The average annual growth rate of cryptomate will amount to 54.7% of the
According to a report by research firm ResearchandMarkets, the market of cryptocurrency ATMs in the next 5 years will grow nearly tenfold.
As mentioned in this 94-page report, the average annual growth rate of cryptomate amount of 54.7%. Thus, it will increase from 16.3 million dollars in 2018 to 144.5 million dollars in 2023.
“Factors that contribute to the growth of the market cryptomate are increasing the number of cash transactions in developing countries, rapidly changing monetary regulation and installation of new cryptomate in restaurants, bars, supermarkets and gas stations,” the report says ResearchandMarkets.
Analysts also noted the growing demand for bi-directional ATM allowing you to both buy and sell the cryptocurrency. According to ResearchandMarkets, the growing popularity of these machines due to their versatility.
According to Coin ATM Radar, at the moment, the market is dominated by “unidirectional” ATM, allowing only to buy cryptocurrency – they account for 62.5% of all cryptomate. In addition, most of cryptomate located in United States.
ResearchandMarkets believes that the North American region will retain its leading position due to the favourable investment environment and increased spread of cryptocurrency, and due to the large number of employees in the U.S. and Canada suppliers of equipment and software for cryptomate. However, the scope of cryptomate growing in other countries such as Japan and Germany.
Analysts also noted a number of factors that can hinder the growth of the market cryptomate in some regions: “the Uncertain legal status of cryptocurrencies, as well as lack of awareness and technical understanding of cryptocurrencies affect manufacturers and operators of cryptomatic, limiting the growth of this market. In addition, another challenge for the market players may be concerned about security and privacy”.
The report says nothing about the problems related to security, but in the dark web recently there was an announcement about the sale of hacking software for bitcoin ATM for 25 thousand dollars, included the one that comes with a payment card. This was in August, said a firm Trend Micro, dealing with issues of cybersecurity.
Recall, a resident of the Netherlands Dian van Heijningen put up for sale the house while in payment he is ready to accept tokens VeChain (VET).The cost of homeownership was estimated at 31.5 million VET that at the moment is about 505 thousand dollars.
As we wrote earlier, in the Netherlands will be “village of the future” on the blockchain.