FlipCoin (ATM) - Bridging the gap between consumer and crypto.

  • What is CoinFlip?

    At CoinFlip, we feel that the exchange of different coins (like bitcoin and ether) into fiat currency should be a seamless and intuitive process. We are an established company in the Midwest that adheres to Know Your Customer and Anti-Money Laundering compliance protocols. Our goal is 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. While the 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. 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 we 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.

    CoinFlip turns purchasing cryptocurrencies into an easy and straightforward
    process. What we do is simple; we deploy cryptocurrency ATMs and conduct inperson
    bitcoin trades, and earn a profit by making a market.
    The Skokie, Illinois-based company was officially incorporated in December
    2015. Currently, the firm operates 13 ATMs, with locations in Third Lake,
    Elk Grove Village, Skokie, Lincoln Park, Wicker Park, Pilsen, Garfield Park,
    Woodlawn, Alsip, Rockford, Champaign, Naperville, and Calumet City. 12 of
    the machines accept cash and dispense cryptocurrency, and one of them
    (the Champaign location) is a more sophisticated model that can also accept
    cryptocurrency and dispense cash.
    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).
    We’re different. CoinFlip understands that not all customers can afford to wait
    or jump through hoops. Our registration requirements are straightforward, and
    our turnaround time is unparalleled. When our customers engage in an inperson
    transaction or use the ATMs, the cryptocurrency is sent to their wallet
    before they even have a chance to return to their car.
    Due to the convenience and speed that the company offers with regards to
    purchasing crypto, there has been immediate demand for our services. We
    have been able to grow very quickly because of our dedication to customer
    service (available 24/7), our enhanced reach via new locations, and our
    advertising campaign.
    Because cash is convenient for the user and carries extra risk/logistical issues
    for the vendor (us), we can charge a premium on the cryptocurrency that is
    purchased with bills. Currently, we charge 7% over GDAX’s market value of
    crypto for each sell transaction, and 3.5% under GDAX’s market value for each
    buy transaction. These are the lowest ATM fees in Illinois.
    Although it is hard to quantify the size of the cryptocurrency sector due to
    relative novelty, the space is quickly gaining traction in our society. It is still
    far from mainstream, yet as adoption continues to rise, so will CoinFlip’s
    transaction volume.

    FlipCoin Business Model

    * Core Components

    The business model at CoinFlip is centered around exceptional customer
    service, low fees, and the simple user interface of our machines. There are
    other ATMs on the market that are intimidating to users and are difficult to
    use. In addition, they gouge their customers by charging unreasonable rates,
    sometimes in excess of 16%. We have two different versions of ATMs that we
    deploy. The majority are small one-way machines that accept fiat cash in
    exchange for the corresponding crypto amount, which is sent immediately to
    the customer’s wallet address. The second is a larger two-way machine that
    allows people to buy or sell cryptocurrencies for fiat cash.

    * ATM Design 

    Our primary ATM design consists of: 

    • A small outer shell comprised of durable metal 
    • A simple grey stand that the ATM is bolted on top of 
    • A tablet-like screen that has an integrated user interface 
    • A state of the art validator that quickly accepts fiat cash 
    • A camera that makes it easy to verify customer identities 

    The larger two-way machine is a single unit with multiple recyclers that allows users to sell their crypto to CoinFlip.

    * Terminal Software & Transaction Process

    The user interface is easy to use. This is critical in a space that is often criticized for being too complex for the average consumer. Users are prompted through a quick registration process if they choose to purchase an amount over $500. The registration is tied to a user’s primary phone number. After submitting a picture of a valid government-issued ID and a matching selfie through the built-in ATM camera, the user is then able to scan his or her QR address code and insert bills of any denomination into the ATM. After the user is finished inserting each individual bill, he or she is prompted to confirm the total amount. The corresponding value in crypto will be automatically sent to his or her wallet address.

    * Backend Server Protocol

    Every registration over $500 is manually approved by a CoinFlip associate. We
    take our compliance program extremely seriously and run all of the verification
    checks that are required by the federal government. Government-issued IDs
    and user information gathered during the registration process are stored on a
    secure server, and never sold to a third party.

    Token Model

    * Token-Holder Incentives

    We are now excited to offer FlipCoin tokens to our dedicated supporters. They
    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).
    We are also in the process of submitting applications to have FlipCoin tokens
    listed on major exchanges, so that they can easily be acquired by new
    customers (or unloaded by old ones).

    * 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. We will drop our fees in half for these holders. Our
    buy crypto for cash fee will decrease from 7% to 3.5% above spot price, and our
    sell crypto for cash fee will decrease from 3.5% to 1% below spot price.
    Can’t reach our ATMs? No worries! While you wait for a CoinFlip terminal to
    reach your town, you can always send us a wire transfer (domestic only) in
    order to purchase crypto. We will cut our wire fee from 4% to 2% above spot
    price for FlipCoin members in this tier. This deal (and virtually all of the other
    incentives) do not expire.
    As we use the sale proceeds to expand our ATM and client networks, the oncein-
    a-lifetime discount this token provides will gain in usefulness. We will also
    attempt to process ACH payments and credit card transactions, which the
    discounts will apply towards.

    >$500 USD (if purchased during sale)
    or 0.5% of Total Outstanding FlipCoins (if purchased after sale)
    Members in this tier will gain admission to quarterly CoinFlip networking
    events, which will be attended by influential individuals in the Chicago/
    Midwest crypto network. The individuals who own over 0.05% of FlipCoins after
    the initial sale will also receive CoinFlip apparel (such as snapbacks or t-shirts)
    as a “token” of our appreciation.
    >$1,000 USD (if purchased during sale)
    or 1% of Total Outstanding FlipCoins (if purchased after sale)
    CoinFlip will provide this group with on-demand consulting to answer any
    questions related to cryptocurrency. Simply call us, and we’ll give our two
    cents about where the industry is headed, or perhaps provide advice regarding
    securely acquiring and storing crypto.

    Token Model

    We will also periodically send these members literature and/or videos about
    different topics surrounding the sphere.
    >$5,000 USD (if purchased during sale)
    or 2% of Total Outstanding FlipCoins (if purchased after sale)
    Have you ever wanted to bring cryptocurrency ATMs to your area, but didn’t
    know where or how to start? If so, you may want to consider purchasing
    FlipCoin. CoinFlip now gives aspiring ATM operators access to its brand,
    compliance protocol (US-tailored), customer service representatives (who
    speak English and Russian), and server specialists. CoinFlip will waive its usual
    $10,000 upfront setup fee for token holders in this tier. As more potential
    licensing partners find out about CoinFlip, this token will gain utility. New
    operators are already in the process of helping us expand nationwide, and
    hopefully this incentive allows us to do it even faster!
    *CoinFlip reserves the right to reject potential operators and refund
    their entire contribution (the amount refunded will be the USD value of
    the contribution at the time of purchase)*
    >$10,000 USD (if purchased during sale)
    or 4% of Total Outstanding FlipCoins (if purchased after sale)
    You, my friend, must really like us. For this amazing show of support, we will
    grant these angels full access to all CoinFlip financial/sales reports, and will try
    to incorporate them into future ventures. They will also have a seat at all of our
    board meetings (virtually or in person), and will act as the company’s official
    *The incentives build on each other. For example, if you own more than 0.05%
    of released FlipCoins, you will obtain the discounts, the apparel, and the access
    to the networking events.
    **New customers who obtain over 0.01% of tokens after the initial sale must
    wait two weeks before presenting them for discounts.
    Additional Incentives
    Accelerated Cryptocurrency Adoption/Increased Network
    If we successfully connect fiat-holding citizens with a fast and simple
    method to inexpensively turn their cash into crypto, then the cryptocurrency
    community will grow as a result! Should we hit our goal of 100 ATMs by
    the end of 2018, then we will have noticeably increased the network of the cryptocurrencies we trade (bitcoin, ethereum, and litecoin as of now).

    History and Development Timeline

    * Past Milestones

    CoinFlip is growing quickly and has already blown past years’ sales numbers
    out of the water. As we 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 we are looking to
    quickly expand. We recently ordered 20 new machines from our manufacturer,
    and have plans to deploy 1-2 ATMs per week in new locations throughout the
    Midwest. You can check out our website, http://coinflipatms.com, 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 our ATMs.
    We currently offer consulting sessions/managed services for people unfamiliar
    with the cryptocurrency space. We are additionally speaking with a variety
    of entrepreneurs who want to incorporate our ATMs and brand into their own
    business (licensing). These ventures will be set up alongside regular CoinFlip
    operations. We handle the branding, compliance, customer service, and server
    support, which allows our operators to overcome the steep learning curve
    involved in running a business of this nature.

    Token Sale

    * Presale Registration

    Prior to the crowd funding period, we are offering the crypto community to
    register wallet addresses. This will allow us to have a better idea of how
    many people plan on participating and how much they plan on contributing.
    More information on the presale registration date and overall process will be
    provided in the future.

    * Token Sale

    An ether or bitcoin wallet address will be displayed upon logging in on the
    sale’s website (flipcoinsale.com) 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 our 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 a
    reward for all of the hours they put in to make this token a reality.

    Token Sale Goal: $5 million

    Total token supply: up to 50 million

    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, get started and register here.

    * Funding Usage Breakdown

    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 us to immediately purchase more ATMs (10%), market our
    brand (15%), and increase crypto inventory (30%). Our goal to deploy 100 ATMs
    by the end of 2018 is lofty, but definitely doable.

    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. We’ve
    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 us apart from the competition.


    One Pager:

    White Paper:

    Partner Documents:







Looks like your connection to Cryptocentral was lost, please wait while we try to reconnect.