Regulated

Score

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/10

COINFLIP

United States

|

5-10 years

MTL License|

MSB License|

Suspicious Overrun|

Medium potential risk

https://www.coinflip.tech/

Website

Rating Index
Influence

Influence

A

Influence Index NO.1

United States 7.79

Better than 99.83% exchange(s)

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Influence
A

Licenses

NMLS

NMLSRegulated

MTL License

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FinCENExceeded

MSB License

Exchange Info

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Company Name
COINFLIP
Phone of the company
18777572646
Company website
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Customer Service Email Address
support@coinflip.tech

WikiBit Risk Alerts

1
Previous Detection 2024-04-17

MSB License goes beyond their business with the licenses United States FinCEN (license number: 31000172544936), please be aware of the risk!

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Time Machine

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User Reviews

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25 ratings

Participate in evaluation
FX1149011182
"Coinflip's trading liquidity is very poor, I am unable to buy or sell enough cryptocurrency during trading. Additionally, the customer service is also unreliable, with responses often being very slow, which severely impacts the experience. Overall, there are too many areas that need improvement."
2024-02-14 19:50
2
Mickeyshow
It's relatively new, having launched in 2020. It's not a very well-known exchange, but it seems to be growing. It is legit and secure project.
2023-12-21 15:31
5
Nsikako
nice one for the future
2023-10-29 19:33
4
Hamzah Shahrin
Been using COINFLIP, nice interface and a good variety of cryptos but the withdrawal speed and fees, not cool man.
2024-03-13 23:52
3
Precious Andy
when it comes to trading fb coinflip is the best for me cause of it’s amazing feature give it a try and you won’t regret.
2023-11-28 04:49
6
Precious Andy
Coinflip is a really a legit platform their exchange rates are secure. Trading with this platform is really amazing.
2023-11-25 14:08
6
Dazzling Dust
Founded in 2015, CoinFlip's mission is to make cryptocurrency safe and accessible to all. They've built a nationwide network of Bitcoin ATMs, allowing easy cash-to-crypto transactions. Now, Olliv is set to bring fresh innovation to this journey.
2023-11-11 09:40
1
Gentle Tommy
COINFLIP is a legit platform
2023-11-06 04:36
9
Kenny wise
This wallet has many safety features beyond storing your private keys offline and safe from potential hackers.CoinFlip is far superior to the other crypto currency exchange ATM services."
2023-11-26 11:06
4
thal
good luck for the future! the best
2023-08-24 19:11
4
FX1952967138
COINFLIP has a user-friendly interface. In addition, low transaction fees make it even more attractive!
2024-02-23 10:15
6
Đại Gia Chân Đất
CoinFlip is an innovative platform with Blockchain technology. The customer support team is always ready to assist.
2024-01-20 20:58
1
Jenny8248
An excellent one, very useful for the future, I love it,
2023-11-01 21:39
1
Onnaboo
using Coinflip since 2015 makes me testify that this trading platform accessable and reliable. It's as the best trading tools which helps users trade with less complain
2023-11-22 14:08
10
Rø Mêø
Security one of most advantages , can save money on it safely , real time transfer to any wallet or account , Coinflip Pay is perfect
2023-12-20 07:38
3
Rø Mêø
Its free, easy to use and they are one of the most secure platforms.
2023-12-06 08:14
5
Rø Mêø
the only time i had a problem with the platform was about a week ago when there were a lot of "http" errors and there was no option to buy (and asset prices were great at the moment) or sell (as other assets grew stronger 😁) nevertheless, strong 7 because i am satisfied with the features, bonuses, etc
2023-12-04 04:55
6
mark Fredrick
I appreciate the way coin flip offers competitive spreads and low fees making it cost-effective for me to trade
2023-11-26 01:22
3
Døñ Dërêk
Coinflip is one of the best trading platform it's has sure legit and accurate exchange rate which is much more beneficial to experienced and and inexperienced traders
2023-11-25 00:22
8
mark Fredrick
I appreciate the way this trading app provides educational resources and tutorials, empowering me to enhance my trading knowledge and skills
2023-11-24 14:01
7

View all comments

⭐Features Details
⭐Exchange Name COINFLIP
⭐Founded in 2015
⭐Registered in United States
⭐Cryoptocurrencies 40+
⭐Trading Fees Vary depending on different services
⭐24-hour trading volume $10 million
⭐Customer Support Phone, Email, Social Media

What is COINFLIP?

CoinFlip, a cryptocurrency ATM operator venturing into exchange services. While not as renowned as major exchanges, it offers unique features—spot and margin trading, staking. CoinFlip isn't the typical exchange; it's a Bitcoin ATM provider with online trading and card options via Simplex. Plus, it's accessible across 20,000+ US and Canada locations.

basic-info

Pros and cons

COINFLIP excels in these areas:

  • Getting users' your back with a range of payment methods.

  • Multiple trading features offered, like spot and margin trading, along with staking opportunities.

  • Users can easily get hold of cryptocurrencies using their ATMs.

  • Regulated by NMLS, ensuring a regulated trading environment.

COINFLIP lacks these areas:

  • This exchange's primary focus is on the American and Canadian markets.

  • Offering a limited selection of coins, only 40.

  • Not as well-known as other established exchanges.

Pros Cons
Regulated exchange Primarily focus on the America and Canada Markets
Can buy cryptos via ATMs Limited coins listed
Various payment methods Not famous as many other established exchange
Multilple trading features offered, spot and margin trading, staking.

Regulatory Authority

COINFLIP is subject to regulation by two regulatory agencies. The first agency is the Nationwide Multistate Licensing System (NMLS), with a regulation number of 1975146. The exchange is regulated and holds the MTL License under the name GPD Holdings LLC.

regulation

The second regulatory agency is the Financial Crimes Enforcement Network (FinCEN), with a regulation number of 31000172544936. However, it's worth noting that COINFLIP has exceeded the regulation status requirement set by FinCEN. The Financial Crimes Enforcement Network (FinCEN) is a bureau within the United States Department of the Treasury that collects and analyzes information about financial transactions in order to combat domestic and international money laundering, terrorist financing, and other financial crimes.

regulation

Security

Here are some of the security measures applied for CoinFlip:

  • Two-factor authentication (2FA): CoinFlip requires users to enable 2FA for their accounts. This adds an extra layer of security by requiring users to enter a code from their phone in addition to their password when logging in.

  • Cold storage: CoinFlip stores most of its users' funds in cold storage, which means that they are offline and not connected to the internet. This makes them less vulnerable to cyberattacks.

  • SSL encryption: CoinFlip uses SSL encryption to protect all sensitive data transmitted between its servers and users' browsers. This helps to prevent hackers from intercepting and stealing data.

Trading Markets

CoinFlip provides a variety of trading products leveraging blockchain technology for a secure and inclusive financial experience. Through its Olliv digital platform, over-the-counter Order Desk, and network of ATMs, users can easily purchase bitcoin and other cryptocurrencies using cash. This approach ensures accessibility and convenience, particularly for individuals who prefer cash transactions. Overall, CoinFlip's blockchain-based trading products create a user-friendly and supportive environment for those seeking diverse cryptocurrency trading options.

Cryptocurrencies available

CoinFlip currently lists over 40 cryptocurrencies. The exchange has been adding new coins at a relatively slow pace in recent months. In the past 6 months, CoinFlip has added only 5 new coins.

Other Services

CoinFlip provides diverse services to enhance the cryptocurrency experience:

1. Cash Transactions:

Easily buy or sell Bitcoin with cash through CoinFlip's extensive Bitcoin ATM network, offering a convenient option for those preferring cash transactions.

2. Order Desk:

Ensuring security and personalized service, CoinFlip's Order Desk facilitates secure buying and selling of cryptocurrencies, supported by a dedicated team.

3. Debit Card Transactions:

Streamlining the process, CoinFlip allows users to buy Bitcoin swiftly using a debit card, offering a quick and accessible option for expanding cryptocurrency portfolios.

4. Wallet Guidance:

CoinFlip guides users on the importance of self-custodial wallets, providing assistance on downloading and using them at CoinFlip ATMs, empowering users with control over their private keys.

5. Crypto Experience Center:

Offering an in-person connection with Crypto Guides, the Crypto Experience Center serves as a hub for questions, guidance, and even swag, creating a supportive environment for users to explore and engage with digital assets.

How to open an account?

The registration process of COINFLIP can be broken down into the following steps:

1. Visit the COINFLIP website and click on the “Get Started” button. This will redirect you to the registration page.

open-account

2. Fill in the required information, including your email address and password. Make sure to choose a strong password to enhance the security of your account.

3. Agree to the terms and conditions, privacy policy, and any other applicable agreements provided by COINFLIP.

4. Complete the verification process. This may involve providing personal identification documents and proof of address to comply with regulatory requirements.

5. Once your account is verified and approved, you will receive a confirmation email. Click on the link provided in the email to activate your account.

6. Log in to your COINFLIP account using your registered email address and password. You are now ready to start trading virtual currencies on the COINFLIP platform.

How to Buy Cryptos?

Purchasing cryptocurrency through CoinFlip is a user-friendly process:

1. Currency Selection:

Start by choosing the cryptocurrency you wish to buy on the terminal screen. Press the “BUY” button to initiate the purchase process.

2. Quantity Input:

The terminal will prompt you to specify the quantity of crypto you want to purchase in USD. Enter the desired amount to proceed.

3. Wallet QR Code Scan:

Scan your wallet's QR code (public key) using the ATM's scanner. This ensures that the purchased crypto is directed to your intended wallet.

4. Cash Insertion:

Insert bills into the ATM until you've reached the exact amount of crypto you want to purchase.

5. Confirmation and Completion:

Once the required amount is reached, press the “Buy Bitcoin” or “Buy Altcoins” button located at the bottom right of the screen to confirm the transaction. Your purchase will be immediately broadcast to the respective cryptocurrency network.

6. Transaction Confirmation:

You'll receive confirmation that the transaction is underway, and you can monitor the cryptocurrency as it travels to your wallet. The process is efficient, allowing you to securely acquire digital assets through the CoinFlip ATM.

Fees

In a different approach, CoinFlip avoids maker-taker fees and sets specific fee ranges for its services.

ATM Fees

When you buy crypto at CoinFlip Bitcoin ATMs, they add a fee of 15.99% to the regular price of the crypto. This fee goes to CoinFlip and is calculated based on their own price index. If you have a discount code, it takes money off this CoinFlip fee. On top of this, CoinFlip also includes a changing network fee, which covers the cost of using blockchain to process your transaction. Usually, this network fee is $2.49, but it might be higher depending on the type of crypto you're buying and how busy blockchain is.

Cryptocurrencies that can be purchased at a CoinFlip Bitcoin ATM:Bitcoin (BTC)

  • Litecoin (LTC)

  • Ethereum (ETH)

  • Dogecoin (DOGE)

  • Aave (AAVE)

  • Stellar Lumens (XLM)

  • Chainlink (LINK)

  • USD Coin (USDC)

  • PAX Gold (PAXG)

Cryptocurrencies that can be sold at a CoinFlip Bitcoin ATM that facilitates selling:

  • Bitcoin (BTC)

  • Litecoin (LTC)

Online Crypto Purchase with Card Fees

When purchasing online, the total fees sum up to 5.98%. Here's the breakdown: CoinFlip's transaction fee is 2.99%. Likewise, Simplex, the service used, also adds a 2.99% fee, with a minimum of $5. Remember, these extra charges come on top of the displayed rate during checkout.

Trade Desk Fees

For CoinFlip Trade Desk, fees vary from 0.5% to 4% based on the transaction size. Bigger trades and high monthly volume can substantially lower fees.

Deposit & Withdrawal

CoinFlip offers multiple deposit options. You can use credit cards on their website via Simplex. Alternatively, deposit paper cash using their Bitcoin ATMs. Transactions are fast; pressing “Buy Now” at the ATM sends your transaction within 3 minutes.

Here is a video showing how to buy coins through ATMs step by step for your reference:

For withdrawals, CoinFlip charges a fixed mining fee of USD 0.99.

Customer Support

COINFLIP offers round-the-clock customer support. You can contact them via phone at 877-757-2646 or email support@coinflip.tech. They also provide assistance through support tickets. Additionally, you'll find them active on various social media platforms such as Facebook, Instagram, Linkedin, Youtube, TikTok, and more.

customer-support
customer-support

Is COINFLIP a Good Exchange for You?

CoinFlip stands out as the best exchange for traders who love to buy cryptocurrencies through ATMs. With a widespread network of Bitcoin ATMs, CoinFlip provides a convenient and accessible way for users to purchase digital assets using cash. This makes it an ideal platform for individuals who prefer the ease and familiarity of in-person transactions facilitated by ATMs. CoinFlip's focus on this method of cryptocurrency acquisition caters specifically to traders who value the simplicity and immediacy of purchasing digital currencies through physical terminals.

COINFLIP may be a good exchaneg for traders in the following types:

  • Traders who love to buy cryptocurrencies through ATMs.

  • Traders who are reside in the United States and Canada.

  • Traders who pursue a well-regulated trading environment.

Compare with other exchanges

Features
label
label
label
label
Trading Fees Not taker and maker fee model Maker: 0.04%, Taker: 0.075% Maker: 0.05% - 0.1%, Taker: 0.1% - 0.5% Up to 0.40% maker fee and up to 0.60% for taker fee
Cryptocurrencies 40+ 500+ 11 200+
Regulation NMLS, FinCEN ( Exceeded) Regulated by NMLS, MAS/FinCEN (Exceeded) Regulated by FSA ( Japan), NMLS, CSSF, DFI, NYSDFS Regulated by NMLS , FCA, NYSDFS, SEC (Exceeded), FINTRAC (Exceeded)

User Reviews

August 10, 2023

James Thompson

“COINFLIP's crypto exchange is a solid choice. The user-friendly interface makes trading a breeze. They've got a bunch of cryptocurrencies to choose from, which I love. Customer support's been clutch, quick replies whenever I had questions. But, gotta say, the trading fees felt a tad high, could be better. On the flip side, deposit and withdrawal speeds are lightning-fast, major thumbs up. And privacy-wise, I'm content, seems like they take data protection seriously. Overall, a reliable exchange for my crypto adventures.”

July 25, 2023

Mark Walker

“COINFLIP's been my go-to for a while now. Interface-wise, it's smooth sailing. Got a decent range of cryptocurrencies, ticked all the boxes for me. Customer support? Oh yeah, prompt and helpful. But, here's the kicker – their security measures are impressive, top-notch peace of mind. Liquidity-wise, never had issues, trades flow smoothly. I do wish they'd lower the trading fees a smidge though. Deposit and withdrawal speeds are like Formula 1 pit stops, super quick. To sum it up, COINFLIP's my crypto safe haven.”

Conclusion

To sum up, COINFLIP is a regulated exchange primarily focused on the US and Canada. While they offer limited coins, you can buy cryptos via ATMs and various payment methods. They stand out for multiple trading features, though not as famous as some exchanges.

FAQs

Q: What is CoinFlip?

A: CoinFlip is the leading Bitcoin ATM operator in the world with 24/7 customer support and low fees. CoinFlip also supports debit card purchases online through its Olliv digital platform.

Q: What services does CoinFlip offer?

A: CoinFlip currently offer three different services: CoinFlip Bitcoin ATMs for cash transactions, an over-the-counter Order Desk for instant bank transfer, wire or ACH transactions, and an online option for buying cryptocurrency with debit cards.

Q: What is the minimum purchase amount at an ATM?

A: Purchase minimums vary from coin to coin, starting at $5, with the minimum purchase for Ethereum being $20.

Q: Can I use my debit card at a CoinFlip ATM?

A: ATMs currently only accept cash. If you want to buy with a debit card you can do so using Olliv, a CoinFlip platform that allows you to purchase bitcoin and other cryptocurrencies with a debit card.

Q: How long does it take to receive my Bitcoin?

A: After pressing “Buy Now” at the ATM, transactions are sent within 3 minutes.

Risk Warning

Cryotocurrency trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.