If you’re looking to buy bitcoins without using a bank, a crypto ATM may be the right solution. While some machines offer only BTC for purchase, others can purchase ETH, ZEC, and LTC. When you buy Bitcoins using a crypto ATM, you can scan a QR code on your mobile device and then insert the card into the machine. After the transaction is complete, you can print a receipt and your coins will be added to your wallet.
Though the market for crypto ATMs is currently largely dominated by North America and Europe, there are also growing markets in Latin America, crypto ATM Middle East, and Africa. The Asia-Pacific region is projected to account for a large share of the market over the next several years, thanks to the growing popularity of digital currencies in that region. Although these emerging markets have been slow to adopt the technology, they are set to become one of the largest markets for crypto ATMs in the coming years.
A new report by Global Market Insights shows that the Crypto ATM market will grow to USD 4.5 billion by 2028. The report provides a detailed analysis of the crypto ATM market, including the drivers and restraints. It also provides a Porter’s five-forces analysis, which analyzes the impact of different factors on the market. This report is based on primary research, and therefore includes observations and interviews with industry players.
One prominent company that provides crypto ATM services is Bit Base S.L., a subsidiary of Bitaccess Inc. and Bitcoin Depot. Other notable companies include Byte Federal, Inc., Coincloud, CoinFlip, Coinme, and Coinsource. Besides Bitbase, there are other prominent crypto ATM companies. Coinbase, Genesis Coin Inc., and Lamassu Industries AG are also involved. National Bitcoin ATM, Orderbob, and RockitCoin are some of the other companies that have a presence in the market.
Crypto ATMs have many advantages in the real world. First, you don’t need to be tech-savvy to use them. Then, you won’t have to worry about complicated trading platforms or Blockchain. You can also eliminate the need to exchange currencies when using a crypto ATM. Imagine being able to access your bank account from any country without any hassle. The same holds true for travelers. A crypto ATM is convenient, fast, and secure.
A tighter regulatory regime may restrict the number of crypto ATMs in a state. Although New York is a hub for traditional finance, it’s also the capital of financial regulation. As the first BTM, Coinsource was licensed in New York in December 2018. Similarly, Florida and Wyoming have laxer regulations for BTMs. As a result, they may not be a good fit for your local community. You can check with the Borg and learn more about the laws that apply to crypto ATMs.
The cryptocurrency ATM market is expected to grow rapidly over the next five years. According to market research, the industry is set to be worth nearly half a billion dollars by 2027. This growth will be fueled by the growing number of investors. Most investors are interested in investing in crypto ATM startups because they offer higher returns and profits than traditional investment strategies. The Las Vegas-based Robocoin and the Vancouver-based Bitcoiniacs are just two of the companies that have generated trillions of dollars in investments.