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CoinFlip Continues to Dominate the U.S. Cryptocurrency ATM Market

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Although cryptocurrency has brought in a lot of traders seeking the dream of overnight wealth, cryptocurrency is a lot more than just striking it rich.  Cryptocurrency is about creating a new market with companies that are building cutting edge technology in an effort to continue elevating our way of life.  As the crypto market continues to expand, several companies are involved in creating ways for more people to participate.  One such company that appears to be making all the right moves is CoinFlip.

CoinFlip is the world’s leading cryptocurrency ATM operator that currently allows users to buy and sell 10 different cryptocurrencies including BTC, ETH, LTC, DASH, TRX, KMD, LINK, BNB, XLM, and USDC.  Due to the company’s quick growth, CoinFlip has quickly gained a reputation of being the place to go for all crypto ATM transactions.  In addition to its massive geographic coverage, there are four advantages that CoinFlip currently offers over its competitors:

  • Lowest fees of any cryptocurrency ATM in the world
  • Lightning-fast transactions that are typically completed between 10 and 30 minutes
  • Extremely easy customer verification
  • 24/7 customer support through phone, text, and chat

Given the global pandemic currently facing us, many companies have been struggling just to survive.  CoinFlip, on the other hand, is not only surviving but thriving.  The company has had an exciting few months and has even bigger plans for the future.

Partnership with Monarch Wallet

On May 5th, CoinFlip announced details of its partnership with Monarch Wallet, which will serve to expand access to underserved audiences including the underbanked and unbanked, those in cash-heavy economies, and people who prefer hands-on support for their transactions.  “Wallets and ATMs are naturally synergistic since every user needs to download a wallet before they purchase crypto from us,” said Daniel Polotsky, CEO and Founder of CoinFlip.  “We want users to engage with our machines, buy crypto, and then continue to engage with the crypto world through Monarch Wallet’s many services aiming to educate users about cryptocurrency.”

The partnership will allow Monarch to fully integrate the CoinFlip ATM locator into its app, while CoinFlip will promote Monarch Wallet at each of its ATMs to increase the convenience and efficiency of buying, selling, and storing of crypto.

ATM Growth Surge

As previously mentioned, CoinFlip is the undisputed global leader of crypto ATMs.  Of course, in order to maintain that position and continue to bring in new customers, the company must continue to expand its geographic reach and that’s exactly what CoinFlip is doing.  Just in the month of May, CoinFlip installed over 60 ATMs including some new areas such as Benton, Arizona and Union City, Georgia.  The company now has over 600 active ATMs across the country and intends to meet its goal of 1,000 ATMs by the end of 2020.

CoinFlip plans on releasing its new model ATM, the BATM4, in the coming months.  The model will come with a beautiful 23” touch screen, neon bezel, and sleek form factor.  Additionally, many of these ATMs come with anti-microbial coatings, which work to kill microorganisms and ensure the cleanliness of the ATM machine.  In light of what’s happening around the world, customer safety is the #1 priority for CoinFlip.

Launch of CoinFlip Preferred

When it comes to financial markets, the truth is that there are participants of all levels and backgrounds.  There are traders who are at the beginning stage, the intermediate stage, the advanced stage, and expect level.  Some traders will simply want to dip their toes in the water with a few hundred bucks while those who have been investing for years will likely want to invest a lot more capital.

Fortunately, when it comes to crypto, there are services that cater to both retail customers and expert traders who require the use of over-the-counter services in order to fill large orders at the best prices.  But what about someone who wants the best of both worlds?  That’s where CoinFlip Preferred comes into play.

While traditional OTC services normally require a minimum investment of at least $100,000, CoinFlip Preferred’s minimum is only $5,000.  This is the perfect compromise for traders that want the lowest fees possible along with concierge customer support.  While CoinFlip Preferred is currently only offered to those in the United States, the company does have plans to expand to a global audience in the near future.

Summary

I’ve personally been using CoinFlip since early 2019 and I’m simply blown away by the growth the company has demonstrated since then.  Even in the face of a global pandemic that has brought many companies to the breaking point, CoinFlip continues to dominate which is a sure sign of great things to come.  The company has hired nearly 20 employees during the past few months and plans to continue hiring throughout the rest of the summer.  I look forward to following CoinFlip’s progress over the coming months and years.

Image by Hans Braxmeier from Pixabay

Bitcoin

Bitcoin Price Dumps Below $41,000 Amid Uncertainty

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Bitcoin price dumped hard on Monday, briefly slipping below $41,000, erasing gains recorded in the previous week. The premier cryptocurrency seems to have exhausted its recent rally propelled by industry vulnerabilities. At the time of writing, the world’s largest cryptocurrency was trading slightly lower at $41,385. Bitcoin’s total market cap has dipped by 2% over the past day, while the total volume of BTC tokens traded over the same period climbed by 58%.

Fundamentals

Bitcoin price has been facing retracements and a rollercoaster over the past few days after recently rocketing to a 20-month peak. On-chain data has suggested that many investors used the opportunity to take some profits, leading to a decline in the asset’s price.

Bitcoin’s price slump is mirrored in the wider crypto market, with the global crypto market cap decreasing by 1.85% over the past 24 hours to $1.55 trillion. The total crypto market volume has increased by 32% over the same period. The Crypto Fear and Greed Index has plunged from a level of extreme greed to a greed level of 70, suggesting a decline in risk appetite.

Ethereum, the largest altcoin by market capitalization, is currently trading at $2,167, down almost 3% for the day. Meme coins have been hit hard by the market slump, with Dogecoin and Shiba Inu down by more than 4% over the last day.

Last week on Thursday, cryptocurrency experts took notice of…

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Bitcoin Price is in Consolidation Mode Despite Market Optimism Post-Fed Decision

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Bitcoin price edged lower on Thursday despite optimism in wider markets on the back of the Fed’s interest rate decision. The flagship cryptocurrency has been consolidating above the critical level of $42,000 after briefly topping $44,000, its highest level in 20 months. Bitcoin was trading 0.71% lower at $42,569 at press time. BTC’s total market cap has increased by more than 3% over the last day to $832 billion, while the total volume of the asset traded over the same period jumped by 22%.

Economic Outlook

Bitcoin price has been trading sideways over the past few days, suggesting a pause in its recent rally towards $45,000. The premier cryptocurrency has decreased by 4% in the past week but remains 15.22% higher in the month to date. The digital asset has staged a significant recovery this year after a torrid 2022 in which a string of scandals, including the collapse of FTX, led to a market meltdown, undermining the credibility of the sector.

The crypto market has been buoyed by the Fed’s latest interest rate decision. The US Federal Reserve on Wednesday held its key interest rate unchanged for the third consecutive time, in line with market expectations. With the easing of the inflation rate, members of the Federal Open Market Committee (FOMC) voted to keep the benchmark overnight borrowing rate in a targeted range between 5.25%-5.5%.

Additionally, the central bank indicated that three rate…

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Bitcoin Price Blasts $44K in Spectacular Surge as Spot Bitcoin ETF Approval Looms Large

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Bitcoin price has been hovering above the $43,000 psychological level over the past two days amid anticipation about the potential approval of a spot bitcoin ETF. The flagship cryptocurrency has climbed more than 16% in the past week and nearly 170% in the year to date. Bitcoin’s total market cap has increased by nearly 5% over the past 24 hours to $858.9 billion, while the total volume of the token traded rose by 43%. The Bitcoin price was trading at $43,914 at press time.

Fundamentals

Bitcoin price has posted significant gains over the past few days, climbing to its highest level since April 2022, before the crash of a stablecoin that started a litany of company failures, pummeling crypto prices. The world’s largest cryptocurrency briefly topped the crucial level of $44,000 on Wednesday amid rising momentum despite being massively overbought.

According to analysts, with no spot bitcoin ETF approvals yet and the halving event five to six months away, the market is riding on FOMO. Capital has been flowing in the Bitcoin market amid enthusiasm that the launches of spot ETF will bring in billions of dollars of new investment into the crypto sector.

Investors have already started providing capital as seed money for ETF products. Notably, a recent report by CoinDesk showed that the world’s largest fund manager, BlackRock, received $100,000 in capital from a seed investor for its spot bitcoin exchange-traded fund…

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