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CoinFlip May 2020 Updates

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May 2020 has been a wild ride — with the world seemingly diminishing into chaos, the CoinFlip team has continued our expansion efforts with the goal to make CoinFlip the most inclusive cryptocurrency onramp. We achieved several big milestones this month, including a new wallet partnership, the deployment of over 60 ATMs, and the launch of our over-the-counter (OTC) service called CoinFlip Preferred. As we get close to our 750,000th transaction, check out the recap that we have for May and stay tuned for June, where we will have more partnerships, listings, and ATMs!

Monarch Wallet Monarch Wallet and CoinFlip released details of our partnership on May 5th, 2020. The partnership entails special discount codes for Monarch Wallet users and allows users to find their closest CoinFlip Bitcoin ATMs! Our CEO Daniel Polotsky had the following to say about the Monarch Wallet partnership. 

 Wallets and ATMs are naturally synergistic since every user needs to download a wallet before they purchase crypto from us, 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.

Sixty More CoinFlip Bitcoin ATMs, Millions to Go! CoinFlip deployed over 60 CoinFlip Bitcoin ATMs in May, with some to new areas such as Benton in Arizona, Union City in Georgia, and many more! We are on track to meet our goal of 1,000 ATMs by the end of 2020 and making bitcoin accessible to the cash economy through our ATMs. CoinFlip ATMs are the easiest and fastest way for someone to buy bitcoin with cash. 

 Some of these new ATMs come with anti-microbial coatings, which kills microorganisms and cleanses our ATMs to ensure the safety of our customers.

In addition, customers should be expecting to see our new model ATMs in stores close to them very soon — the BATM4! The new model is visually striking with a 23" touch screen, neon bezel, and sleek form factor. 

The Launch of CoinFlip Preferred  CoinFlip launched our over-the-counter (OTC) service called CoinFlip Preferred, which aims to bridge the gap between retail customers and traditional over-the-counter services that require a minimum of $100,000 to invest. CoinFlip Preferred’s minimum is only $5,000. 

We believe that anyone should be able to take advantage of low fees and deserves great customer support — which is why CoinFlip Preferred will also feature special concierges that clients can talk to and walk them through the necessary steps and procedures. Daniel Polotsky had the following to say: 

Our mission has always been to help regular people build their wealth by demystifying cryptocurrencies and giving them easier access to these burgeoning markets. With CoinFlip Preferred we can provide more Americans with the kind of high-touch investment service many companies reserve for their wealthiest clients.

Sponsorships  Our team is proud to support and sponsor the Crypto Entrepreneurs Podcast by CryptoCharles. The Crypto Entrepreneurs Podcast is a biweekly podcast focused on entrepreneurs in the bitcoin space and inspiring the crypto community to get involved in their own entrepreneur journey. This is the third podcast in which we sponsored, the first two being The Crypto Campfire Podcast and Kenneth Bosak Podcast. 

Updates on the CoinFlip Team The CoinFlip team is proud to say that we have increased our hiring efforts even in the current condition of the economy — whereas other companies are downsizing. We have hired nearly 20 employees in the last two months and will continue to hire even more in the upcoming months. More employees will help us maintain a higher standard of quality that our customers expect and allow us to bring new services and onramps to the CoinFlip ecosystem. 

Looking for a new exciting career? CoinFlip is always looking for tech-savvy and customer-oriented talent! Send us your resume at [email protected]

Community Outreach & What to Expect for June CoinFlip’s mission is to bring about more economic freedom, innovation, and equality of opportunity through the adoption of cryptocurrency. These values come from the communities we serve. In particular, many of our customers come from the approximately 25% of Americans who are underbanked. We’ve seen firsthand that these communities bear the full cost of financial exclusion, yet they have few alternatives. 

Crypto-based financial services have the potential to cut-out middlemen, lower fees, and disrupt the status quo in many more ways. Starting in June, CoinFlip will be dedicating even more of our resources towards supporting the underbanked in Chicago. By providing financial assistance, working with policymakers, and improving financial literacy, CoinFlip can help lay the groundwork for building stronger communities. 

Thank you, #FlipGang  The team at CoinFlip would like to express its heartfelt appreciation to each and every member of the community. The past few months have been turbulent to say the least. We know that many of our customers have had their lives upturned by the economic consequences of the pandemic. Yet, through it all, CoinFlip has continued to receive love, support, and laughs from the FlipGang. 

Here are a couple of our favorite memories:

@c3ntrx on Twitter supporting us wearing personal protective gear

@cybotcam on Twitter disinfecting and cleaning one of our ATMs 

We don’t take this support for granted. Your trust is our most valuable commodity. That’s why CoinFlip has always strived to provide our services honestly and transparently. We’re proud to offer low fees with the best customer service, but we’re not stopping there. The FlipGang has inspired us to redouble our efforts towards improving the lives of the communities we serve!

Be sure to stay tuned for updates in June! Follow us on social media today!