Coinme, a venture-backed crypto financial services and Blockchain technology company, announced UpToken, a partnership with the cryptocurrency community plans to create the largest crypto ATM network in the world. The UpToken sale was designed in partnership with J.R. Willett, inventor of the first token sale, and will begin on or about October 16th, 2017.
As the first licensed Bitcoin ATM company in the U.S., Coinme’s proven track record and human-first approach have brought thousands of people into the growing crypto community.
Buyers must register for the UpToken sale and can do so on www.uptoken.org, starting today.
As history has shown, traditional economies are vulnerable to inflation, political instability, and institutional manipulation. To address these issues, Bitcoin was created in October 2008—just weeks after the global financial collapse. Nine years later, the cryptocurrency market capitalization has passed $100 billion in value. However, access remains the major barrier to continued growth in this industry. While there are now more than 3 million traditional ATMs in use, there are only 1,600 crypto ATMs deployed worldwide.
“We believe money should be accessible everywhere, and our mission is to help the world gain access to virtual currency through the necessary financial infrastructure,” said Neil Bergquist, Coinme cofounder and CEO. “With UpToken, we aspire to put a crypto ATM on every corner.”
UpToken is a new crypto asset that will accelerate the establishment of a global network of crypto ATMs for widespread access to virtual currency. Consumers who purchase UpToken will benefit from discounted ATM fees as well as special voting rights.
Key benefits for token holders include:
- 1% “cash back.” Each time a customer uses a Coinme ATM, the customer will receive 1% “cash back” in UpToken (based upon current market prices of UpToken).
- 30% discount. Customers will receive a 30% discount on ATM transaction fees if they opt to spend their UpToken to cover the transaction
- Voting rights – Choose the next cryptocurrency. Over time, Coinme will add new cryptocurrencies to the ATM network. Elections will be held, and interested parties will use UpToken to
The UpToken sale will begin on or about October 16th and conclude on or about October 27th, 2017, or until the supply of UpToken is exhausted.
Starting today, prospective buyers can register at www.uptoken.org.
Coinme is a venture-backed crypto financial services and Blockchain technology company that is dedicated to helping the world gain access to virtual currency. Four years ago, Coinme became the first
licensed Bitcoin ATM operator in the U.S. and now processes millions of dollars (USD) each month. The company’s vertically integrated network of crypto ATMs, digital wallet, exchange, crypto IRA, and 401k investment services provide customers the opportunity to join this financial revolution. As a licensed financial services provider, Coinme is well positioned to lead the way.
Here you can see Willett talking about ICOs in 2013 at an event. Hat tip to great article by Laura Shin at Forbes for finding the video and writing a great piece on the topic.
Shin writes… four and a half minutes in, one of the panelists begins to describe an idea he’s had:
“If you wanted to, today, start a new protocol layer on top of Bitcoin, a lot of people don’t realize, you could do it without going to a bunch of venture capitalists and instead of saying, hey, I’ve got this idea, you can — you’re familiar with Kickstarter I assume? Most of you? You can actually say, okay, here’s my pitch, here’s my group of developers — there’s a lot of developers in this room. If you get a bunch of trustworthy guys together that people have heard of and say, okay, we’re going to do this. We’re going to make a new protocol layer. It’s going to have new features X, Y and Z on top of bitcoin, and here’s who we are and here’s our plan, and here’s our bitcoin address, and anybody who sends coins to this address owns a piece of our new protocol. Anybody could do that. And I’ve been telling people this for at least a year now because I want to invest in it. I don’t have a ton of coins, but that’s where I want to invest my coins. And I’ve yet to find somebody who wants my coins. Does anybody in this room want my bitcoins because I want to—”
“I’ll take them,” someone shouts, and the video ends.