CoinFlip Hits 700 ATMs And Lists Popular Stablecoin USDC

Summary

• CoinFlip hit a major milestone as it surpassed 700 Bitcoin ATMs in the U.S.
• USDC is now available on CoinFlip ATMs.
• CoinFlip Preferred, a new OTC service, completed more than 50 transactions worth more than $1 million in volume in June.

Although the last few months have been especially difficult for many businesses in the U.S. and around the world, several companies have managed to continue business as usual. One such company is CoinFlip. CoinFlip is the world’s leading cryptocurrency ATM operator. With the number of participants in the crypto market growing every day, CoinFlip will play a crucial role by helping new entrants buy and sell a wide variety of cryptocurrencies.

While there are several ATMs that consumers can choose from, CoinFlip has a lot of advantages over its competitors that consumers should be aware of. Those advantages include:

• 10 cryptocurrencies to choose from including its new listing, USDC
• Quick speed transactions that are completed within 30 minutes, usually much faster than that
• Minimal verification requirements such as name and phone number
• Cheapest fees of any crypto ATM in the world

Even though CoinFlip has the strongest position of any crypto ATM in the industry, that hasn’t slowed the company down. In May, CoinFlip announced a partnership with Monarch Wallet that will continue to bring in new customers. The company also announced the launch of its new concierge service called CoinFlip Preferred. Often times, more sophisticated traders will want to place large orders while achieving the best possible price. In order to do this, the orders will normally be sent to shops offering OTC services. The problem with these services is that normally the minimum trade size is $100,000. CoinFlip offers the same services for a much smaller minimum of $3,000.

In the month of June alone, CoinFlip Preferred completed over 50 transactions worth more than $1 million in transaction volume. Given that June was only the first full month for this new OTC service, the coming months should see even more volume especially as referrals begin to pay dividends.

700 Domestic ATMs Milestone

During the month of June, CoinFlip installed over 80 crypto ATMs bringing its grand total to 740 ATMs across 42 states. CoinFlip also began service in 4 new states including Wyoming, Idaho, Maryland, and West Virginia. While the growth in the U.S. alone is extremely impressive, it’s also important to note that the company now has more than 750 Bitcoin ATMs around the world. CoinFlip has truly come a long long way since its inception just a few years ago.

USDC Stablecoin Listing

A stablecoin is a new class of cryptocurrencies that attempts to offer price stability by backing the coin against a reserve asset. These stablecoins have been growing in popularity due to the volatility of Bitcoin and other cryptocurrencies during the past couple of years. One of the most popular stablecoins, USDC, is a token that is worth exactly 1 USD.

Since many crypto traders like to keep a portion of their holdings in stablecoins in order to take advantage of drops in the market, it was imperative for CoinFlip to make at least one of these stablecoins available to the public. That time has finally come as CoinFlip has announced the listing of USDC.

As one can tell from the above chart, the price is almost always hovering around the $1.00 mark except for a few instances when it surged higher. And, the volume bar along the bottom indicates that there is a lot more activity now than there was just 18 months ago. USDC is going to prove to be an immensely popular offering for CoinFlip ATMs.

Summary

During a time when many businesses are still closed due to the global pandemic, it’s quite awe inspiring to see what CoinFlip has been able to achieve during the months of May and June alone. If the next 2 months are anything like the last 2, CoinFlip is in for a very exciting and profitable period of time.