The report notes that the use of crypto ATMs is expanding across a variety of industries, including retail, travel, and financial services, and that many malls, convenience stores, and gas stations have installed crypto ATMs that “provide consumers with a simple way to purchase cryptocurrency.”

In line with this trend, US-based crypto ATM provider CoinFlip recently expanded into Mexico as part of its global growth strategy. The company also operates in countries such as Australia, New Zealand, South Africa, Italy, Panama and Brazil, and its largest market is the United States.

However, some countries are cautious about the proliferation of crypto ATMs. In late 2023, the UK Financial Conduct Authority carried out checks on “numerous premises in East London” suspected of operating illegal crypto ATMs. A year later, the FCA charged a London man for operating several crypto ATMs in London, which processed $3.4 million in transactions between December 2021 and September 2023.