Despite the bearish trend shown by the cryptocurrency market throughout the year, it is assumed that the digital asset ATM industry will reach 145 million dollars by the year 2023, with an annual growth rate of up to 54.7% for the next few years, according to a report by ResearchandMarkets.
It is important to note that, at present, the market is over 16.3 million dollars, according to the Coin ATM Radar portal, with around 3,687 units deployed in more than 70 countries.
Likewise, the report indicated that two-way ATMs, that is, those that allow not only to buy, but also to sell cryptocurrencies using fiat currencies; they will grow to an even greater range than those in a single way.
However, the information shows that at present the one-way ATMs are at the forefront of the market, since at least two thirds of the current units would have this modality. In addition, more than 2,000 units would be located in the United States.
In this sense, the researchers pointed out that the United States would maintain its leadership as the largest market for cryptocurrency ATMs, even though countries such as Japan and Germany would also be entering the mass adoption of this technology.
However, the researchers warn that the regulatory uncertainty could negatively affect the growth of this industry in several countries of the world, in addition to the lack of understanding and information about their operation.
Although the report does not address the issue of security, cryptocurrency ATM malwares continue to proliferate and would even be commercialized on the black market for around US $ 25,000.
The Russian authorities also confiscated several cryptocurrency ATMs this week in the middle of an investigation of the company that produces them.
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Topic: Bitcoin ATM industry will grow 54% every year, according to report (Read 796 times)
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