-Crypto ATM growth is being propelled by a number of factors. Chief among them is the large and rapidly growing crypto market.
– Other factors driving growth in crypto ATM include regulatory uncertainty surrounding cryptocurrencies, which is creating an opportunity for providers of these machines to expand into new crypto ATM markets.
– Additionally, the advent of blockchain technology has created opportunities for new applications that can be built using crypto assets.
– As a result, providers of these machines are expanding their operations into new markets in an effort to capitalize on this growing trend.
– Globally, more than 39,000 crypto ATMs are installed and more than 20,000 of them came in 2021 in the global crypto ATM market.
– However, since then, only 5,000 new ATMs are installed in the year 2022 as the cryptocurrency market has undergone a rapid fall, leading to a decrease in the number of crypto ATMs installed around the world.
– The fall in the value of cryptocurrencies is one of the main factors leading to the decrease in the number of crypto ATMs being installed.
– Another potential reason for this decrease in the number of crypto ATMs is due to increased regulatory scrutiny.
– Despite these challenges, there are still a number of crypto ATM operators in the global crypto ATM market who are confident about the long-term prospects for this technology.