Crypto ATM markets to reach $400 million in less than five years
The cryptocurrency ATM market is projected to reach $400 million in less than five years. The market for ATMs that accept cryptocurrencies is now estimated to be worth $46.45 million.
The compound annual growth rate will increase by 59 per cent by 2027 to reach $472.18 million.
These high figures are explained by increasing remittances and financial transfers from developing nations embracing cryptocurrencies globally, as well as by shifting monetary policies and a rise in the number of crypto ATM installations.
With the growing adoption of cryptocurrencies, developing nations also have opportunities for expansion.
However, the cryptocurrency market has been relatively sluggish for a while now, and one could say it is going through a catastrophic phase.
Naturally, when cryptocurrency investors observe the two trends side-by-side, they wonder whether and, if so, to what degree the expanding crypto ATM business can support the faltering crypto market.
For investors in this crypto market, the dynamics in play are different micro- and macroeconomic aspects. The variables that support such a growth rate involve price, demand, supply, and human emotions.
The extent to which the crypto ATM market will continue to fine-tune itself and be robust enough to save the flagging crypto market, it is necessary to examine several factors.
Some of these include rising remittances and cash transfers in developing nations, shifting monetary policies, and a significant rise in the number of crypto ATM installations worldwide.
The developing nations will be crucial to the process because they hold great promise for the crypto market.
The US has been a leader in installing cryptocurrency ATMs, followed by Canada. But there is still much room for exploration in the cryptocurrency domain, both in industrialised and developing nations.
The regulatory framework is another aspect that often impedes the development of the cryptocurrency market.
Unpredictable regulatory environments and a lack of knowledge of cryptocurrencies have negatively impacted the crypto space. Until considerable development in this area, the perceived rescue act will face severe obstacles.