Good evening guys, welcome to another exciting post where we will be talking about new innovations storming the blockchain.
Today topic is titled FLIPCOIN (ATM)
SO WHAT IS FLIPCOIN?
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Flipcoin is the new Crypto ATM Membership Tokens, which turns purchasing cryptocurrencies into an easy and straightforward process. What they do is simple; they deploy cryptocurrency ATMs and conduct in-person bitcoin trades, and earn a profit by making a market.
What Problems those this Coin Aim to Solve?
As we all know access to digital currencies that are used to participate in the ICO’s can be sometimes hard to purchase.
Online marketplaces such as Coinbase and Bitfinex make purchasing cryptocurrency painfully annoying. They all require a rigorous on-boarding process that requires even small-time buyers to divulge very personal information, such as government identification, bank statements, and social security number. Not only that, but receiving the cryptocurrency takes a very long time; Coinbase will make users wait for 7-10 days for ACH purchases, and an exchange like Bitfinex requires a wire transfer that is not only time consuming, but costly (usually around $40-$70 for US customers).
This is where Flipcoin comes in; they understand that not all customers can afford to wait or jump through hoops. There registration requirements are straightforward, and turnaround time is unparalleled. When customers engage in an in-person transaction or use the ATMs, the cryptocurrency is sent to their wallet almost instantly.
What Flipcoin is actually Aiming to Achieve?
Flipcoin aims to create a global network of cryptocurrency ATMs that allow users to easily convert their highly-available fiat currency into relatively unobtainable digital assets (and vice versa).
Convenience of Cryptocurrency ATMs: Cryptocurrency ATM network is not as expansive as the online exchanges, ATMs do provide a location where users can take advantage of a quick registration process and the convenience of being able to exchange cash for cryptocurrencies in a matter of minutes.
Organically Growing the Cryptocurrency Ecosystem: Speed, convenience of acquisition, and a fair price are three sought-after components of cryptocurrency exchanges. In order to increase general awareness and encourage mass adoption, these facets need to be optimized.
These are core values at CoinFlip as they are actively trying to expand the ATM network across the country and eventually, the globe. People should be able to make bitcoin and other cryptocurrency purchases without hassle and time constraints. The easier it is to freely exchange fiat for cryptocurrency and vice
versa, the faster the overall crypto sphere will grow.
What does this Platform got to offer me?
Token-Holder Incentives: Flipcoin tokens
will be treated as a membership token that will provide benefits for those own it, with access to significant discounts, consulting, crypto networking events, and educational literature/videos created by CoinFlip (among other things).Owners of $100 USD (if purchased during sale) or 0.1% of Total Outstanding FlipCoins (if purchased after sale):
CoinFlip members that possess over 0.01% of our released tokens will be eligible for large discounts. They will drop there fees in half for these holders.
There buy crypto for cash fee will decrease from 7% to 3.5% above spot price, while There sell crypto for cash fee will decrease from 3.5% to 1% below spot price.
Let Us look at this Company History and Development Timeline:
(As written in white paper)
Past Milestones:
CoinFlip is growing quickly and has already blown past years’ sales numbers out of the water. As they continue to expand as planned, CoinFlip will be able to capture the market share in the Midwest and extend to other areas in the United States. The company’s goal is to operate 100 terminals by the end of 2018.Expansion:
CoinFlip currently has 13 ATMs deployed in Illinois, and they are looking to quickly expand. They recently ordered 20 new machines from there manufacturer, and have plans to deploy 1-2 ATMs per week in new locations throughout the Midwest. You can check out this website, ATM Location, to view a complete list of all current ATM locations. See Funding Usage for a breakdown of future expansion plans.Licensing Opportunities:
CoinFlip is in the process of adding other services to complement there ATMs.
They currently offer consulting sessions/managed services for people unfamiliar with the cryptocurrency space. They are additionally speaking with a variety of entrepreneurs who want to incorporate ATMs and brand into their own business (licensing). These ventures will be set up alongside regular CoinFlip operations.
Flipcoin Token Sale
(As written in white paper)
Presale Registration:
Prior to the crowd funding period, they are offering the crypto community to register wallet addresses. This will allow them to have a better idea of how many people plan on participating and how much they plan on contributing.Token Sale:
An ether or bitcoin wallet address will be displayed upon logging in on the sale’s website on the date of the crowd fund. Contributors will be able to send ether or bitcoin to the address in exchange for FlipCoin tokens for the entire duration of the sale. If you would like to participate, simply visit their website and create an account with username, password, and contact information.
Summary:
Presale: 10 million tokens at $0.08 per token
Sale: 30 million tokens at $0.10 per token
Last Chance: 10 million tokens at $0.12 per token
The ETH price of the tokens will be locked in one hour prior to the presale.
CoinFlip reserves the right to readjust the ETH price in order to align correctly with the above dollar amounts.
The project team members will split 5% of total outstanding FlipCoins as reward for all of the hours they put in to make this token a reality.
The Company Future Funds Plans:
Expansion (55%):
Your contributions will primarily be used to make CoinFlip’s affordable and simple services more accessible to everyone. Roughly 55% of all funds raised will go towards rapid expansion throughout the United States and worldwide.
This money will allow the platform to immediately purchase more ATMs (10%), market their brand (15%), and increase crypto inventory (30%).
Compliance, Accounting, and Legal (20%):
In order to effectively operate, the company will need to dedicate an increasing amount of resources to enhancing its compliance protocol as it scales. In addition, CoinFlip will need more sophisticated accounting and legal assistance once profits grow, more currencies are offered, and the company operates in different states/countries. 20% of funds will be used for these three purposes.
Core Team (15%):
15% of funds raised will go to the CoinFlip core team (comprising four members) in the form of a salary, prorated over the course of one year. They have been operating for nearly two years, and have bootstrapped the entire way.
None of the founding members were taking a base salary as recently as May of this year. This would allow them to continue organically growing the cryptocurrency ecosystem.
Software Upgrades (10%):
10% of all funds raised will go towards upgrading our software. This will improve the overall user interface and add necessary compliance/proprietary features to set them apart from the competition.
Company Contacts
Twitter - @coinflipatm
Facebook - CoinFlip
White Paper - https://www.flipcoinsale.com/Whitepaper.pdf
Final Thoughts
Personally, i think this would really change things when it comes to converting our cryptos into other currencies, considering the Speed, convenience of acquisition that comes with it. The I.C.O is currently ongoing and would end pretty soon, i would really advice you guys to get some token, it really looks promise. Am really not a trade expert or genius, its just my personal opinion.
That's it guys till we meet again and for info, details or ideas in the world of crypto join
Thank You Very Much For Your Time
click here!This post received a 1.5% upvote from @randowhale thanks to @iron-rode! For more information,
K
Thanks for the information
Now, are CoinFlip and FlipCoin one in the same? I'm a bit confused.. thx