July 9, 2020
June 2020 was a month focused on growth and driven by our community. Our milestones this month include the placement of over 80 CoinFlip Bitcoin ATMs, our entry into 4 new states, a gamechanger coin listing, and volume records on our retail customer-driven over-the-counter (OTC) desk, CoinFlip Preferred.
CoinFlip now has over 700 total ATMs!
CoinFlip placed over 80 Bitcoin ATMs around the country this month, hitting our benchmark of 700 total CoinFlip Bitcoin ATMs. CoinFlip also began our entrance into Wyoming, Idaho, Maryland, and West Virginia! We now have 740 ATMs in a total of 42 states.
The number of total Bitcoin ATMs worldwide hit 8,000. While this industry is growing, we are looking to cement our place as an industry leader by always offering the lowest fees and 24/7 customer support.
Are you looking to host an ATM? Click here! Earn passive income and increase your foot traffic by up to 40% for your business just by having a CoinFlip Bitcoin ATM. We cover the cost of installation, maintenance, and marketing.
Listing USD Coin (USDC) On June 18th, we listed USD Coin (USDC) in order to bring more financial access and opportunities to our often underbanked communities. USDC is the leading stablecoin when it comes to decentralized finance (DeFi), meaning that users of USDC will be able to utilize many of the financial services that blockchain enables — decentralized loans, earning interest, and the ability to store money safely and securely.
The Advancing Blockchain Act
Our Chief Operations Officer, Ben Weiss, recently did a byline on Cointelegraph regarding the Advancing Blockchain Act that was proposed by Rep. Brett Guthrie, a Republican from Kentucky.
The Advancing Blockchain Act is something the crypto world cannot afford to sit on the sidelines for. Without strong advocacy, this bill is likely to be denied a hearing. This bill represents a wake-up call and rallying cry for innovators in the public and private sectors to band together, not only to catch up with but also to succeed against their global counterparts in the “blockchain race.”
Ben emphasized how the Advancing Blockchain Act will enable the U.S. to retain and grow its blockchain industry, especially the private-sector adoption of blockchain technology which has been slowed by regulatory uncertainty.
To read more about it, check out: https://cointelegraph.com/news/advancing-blockchain-act-the-us-ticket-for-blockchain-superiority
Our over-the-counter (OTC) service, CoinFlip Preferred, is demonstrating the demand for bitcoin from retail customers. CoinFlip Preferred did over 50 transactions and over a million dollars in volume in June. CoinFlip Preferred was launched last month as an over-the-counter trading desk meant for retail customers since unlike many other OTC trading services, which focuses on customers with at least $100,000 to invest, the minimum trade with CoinFlip Preferred is just $5,000.
Do you have friends or coworkers interested in entering the crypto world? Refer them to CoinFlip Preferred and earn $100 plus 15% of the fee revenue from their first four transactions. They will also receive 10% off their trading fees for signing up through you.
Thank you, #FlipGang
We want to thank the CoinFlip community for supporting and making June such a successful month. We know that 2020 has been an unpredictable year, but one thing we know for certain is that CoinFlip will continue to grow and help retailer customers and the underbanked communities have the best onramp to bitcoin.
Here are some of our favorite moments:
@JacobPiper808 teaching his son about bitcoin and ethereum through a CoinFlip ATM! The future is in the hands of the young, and by teaching the young about finance and cryptocurrency — we are establishing the wellbeing of our future.
@g68_charlie found a CoinFlip Bitcoin ATM less than five miles aware from where he worked! This is just a glimpse of what we are trying to achieve. Having an ATM on every corner is our goal!
Be sure to stay tuned for updates in July for more exciting CoinFlip updates!