Coinme, a venture-backed crypto financial services and blockchain technology company, will begin its UpToken crowd sale today at or around 15:00 GMT (8:00 a.m. PDT), offering a new crypto asset to help accelerate the deployment of the largest crypto ATM network in the world. There is no pre-sale, and the sale will be open to the public from the start.
UpToken was designed in partnership with J.R. Willett, who invented the token sale in 2013 with the launch of Mastercoin (now called Omni). Since J.R.’s pioneering launch, token sales have since generated more than $2 billion for blockchain technology companies. To date, pre-registrations for UpToken exceed $40 million USD.
Bitcoin has recently hit record highs, hitting an all-time high of $5,800 per Bitcoin, creating a market cap of nearly $100B, but while demand soars, still only a fraction of the world population has access to the revolutionary currency.
“Nine years after the creation of the first Bitcoin, there are still less than 20 million people who own Bitcoin. Compared to the more than 7 billion people in the world who could benefit from Bitcoin and other digital currencies, it’s clear we still have a long way to go,” said Neil Bergquist, Coinme co-founder and CEO. “The lack of user-friendly access to crypto is a major barrier to global adoption. With UpToken we plan to accelerate the deployment of a global crypto ATM network and help virtual currency ‘cross the chasm’ to become adopted by the masses. This includes giving access to the 2 billion people in the world who are unbanked and don’t even have access to basic financial services.”
While there are now more than 3 million traditional ATMs in use today, there are only 1,700 crypto ATMs deployed worldwide. For example, according to Coin ATM Radar, the entire continent of South America has less than 10 crypto ATMs. Even a developed economy such as Japan, with 129 million people and one of the world’s most active Bitcoin user bases, still has less than 20 crypto ATMs. UpToken seeks to change this by deploying thousands of crypto ATMs before the end of 2018, with 10,000 ATMs being deployed worldwide in less than 5 years.
Coinme first made headlines in 2014 as the first licensed Bitcoin ATM company in the United States. Since then, Coinme’s ability to humanize blockchain technology and to offer a seamless user experience has brought thousands into the growing crypto community. Coinme has learned that mainstream crypto users prefer a familiar ATM experience they can trust. Having written their own wallet and ATM software, Coinme’s user experience is unparalleled and allows users to buy Bitcoin and other virtual currencies instantly without having to deal with the headache of private keys and public wallet addresses.
The company’s ATMs currently handle about $100k in transactions per ATM per month, and now that the ATM hardware and software is developed and validated by thousands of customers, Coinme is ready to build a global network of crypto ATMs across both the developed and developing worlds.
UpToken is considered a rewards-based token and will offer purchasers the following benefits:
- 1% “cash back”. Each time a customer uses a Coinme ATM, Coinme will reward 1% of the ATM transaction to the customer, similar to a “cash back” rewards program.
- 30% discount. Customers will receive a 30% discount on ATM transaction fees if they opt to use their UpToken to cover the transaction fee.
- Voting protocol – Suggest the next cryptocurrency. Over time, Coinme will add new cryptocurrencies to the ATM network. Interested parties will use UpToken to vote for which ones should be added to the network.
The UpToken sale will begin on or about Monday October 16, 2017 at 15:00 GMT (8:00 a.m. PDT) and conclude on or about October 27, 2017 at 14:59 GMT (7:59 a.m. PDT) or until the supply of UpToken is exhausted. For the first 12 hours of the sale, UpToken’s supply will be uncapped. After the first 12 hours, the amount of UpToken available for purchase will not exceed $100 million.
Starting today, buyers can register and purchase UpToken at www.uptoken.org.
- UC Berkeley Opens New Blockchain Lab – Steve Chen Appointed to Co-Lead Newly Formed Berkeley Blockchain Lab - December 10, 2017
- Peter Vessenes Announces Deluge Network To Support a Safe and Direct Way to Contribute Bitcoin Directly to ICOs - December 5, 2017
- EXMO Launches Token Sale with Blockstarter’s ICO Solution - December 5, 2017
- AdHive, A Blockchain-Based Native Advertising Platform, Engages with WINGS DAO Platform - December 5, 2017
- Perkins Coie Adds SEC Attorney in San Francisco with Fintech and Blockchain Experience - December 5, 2017
- Cryptocurrency Monero Announces Breakthrough Online Shopping Initiative Featuring Top Global Artists’ Music and Merchandise - December 5, 2017
- Bitcoin for a ‘bit’ of Caribbean paradise - December 5, 2017
- With the Launch of SunCoin, Solar Bankers Takes On the World’s Energy Giants - December 4, 2017
- Blockchain News Is Merging With Token Report - November 30, 2017
- Mira launches Pre-ICO for Mira – an Easy and Convenient Way to Buy, Store and Send Cryptocurrency - November 23, 2017
- Dash and KuvaCash Partner to Fight Inflation in Zimbabwe with Cryptocurrency - November 22, 2017
- INS Ecosystem Partners with Ambrosus to Overhaul the Grocery Supply Chain - November 22, 2017
- Global Debt Registry Unveils Collateral Pledge Blockchain Proof of Concept - November 22, 2017
- Ripple Appoints Former New York State Superintendent of Financial Services Benjamin Lawsky to Its Board and Ron Will as CFO - November 22, 2017
- Advised by the Co-Founders of YouTube and Twitch, Theta Announces a Blockchain-based Video Delivery Network - November 22, 2017
- Modex adds top advisor from Google ahead of ICO - November 22, 2017
- Decentralized Ad Exchange AdEx Partners with INK to Handle the World’s First Blockchain-based Ad Auction - November 22, 2017
- Zilliqa Lowers Funding Cap Despite Heavy Demand from Investors - November 22, 2017
- Health Startup Etheal Combines Blockchain Technology with Micro-Incentives to Build a Peer-Reviewed Global List of Health Professionals - November 22, 2017
- Bitquence Rebrands as Ethos.io, Charting a Course to Unlock Crypto and the Future of Investment for the Masses - November 22, 2017
- Eidoo Introduces User Friendly ICO Engine – Allowing Crypto Startups To Launch And Manage Their Own ICOs For Fundraising On The Blockchain - November 22, 2017
- Simdaq Launches Social Platform for Democratisation and Development of Cryptocurrency Trading - November 22, 2017
- Gameflip Shatters FLIP Pre-Sale Goals, Sets Sights on December 4, 2017 ICO - November 22, 2017
- Golden Alliance Gold Mining Launches Token Sale - November 22, 2017
- Genaro and Storj Labs Announce Collaboration and Product Integration - November 22, 2017
- Metal (MTL) Now Available on the Chinese Cryptocurrency Exchange - November 22, 2017
- Mark.space & Jaguar Land Rover Announce Cooperation - November 22, 2017
- Exscudo – EON Testnet Was Successfully Updated - November 22, 2017
- Valorem Foundation Launches All-new Cryptocurrency Platform - November 22, 2017
- WAX Partners with Xsolla to Offer Its Platform to More Than 2,000 Video Games - November 22, 2017
- Brave expands Basic Attention Token platform to YouTube - November 22, 2017
- Narrative Launches Blockchain Based Social Network That Puts Revenue In Your Pocket, Not Mark Zuckerberg’s - November 22, 2017
- Gladius Uses Blockchain and Spare Bandwidth to Revolutionize Cyber Security - November 22, 2017
- Indorse Announces Partnership with App Store Cryptocurrency, AppCoins, ahead of MVP Launch - November 22, 2017
- Secutix And The Paléo Festival Nyon Announce The Success Of Their Blockchain Pilot Project - November 22, 2017
- ING launches major addition to blockchain technology: Zero-Knowledge Range Proof solution - November 22, 2017
- Cofound.it Announces Teams Participating in Upcoming Live Crowdsale Event - November 22, 2017
- PUBLIQ goes public: The blockchain and AI company that fights fake news announces the start of its Initial Token Offering - November 22, 2017
- Blockchain for Business SophiaTX Reveals New Details of Platform; Confirms Date for Token Generation Event - November 22, 2017
- BCShop.io Launches Partner Program - November 22, 2017
- World’s First Social Entrepreneurship Platform Moms Avenue Challenges Etsy by Gearing Up With Blockchain - November 21, 2017
- WAX Partners with Xsolla to Offer Its Platform to More Than 2,000 Video Games - November 20, 2017
- Pundi X integrates NEM blockchain to Bring Cryptocurrency Payments Into Retail Stores - November 20, 2017
- Fujitsu Develops Security Technology to Safely Connect Blockchains - November 20, 2017
- Jibrel Network Announces a Highly Successful Pre-sale Round - November 20, 2017
- KRAFTWERK on Blockchain - November 20, 2017
- MintHealth: Empowering Patients to Take Control of their Health and Data via Blockchain Technology - November 20, 2017
- IBM Completes PoC Of Blockchain-based Shared KYC With Deutsche Bank, HSBC, MUFG And Cargill, IBM Treasuries - November 20, 2017
- LetsEnhance.io to process images on Neuromation Platform - November 20, 2017
- Blockchain And AI Researchers Propose A New Model To Return The Control Over Human Life Data To The Patients And Accelerate Biomedical Research - November 20, 2017