Coinme, a venture-backed cryptocurrency financial services and blockchain technology company today announced UpToken (UP), a partnership with the cryptocurrency community to accelerate deployment of the largest crypto ATM network in the world.
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.
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.
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.
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.
Benefits for token holders include:
- 1% “Cashback” – 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 fee.
- 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 vote.
“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. With UpToken, we aspire to put a crypto ATM on every corner.”