Although most of my articles are investment related opportunities, it’s also important to recognize that the crypto market is still in the beginning stages. This means that lots of new traders and hodlers are going to wade into the market during the next few years. All of my knowledge, and that of most traders, was learned through trial by fire. And while I’m grateful for the experiences, both good and bad, not everyone wants to learn from that method. Many participants will want clear instructions on how to get started in the crypto market. Mainly, that means how to purchase crypto and how to sell it at a later point.
What is CoinFlip?
Since I considered cryptocurrency to be a rather risky proposition, I wanted to start off with a small investment without having to provide credit card information or bank account details. After doing some research on the internet, I came across an interesting company called CoinFlip. CoinFlip’s goal is to provide the best cash-to-crypto experience possible. The company’s next-generation ATMs are extremely intuitive and easy to use for both purchasing and selling cryptocurrency.
Daniel Polotsky, the founder and CEO of CoinFlip, came up with the idea in 2014 while still a sophomore at Northwestern University. Daniel has worked at some of the top companies in the world including Uber, R.J. O’Brien, Citadel, and Morgan Stanley.
In addition to impressive leadership, all of the company’s employees are under the age of 25 and half of them didn’t finish college. Additionally, all the founders and a majority of the employees are first generation Americans. The company is also entirely self-funded. So, in a way, CoinFlip is kind of like a Blue-Collar Bitcoin Squad. It’s hard not to root for a company like this.
Advantages of CoinFlip
The major advantage of CoinFlip is the simplicity. When I first got involved with crypto, I tried to open an account at a few exchanges and became incredibly frustrated with the long on-boarding process. And then having to provide additional information that I considered sensitive and confidential. So, as I looked for alternatives, CoinFlip ATMs quickly emerged as exactly what I was looking for.
Another huge advantage of using CoinFlip ATMs is the wide selection of cryptocurrencies that are currently available. The available currencies include BTC, LTC, ETH, TRX, KMD, and DASH.
In addition to the wide selection of currencies available and avoiding the hassle of a long on-boarding process, CoinFlip ATMs offer the following advantages:
- Lowest fees of any cryptocurrency ATM (6.99% over spot for buys and 3.99% under spot for sells).
- 24/7 customer service through phone, text, and chat.
- Company values privacy and doesn’t sell or share personal information with any third-parties.
- CoinFlip has significant reach with more than 150 ATM locations across the U.S.
Fast Growing Company
One of the aspects of this business that I like the most is the rapid-fire pace at which the company is expanding. I prefer to invest time and resources into a business that is certain to be around in the future. As mentioned, the company has gone from initial idea to the leading U.S. crypto operator in less than 5 years. Perhaps even more impressive is that CoinFlip has continued to grow and innovate during a time when many other projects are struggling.
How to Begin Using CoinFlip ATMs
For amounts up to $900, only name and phone number registration is necessary. Simply go to the CoinFlip website and look for your nearest ATM. Go to the location (which typically has long hours) and type your name and mobile number which, will then be sent an SMS code for confirmation. ATM users will also need a mobile wallet from which they can sell their existing cryptocurrency or have newly purchased crypto sent to it.
The company has also put together a page for FAQ. These FAQs are extremely useful for new entrants into the crypto market. If new users have additional questions or wish to learn more, they may want to consult the company’s social media such as Facebook, Instagram, and Twitter. I personally find the Twitter extremely useful as the company will occasionally release some discount codes resulting in significant consumer savings.
Even though I now fall into the experienced category of crypto traders, I’m still using CoinFlip due to the simplicity and convenience. As long as the fees remain industry leading and the company continues to innovate, I look forward to doing business with them for years to come.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors. The goal of the platform is to help newcomers shorten their learning curve,…
CoinFlip Scores Big with BRD Wallet Partnership
As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible. While many crypto users are extremely tech oriented, a lot of those on the sidelines are not. The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above. In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country. Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.
In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map. Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells. BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit. The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.
Cryptocurrencies are already making a huge difference around the world. Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…
Can Libra help the crypto industry to reach new heights?
The market for cryptocurrencies started with the launch of Bitcoin in 2009, and since then, so many cryptocurrencies have been launched that it gets hard to keep track of them. The crypto market has seen massive growth in the past 3-4 years as it started gaining attention from mass media, which helped in this boom.
From the past 2-3 years, several new cryptocurrency projects were launching in the market. Amid all this, the social media giant – Facebook announced the launch of their cryptocurrency platform, and this news got viral like wildfire. The announcement came forward in June, and the upcoming cryptocurrency is known as Libra, and it’ll come with its dedicated wallet called Calibra.
What is Libra?
Libra is a permissioned blockchain-based digital currency which is being developed under the supervision of Facebook’s vice president, David A. Marcus. The cryptocurrency is under development in partnership with an independent, non-profit member Libra Association. Facebook is the second member of the project, and these companies aim to use Facebook’s user base for the promotion of the digital currency when it is launched. The transactions and the cryptocurrency will be managed and cryptographically entrusted by the Libra Association.
Note: Libra Association was established by Facebook to look after the cryptocurrency and the transactions, and it was founded in Geneva, Switzerland.
The development of…