Crypto Automated Teller Machine Market Projected For Healthy Growth Rate During The Forecast Period

Global Crypto Automated Teller Machine Market – Introduction

Crypto automated teller machine (ATM) are kiosks that enable a user to exchange their crypto-currency for cash. Users can easily withdraw currencies such as EUR or USD from their respective bank account or debit/credit card through a crypto automated teller machine (ATMs).
Crypto ATMs work like a stationary exchange where a user can incognito exchange selected crypto-currencies such as Bitcoin. Crypto automated teller machines are categorized into two types: one way (user can only buy crypto-currencies), and two way (also offers the option to buy and sell crypto-currencies directly).

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Increasing government initiatives for adoption of crypto-currency driving the global crypto automated teller machine market

Growing adoption of crypto-currencies have compelled numerous governments specifically in the developed region to implement it in various public services. In July 2017, South African Reserve Bank (SARB) announced plans to test various crypto-currencies including Bitcoin and set up a regulating framework pertaining to it with the help of Bankymoon, a Sandton, and South Africa based blockchain solutions provider. Bankymoon partners with SARB and conducts numerous seminars and workshops about crypto-currencies and its use cases for South Africans. Similarly, in August 2017, Canadian Securities Administrators (CSA) under the Canadian government published a notice on crypto currency offerings, including crypto-currency exchange trading, crypto-currency investment funds, initial token offerings (ITOs), and initial coin offerings (ICOs).
In emerging nations, adoption of crypto-currencies is significant due to various positive government efforts and initiatives. In 2017, the Bermuda government initiated a task force to develop and enhance the country as a destination for crypto-currencies & coin offerings, tokenized securities, and utility tokens. Therefore, increasing government initiatives to drive the adoption of crypto-currency is significantly enhancing the growth of the crypto automated teller machine market.

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