CoinFlip deals with different types of cryptocurrency.
Daniel Polotsky heads the company. Over the years, Polotsky has been
interviewed by various media houses. As the CEO of CoinFlip, he has managed to
enhance the progressive growth of the firm.
CoinFlip has focused on ensuring that they have set up
bitcoin ATMs. According to Polotsky, he first encountered a Bitcoin ATM while
in Chicago. Coming across a Bitcoin ATM was somewhat intriguing. The main issue
was the Daniel Polotsky noticed that the specific Bitcoin ATM he came across
was not user-friendly. Polotsky opted to purchase Bitcoins from
localbitcoins.com. He later got the bitcoins that he needed.
After conversing with his trading partner, Polotsky came up
with the idea of the bitcoin ATMs, and he would focus on operating as a local
trader. One bitcoin ATM would attract a huge client base. If you are not
conversant with different forms of technology, you can gain significantly from
the user-friendly bitcoin ATMs. After the bad experience with a bitcoin ATM,
Polotsky focused on ensuring that he could set up local bitcoin ATMs that would also be
CoinFlip usually trades more than six types of
cryptocurrency. At the bitcoin ATMs, you can either receive the cryptocurrency
or cash; it always depends on the preferences of each user. CoinFlip usually
deals with Litecoin, Ethereum, Komodo, Tron, and bitcoin. At the moment,
CoinFlip has more than 120 Bitcoin ATMs in the United States. The company also
accepts wire transfer transactions. CoinFlip has also focused on ensuring that
they can offer convenience to their clients. Through CoinFlip, you can easily
purchase cryptocurrencies without the need to source for funds from your bank
The main advantage is that you will not have to wait for
several months for your transaction to be approved. CoinFlip also ensures that
each client gets a pleasant user-experience. In case you have any questions,
you can easily reach out to the customer care center at CoinFlip via a phone
call. All of your questions will also be answered accordingly. After
registering with CoinFlip, each account is usually approved in less than five
minutes, and clients can start to transact by either buying or selling the
When looking into the buying and selling of
cryptocurrencies, you should factor in some factors, such as different
regulations that surround the industry. While establishing CoinFlip, Polotsky
ensured that they were very cautious so that they would not end up on the wrong
side of the law Polotsky started by contacting the Illinois regulator and they
were informed that they could operate bitcoin ATMs within the state. They would
ensure that they are selling the Bitcoin that they have stocked. There was also
the banking issue; however, the banks were compliant at first, but they, later
on, changed their minds.
To ensure that CoinFlip was up and running, Polotsky used
the money that he had saved while handling some regular jobs. Polotsky believes
that you need at least twenty thousand dollars for each bitcoin ATM to ensure
there is a steady cash flow. To put up more ATMs, you will need more money.
Over the years, the annual sales at CoinFlip have been rising progressively.
During a recent interview, Daniel Polotsky also went ahead to state that he
could not reveal any information about the company’s financial structure.