Gaining Insight on CoinFlip’s Crypto ATMs

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.

About CoinFlip

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 user-friendly.

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 account.

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 cryptocurrencies.

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.