Reading any financial news source, we are bound to encounter an article on bitcoin – the exciting new instrument investors flock to buy. However, as Bitcoin is still largely unregulated it is quite a hassle to decide where to buy from.
At least that was until the appearance of Bitcoin ATMs – a simple and user-friendly way of buying and selling cryptos suitable for those curious but clueless. Meticulous research and having previous knowledge became optional. Simply enter the cash and watch your new Bitcoin balance.
Yet, despite their rising popularity, Bitcoin ATMs have not really changed much since first introduced, and remain expensive to use. Many providers charge a whopping 9.67% fee for buying and 6.23% for selling. They are still limited too: in a world with about 900 digital currencies, only a couple support any other than Bitcoin.
But times are changing. In 2014 a team of young professionals, Christopher Rieder and Wolfgang Thaler, decided that it was high time for Bitcoin ATMs to step up their game. The duo launched Cointed to provide a one-stop shop for buying and selling digital currency.
Their business model is aimed at facilitating every aspect of the digital currency world: exchange that operates with fiat currencies, green mining, and ATMs. Bitcoin ATMs were, of course, their focus. At first, they used an external supplier, but decided to create a machine on their own.
Christopher and Wolfgang set out on the journey to create a machine that had both impeccable security and high functionality. After disassembling more ATMs that you could fit in a hangar they managed to create an ATM with three clear advantages:
First, no more security concerns. Second, more room for choice, offering 5 different currencies. And on top of that they managed to bring down the fee as low as 3% compared to an average of approximately 5.37%.
Three years later, Austrians and people from neighboring countries are head over heels with Cointed ATMs.
They were the fastest growing ATM provider by number of locations this year. And that’s just counting their branded machines. They also sell under white-labels to other providers. Chistopher and Wolfgang are aiming even higher. Cointed now operates a whole digital currency exchange and has a full-fletched green mining facility. Its next aim: the crypto-credit card.
Despite the diverse services that Cointed offers, what truly sets them apart is their commitment to prudence. In the hardly regulated digital currency industry most providers are in an arms race to exploit people’s lack of knowledge or legal loopholes. Cointed, however, chose a different path. They are in the later stages of acquiring a banking license.
So, whether you are just starting and want a quick and foolproof way to get your hands on some Bitcoins, or an expert you can trust Cointed with all your needs.
Fan of ICOs? Cointed is currently holding its token sale campaign. Using the CTD token you’ll get lower fees using all Cointed products, and will be able to purchase exclusive software and hardware for green mining or payments.
Naturally the CTD token can also be traded like any digital currency.
And if regulators are about to give them a banking license. That’s trust you can trust.