This week’s new coin is Uptoken, a utility token created by Coinme. They installed the first licensed bitcoin ATM in the United States in 2014.
They are a company set out to accomplish the goal of having crypto ATM’s spread across the world like the traditional ATM. There are currently around 3 million ATM’s, to 1600 crypto ATM’s.
With so many people becoming interested in cryptocurrency, one aspect that pushes a significant number of potential investors away is the difficulty to initially purchase these coins and tokens. Using the proceeds from the Uptoken ICO, Coinme will begin creating the largest global crypto ATM network in the world, making it easier than ever to buy and sell digital currency.
By placing these ATM’s in developing countries, they will help bring decentralized financial services to the 2 billion people without a bank account.
The ATM’s will offer customers 1% cash back in the form of Uptokens. In addition, customers will receive a 30% discount on ATM transaction fees if they opt to spend their Uptoken to cover the transaction fee.
Uptoken will also be used as a voting protocol to choose the next currencies added to the Coinme ATM’s.
Uptoken just launched and has been listed on Upbit and Bittrex to start. Any entity pushing a project that supports mass adoption should be something we consider investing in, and with over 20 million dollars in daily volume so far, it offers good liquidity for trading as well.
Disclaimer: We are not financial advisors. We are currently not invested in Uptoken. This information is for educational purposes only. Invest in cryptocurrency at your own risk, and only invest money you can afford to lose.
