Research

An analysis of the crypto ATM market

Quick Take

  • Crypto ATMs experienced their largest net increase in the month of July with 292 installed globally. To date there are 5,353 ATMs across 81 different countries
  • While Bitcoin decreased by about 84% during its last bear cycle, crypto ATM installations didn’t slow down, but rather increased by approximately 108%
  • The higher growth rates of alternate currencies relative to the growth of crypto ATMs shows that as the market for crypto ATMs has matured, it’s increasingly adding support for currencies besides Bitcoin

     

The market for crypto ATMs has been growing steadily. Last month crypto ATMs experienced their largest net increase in a single month with 292 installed globally. To date there are 5,353 ATMs across 81 different countries.

Source: The Block and Coinatmradar

Compared to traditional ATMs that dispense cash, the market is still immature, however manufacturers are taking notice.