CoinFlip global Bitcoin ATM operator announced a 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, according to a press release.
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.
Additionally, CoinFlip saw an average 48% increase in the number of transactions per customer in 2020. This was due to the company introducing a high-touch, concierge OTC trading service with a low investment minimum.
“2020 was the year Bitcoin proved all the doubters wrong and showed that the cryptocurrency market is maturing and viable,” Daniel Polotsky, CEO and founder of CoinFlip said in the release. “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.”