A North American maker of cryptocurrency ATMs sees the market grow to nearly $ 4 billion in less than nine years.

“The crypto ATM industry continues to grow at a rapid rate, with estimates that the market will reach $ 3.55 billion by 2030,” Brandon Mintz, President and CEO of Bitcoin deposit, said in a Press release.

“We are certainly seeing this use and the continued growth of our business, with significant expansion throughout 2021.”

General interest

In 2021, the cryptocurrency market has captured the interest of the general public and has seen demand skyrocket from consumers and retailers. The number of ATMs around the world grew 155% and more than doubled in the United States to 27,000, Bitcoin Depot said.

“If anything, 2021 has shown us that bitcoin is not a short-lived trend but something that’s here to stay,” Mintz said.

Founded in 2016, Bitcoin Depot operates a network of over 6,500 crypto ATMs in the United States and Canada, allowing users to instantly buy bitcoin (BTC), litecoin (LTC) and ether (ETH ). The company is headquartered in Atlanta, Georgia.

Works like a regular ATM

Crypto ATMs work like a regular ATM, and depending on the machine, you may need to scan a QR code with the address where you need to deposit your cryptocurrency. They can also be used to buy cryptocurrencies.

The company predicts that bitcoin adoption rates will continue to rise and become even more mainstream as an accepted asset class in 2022.

Earlier this year, Bitcoin Depot signed a partnership with convenience store chain Circle K, and the company expects crypto ATMs to continue to grow in retail environments, such as restaurants. and bars, thus diversifying the cryptocurrency clientele.

Main access points

“Retailers are becoming major gateways and advocates for cryptocurrency by hosting Bitcoin Depot ATMs. This creates a larger network of access points. It might sound drastic now, but think of a world where you can buy and sell real property using cryptocurrency. That’s the projection for the future, ”added Mintz of Bitcoin Depot.

Bitcoin traded below the $ 50,000 level for most of December.

Read more: Bitcoin (BTC) tests $ 50,000

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