Cryptocurrency ATM Market Booming Industry by Major Key Players: Genesis Coin, General Bytes, Lamassu, Bit Access, Covault, BitXatm, BTC facil, Skyhook, and LocalBitcoins

Cryptocurrency ATMs are the easiest means to buy cryptocurrencies, which also support selling of the digital currencies. Owing to their capability to support multiple forms of cryptocurrencies and ability to support any national currencies across the globe, these machines have gained significant traction over the past few years. Prominent growth factor fueling demand is the proliferation of these digital assets or currencies, across the globe and growing acceptance of these decentralized means of transactions. The global cryptocurrency ATM market is estimated to be valued at US$ 13.99 million in 2017 and is expected to witness a CAGR at 45.8% during the forecast period (2017 – 2025).

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High demand for digital currencies is expected to drive the cryptocurrency market growth

Cryptocurrencies are driven by several advantages over the conventional currencies such as the limited supply, growing number of investors, growing user confidence, growing mining complexity, and substantial support by the media. In October 2013, Robocoin machine was introduced as the world’s first publicly available bitcoin machine to improve the transaction ability.
Rising ROI Along With the Capability of the Two-Way Transactions are Expected to Fuel the Overall Industry Growth during the Forecast Period
Rapid increase in the number of ATMs every year has forced the ROI to set back, however, it is largely dependent on the location of deployment of the Bitcoin Automated Teller Machines (BTMs). According to Coherent Market Insights, on an average the most populated or urban areas have the highest number of transactions, that help in generating complete ROI within spans of less than a year, even if the number of visitors per day is around 1-2.
North America dominated the global cryptocurrency ATM market share by volume in 2016 accounting for 73.21% of the global industry in 2016
Due to high concentration of deployments in U.S. and North America, North America has remained the most dominating region in terms of both value and volume over the last few years, is expected to dominate the industry share through the forecast period. North America was followed by Europe, Asia Pacific, Latin America and Africa.

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Top industry participants in the cryptocurrency ATM market in order of their volume share are Genesis Coin, General Bytes, Lamassu, Bit Access, Covault, BitXatm, BTC facil, Skyhook, and LocalBitcoins.

Detailed Segmentation:

• Global Cryptocurrency ATM Market, By Revenue Source:

o New Installations

 One-way ATM
 Two-way ATM

o Revenue through other sources

 Transaction Commissions
 Server utilization
 Technical support & other services (software upgradation, software installation, extra developments/software customization, layout customization)

• Global Cryptocurrency ATM Market, By Cryptocurrency Type:

o Bitcoin
o Litecoin
o Dash
o Ether
o Dogecoin
o Other cryptocurrencies

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This release was published on openPR.