By Lee Hansen
Byte Federal
Bitcoin ATMs are on the rise. Most major cities worldwide have been using them for years; they are proliferating beyond major cities, too. And for good reason. Crypto ATMs allow users to buy and sell cryptocurrency, transfer bitcoin to cash and cash to bitcoin, and easily transfer money across the globe. They are user-friendly, safe and offer users who may have otherwise not been interested in cryptocurrency an easy way to check it out.
The bitcoin ATM market is developing rapidly, influenced mainly by the growing number of bitcoin and cryptocurrency users worldwide. As a result, this year these ATMs are expected to show up in more public locations such as gas stations, general stores, major retailers, cafes, and coffee shops. These industries are all aggressively investing in bitcoin ATMs due to the rapidly increasing demand from consumers.
Reports from Coin ATM Radar, a trusted data compilation website for crypto ATMs, have shown astronomical growth in the number of ATMs, almost doubling in less than a year. Currently, over 80 nations have bitcoin ATMs. However, experts predict that number will soar as cryptocurrency becomes more inclusive and as more and more of the population jumps into the cryptocurrency game.
According to statistics gathered by global cryptocurrency payment company TripleA, there were approximately 300 million crypto owners worldwide in 2021, and the trend has continued to rise since then. Eighteen thousand businesses worldwide are now accepting cryptocurrency payment methods. More are emerging daily to stay on top of the trend and in sync with customers’ needs.
The COVID-19 pandemic has also played a significant role in driving the cryptocurrency market. Lowered access fees encouraged many to start investing in cryptocurrency before fees rose.
And with increasing access to crypto ATMs, more users and potential users have felt safe and secure to use them even while COVID-19 numbers soared. Consumers do not have to walk into a bank or be close to many people to have a full crypto ATM experience. According to the U.S. Consumer Crypto Survey, 48 percent of American investors bought cryptocurrency in the first half of 2021.
Emerging markets in the crypto ATM space should understand the vast benefits cryptocurrency users enjoy. They provide ease of trading options, require no account setup and automatically generate receipts containing private and public keys in the form of QR codes—they are safe, secure and easy to use. Thus, demand for crypto ATMs will continue to increase.
Partnerships between traditional ATM providers and crypto ATM providers are beginning to occur in markets worldwide, so it will not be long before crypto ATMs are as easy to find and use as traditional banking ATMs.
Major retailers are also jumping aboard with crypto ATMs. For example, in October of 2021, Walmart formed a partnership with a crypto-cash exchange provider to digitize their offerings and simultaneously complement the overall customer experience.
Crypto ATMs are the future. Crypto ATM providers keep up technologically to roll out more and more options and ensure customers have the very best user experience. Thus far, North America has dominated the global market and is expected to maintain its lead through at least 2028.
Emerging markets need to understand the urgency in the world of crypto ATMs. Because the cryptocurrency game has changed the way millions use money, users will come to expect to find ATMs for use all over the world. Staying in tune with the marketplace of consumers is the most relevant concept for established and emerging markets to understand. 
Lee Hansen is CEO at Byte Federal, www.bytefederal.com, a leading fintech provider of some of the most secure Crypto ATMS, ultimately bringing bitcoins to the masses, through a strong network of thousands of kiosks. The company’s ATMs offer one of the largest daily limits of $21,000, and their ATMs are continuing to evolve into a full-service Bank-in-a Box solution, not only allowing for bitcoin investments, but also gold, gift cards, trading signals—and more. For more information visit www.linkedin.com/in/bytefederal/ or email info@bytefederal.com.
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