Cryptocurrencies offer many advantages over traditional fiat money. The world is becoming more digital every day. All types of digital transactions are undergoing constant innovation. It is not surprising that conventional ways of doings things are becoming, not just rapidly outdated, but liabilities. Consider the following: how viable is an economy that is based upon people walking to markets? From history, we know human civilization can thrive this way. If you’re an aviation professional, you might use this same analogy when observing some of the happenings in modern markets.
The Origins of Coinflip ATMs
What about Internet professionals? How do they see fiat-based credit solutions that underlie the majority of digital transactions for real-world goods? The founding of Coinflip illustrates just how motivated that a mind which is open to technological innovation can become. Daniel Polotsky encountered this very experience upon using a less than friendly, to put it gently, Bitcoin ATM.
Daniel was so put off with the machine that was supposed to disperse to him Bitcoin that he decided upon finding someone on LocalBitcoins to meet him in person to complete the transaction. Well, at least the foot traffic described above is still useful in the millennial market to support a Bitcoin transaction. Daniel realized that the crypto industry needed a better solution. But possibly more important than that, cryptocurrencies should not be presented to the public in this way.
Advantages of Using Coinflip
Bitcoin is nowhere near the 1% of global GDP that it once achieved. And yet, innovation in this industry grows at an exponential pace. From new ideas about consensus protocols to advancing decentralized applications, crypto is not just about its market cap price. From the very beginning, the industry was driven by developers and forward thinking interested parties. By no means has this ever slowed. What has are some of the scams that plagued the industry during its bull run at the end of 2017.
Coinflip aims to help bridge the gap between users and developers. It does this by focusing on some basic principles that have users in mind. These are:
- maintaining low rates
- streamlining the registration process
- high-level customer service
As the industry grows so does Coinflip. Consumers now have access to six different types of cryptocurrencies through a Coinflip machine:
Diversification is important in crypto. This is different from the financial markets that seek portfolio diversity for securing long-term investment. Rather, it is for connecting the different use cases of cryptocurrencies. For example, Bitcoin is most secure, while Litecoin is fast and Ethereum runs elaborate smart contracts. Together, they make decentralization practical.
Many who are interested in crypto, and even some developers, fail to see that the industry is about putting users first. It is actually about empowerment, but without consideration for users during development, such an outcome would be highly unlikely. Coinflip was founded on user focused machines that give their consumers a local bitcoin option. Today, the company thrives because it maintains this ideology. It is likely that a user-friendly agenda will propel Coinflip to the forefront of crypto innovation for years to come.