Welcome to Bulliscoming Coinflip Bitcoin ATM Review. CoinFlip’s mission is to give the world quick, easy, and secure access to the benefits of cryptocurrency. Coinflip believes that cryptocurrency provides an inclusive financial system, which puts individuals’ needs first.
What is CoinFlip?
CoinFlip is a leading financial services platform focused on the digital economy. CoinFlip’s vast network of crypto ATMs across the United States supports the buying and selling of major cryptocurrencies with cash.
In 2020, CoinFlip launched an over-the-counter trading service that provides investors with a personal account manager, competitive coin pricing, and offers recurring investments. The company does not charge hidden fees, cuts typical ATM transaction fees by as much as half, and introduced 24/7 customer support, which has now become an industry standard.
Headquartered in Chicago, CoinFlip placed 60th on the 2021 Inc. 5000 list as the top-ranked cryptocurrency company, was named the 2021 #1 fastest-growing company in Chicago by Crain’s, and was awarded the 2021 Silver Stevie ® Award for Customer Service. For more information about CoinFlip, please visit.
Coinflip Bitcoin ATM Review
CoinFlip believes that bitcoin and blockchain technology has the ability to serve everyone. Since 2015, CoinFlip has empowered those left out by the traditional banking system to join an innovative and inclusive global economic system.
With low fees, the largest network of Bitcoin ATMs by volume in the US, and the most reliable customer support, CoinFlip claims to be one of the best ways to purchase and sell cryptocurrency.
CoinFlip Bitcoin ATM customers report that they save about $325 every year in fees vs. the leading competitors. Based on 2021 data of customers with 6+ transactions/year, and, their goal is to make the process of buying crypto as easy and safe as possible.
CoinFlip takes pride in having low fees. They currently offer three different services:
- CoinFlip Bitcoin ATMs for cash transactions,
- an over-the-counter Trade Desk for instant bank transfers,
- wire or ACH transactions, and
- an online option for buying cryptocurrency with credit or debit cards.
The minimum purchase amount varies from coin to coin, starting at $5, with the minimum purchase for Ethereum being $20, and the transaction fee for purchasing crypto at CoinFlip Bitcoin ATMs can range from 6.9% up to 12.9%. The transaction fee is added to the cryptocurrency’s market price, which CoinFlip determines using index prices. By using a CoinFlip Bitcoin ATM, you agree to CoinFlip’s determination of the cryptocurrency’s market price.
If you have a discount code, the discount will be deducted from the CoinFlip fee.
CoinFlip also charges a fluctuating network fee which is used to cover the cost the blockchain charges for processing the transaction. The network fee is $1.99 typically but can increase based on the type of cryptocurrency being purchased and how busy the blockchain is.
What other coins can I buy or sell at a CoinFlip Bitcoin ATM?
Cryptocurrencies that can be purchased at a CoinFlip Bitcoin ATM:
- Bitcoin (BTC)
- Litecoin (LTC)
- Ethereum (ETH)
- Dogecoin (DOGE)
- Aave (AAVE)
- Stellar Lumens (XLM)
- Chainlink (LINK)
- USD Coin (USDC)
- Dash (DASH)
Cryptocurrencies that can be sold at a CoinFlip Bitcoin ATM that facilitates selling:
- Bitcoin (BTC)
- Litecoin (LTC)
Are crypto ATMs safe?
Crypto ATMs are the safest way to buy bitcoin and other cryptocurrencies using cash. They tend to be in well-lit areas of shops and restaurants with plenty of staff members nearby. When handling cash, it is essential to be aware of your surroundings and contact customer support immediately if you notice anything suspicious.
How to Use a Coinflip Bitcoin ATM Machine?
It’s actually quite simple.
To buy crypto, select the currency you’d like to purchase on the screen, and then press “BUY”. The terminal will ask you the quantity of crypto (in USD) you’d like to purchase. From there, scan your wallet QR code (public key) using the ATM’s scanner, and insert bills until you’ve reached the exact amount of crypto you want to purchase. Then hit the “Buy Bitcoin” or “Buy Altcoins” button on the bottom right of the screen and you’re all done! The transaction will immediately broadcast to its respective network and you’ll see the crypto en route to your wallet.
To sell crypto, press the BTC or LTC button on the screen, and then press “SELL”. The terminal will ask you how much cash you’d like to withdraw. From there, select how much cash you want using the $20 and $100 increment buttons ($50s may be available at select terminals).
After that, the machine will print a redeemable voucher with a public key QR code on it, and will also tell you how much crypto you’ll need to send to that address. Once you broadcast the transaction, you’ll need to wait for 1 network confirmation before you can actually withdraw your cash. When it confirms, go back to the terminal and select the “Redeem Ticket” button, and scan your voucher. After a few seconds, your cash will be dispensed!
First, find the nearest Coinfliip Bitcoin ATM Near you. Next, begin using the ATM by selecting the type of cryptocurrency you want to buy. Continue using the ATM by following the step-by-step guide in the videos below or by visiting our how-to guide on how to use a Bitcoin ATM.
Conclusion
Bitcoin ATMs have been popping up in convenience stores, shopping malls, and restaurants around the country to help make cryptocurrency more convenient and accessible. If you’ve never bought any bitcoin, or you typically buy your crypto online, you may be wondering what the point of a Bitcoin ATM is.
