A research of Allied Market Research claimed that huge surge in the crypto ATMs will take place in the next 9 years. And there is a need of El Salvador like countries.
Allied Market Research did a Investigation on the growth of the crypto ATMs industry and found that huge growth took place over last years and it can surge by a big percentage by next few year.
According to the report of AMR, the growth in Crypto ATMs has been increasing since the last Covid-19 pandemic. And after that it is surging exponentially.
If we look over the total funds of the market of Crypto ATMs then it was around $33.80 million in 2020. And it surged by a big difference this year, which is around $3.55 billion.
We needs El Salvador like countries
Report also claimed that adoption of crypto assets as an investment is not enough, there is a need for other countries which can adopt crypto like El Salvador did.
AMR also voiced for the platforms like BlockFi, which are giving crypto debit cards facilities for their customers. The report believes that in the incoming future, we will see adoption of the crypto ATMs just like traditional payment systems which require KYC verification of the users, as both have the same procedure to give their services to the public. And all revolution will cut down the time between the conversion of crypto in fiat.
Bitcoin ATMs machines
With the crypto ATMs cards, there is a big need for the machines’ deployment in the whole world. And right now 80% of the Bitcoin ATMs exist in the United States at around 26000 locations.
Here we should be thankful of El Salvador’s initiative, which deployed 200 Bitcoin ATMs in El Salvador and other locations in the United States to facilitate the Chivo wallet based Bitcoin transactions better and smoother just like traditional banks.