CoinFlip Continues to Dominate the U.S. Cryptocurrency ATM Market - Global Coin Report
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CoinFlip Continues to Dominate the U.S. Cryptocurrency ATM Market

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CoinFlip

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

As Global Tensions Grow, Bitcoin Price May Go Higher

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BTC Surged Again as A Safe Haven Asset During Global Tensions

  • India – China Border Conflict

After weeks of squabbling and brawling along their long-disputed border, hundreds of Indian and Chinese soldiers engaged in a deadly clash Monday in a river valley that’s part of the region of Ladakh last week. Troops had massed on both sides of the border in recent months in the northern India region of Ladakh and the southwestern Chinese region of Aksai Chin, causing global concerns of a potential escalation between the two.

  • North and South Korea Clash

Last Tuesday, North Korea destroyed the liaison office it jointly operates with South Korea in the city of Kaesong, just north of the demilitarized zone that separates the two countries. 

North Korea also said it would send troops to now-shuttered joint cooperation sites on its territory, reinstall guard posts and resume military drills at front-line areas in a violation of separate 2018 deals with South Korea. Jeong said South Korea will take “immediate, swift and corresponding” steps to any North Korean provocation.

The tensions grown in Asia and the potential “second wave” of coronavirus in the United States may add more difficulties to the global economic recovery. Thus, Bitcoin, as a safe haven asset, attracts more investors to buy and hold. 

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Cryptocurrency Fraud is Evolving; Bitcoin ATMs Mitigate Risk 

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Cryptocurrency Fraud is Evolving

In one of the more overlooked aspects of the crypto ecosystem, it appears that the bulk of illicit activities are shifting from hacks and thefts to cryptocurrency fraud and scams.

CipherTrace, the crypto-surveillance, and analysis firm released a report at the end of Q4 2019 that revealed hacks and thefts had decreased by 66 percent in 2019 while fraud and misappropriation of funds surged by 533 percent. And beneath the COVID-19 hysteria of 2020, hacks in the crypto sector have been eerily isolated. 

Outside of a few exploited flaws in P2P exchanges and DeFi flash loan vulnerabilities, the headline-grabbing hacks of exchanges for hundreds of millions of dollars have been absent so far this year. Is the industry due for another massive hack, or are stringent KYC/AML processes, regulatory crackdowns, better security practices, and blockchain surveillance working? 

KYC/AML Improvements Are Reducing the Appeal of Crypto Exchange Laundering 

2020 is far removed from the no-KYC wild west days of the early-mid 2010s where anonymous altcoin casinos preponderated and the Dark Underbelly of Cryptocurrency Markets thrived. 

Today, bitcoin and the crypto ecosystem is becoming institutionalized with a surfeit of derivatives (e.g., options, futures, perp swaps, etc.) available on regulated exchanges. 

Most of the leading exchanges adhere to…

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IE Option – 91% Profit on BTC Fluctuations in Every 60s

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On Thursday, Bitcoin price broke below $6,700 and hit the weekly low to $6,480. Then, it rebounded back above $7,000 again with an increasing rate of 5%. At press time, based on the incomplete statistics, more than $720 million worth cryptocurrency futures contracts have been liquidated in this week. During the strong market fluctuation, investors are learning a hard lesson about the downside of cryptocurrency futures trading with leverage. 

Since we know that we cannot make money by investing in BTC spot trade during the bear market, and we notice the high risks of liquidation by trading leveraged bitcoin futures contracts, how can we hedge the loss in spot trade and profit from the BTC market volatility? 

BTC Option is a profitable trading product that you can turn to!

What is Option?

Option is a type of crypto derivative contract which enables investors to make speculative bet on price rising and falling. Call option means that trader long BTC at a given strike price, while Put option allows trader to short BTC at a given strike price. 

For example, if you predict that BTC price may surge, you can buy a call option. Suppose that you buy a call option at $7,000. As long as price exceeds $7,000, you can make profit. 

IE Option – Get 91% Profit in Every 60s

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