CHICAGO, Feb. 2, 2021 /PRNewswire/ — CoinFlip, the leading Bitcoin ATM operator globally, today announced record performance in 2020, with a 359% increase in revenue from the year prior and more than tripling the size of its Bitcoin ATM network. Responding to record demand for easy and accessible avenues to buy and sell cryptocurrency, CoinFlip grew its network from 441 ATMs in January 2020 to over 1,400 by year’s end, with terminals in 45 of the 50 states.
“2020 was the year Bitcoin proved all the doubters wrong and showed that the cryptocurrency market is maturing and viable,” said Daniel Polotsky, CEO and founder of CoinFlip. “As we continue to expand our ATMs across the United States and later internationally, we offer a quick, secure and simple cash-to-crypto onramp allowing anyone to quickly and safely start investing in Bitcoin and other cryptocurrencies.”
Additionally, CoinFlip saw an average 48% increase in the amount per customer transaction in 2020. To meet the needs of the growing number of customers who wish to invest $1,000 or more, CoinFlip introduced a high-touch, concierge OTC trading service with a low investment minimum.
“At CoinFlip, we believe cryptocurrency is a tool that can be made available to anyone, accelerating financial inclusion across the globe,” continued Polotsky. “By the end of 2021, our goal is to expand our network beyond North America, into international markets, enabling greater access to communities and individuals with reduced or no access to traditional banking resources.”
To support its unprecedented growth, CoinFlip increased its Chicago-based workforce from 17 employees at the start of 2020 to a team of 160, relocating to a new global headquarters in Chicago’s popular West Town neighborhood. The company is actively hiring across all divisions – more information about CoinFlip and its careers can be found on Indeed.com.
CoinFlip is the leading Bitcoin ATM operator globally, with over 1,400 machines across 45 states supporting the buying and selling of nine major cryptocurrencies. The company cuts typical transaction fees by more than half, offers an incredibly simple user experience and introduced 24/7 customer support, which has now become an industry standard. CoinFlip’s goal is to advance crypto adoption, accessibility and liquidity to support communities, like the underbanked, who need it most. Its ATMs are on the frontline of a financial revolution, where Bitcoin and blockchain technology can empower those who have been left behind by legacy financial institutions. Founded in 2015, CoinFlip is headquartered in Chicago.