Chicago-based Bitcoin ATM provider CoinFlip have announced the launch of an over-the-counter (OTC) trading desk for US residents called CoinFlip Preferred, which will feature a relatively low minimum transaction requirement compared to competitors.
CoinFlip is excited to announce our OTC desk, CoinFlip Preferred!
BUY & SELL crypto by wire transfer through your personal cryptocurrency concierge.
— CoinFlip Preferred (OTC) (@coinflipotc) May 13, 2020
With a low threshold set at $5,000 – which is multiple times lower than most competitors – the company believe the service forms a new stage on their “…journey towards making cryptocurrency investments mainstream.”
Access to Crypto
CoinFlip currently operate over 600 cryptocurrency ATMs across 34 states in America where users can buy and sell different cryptocurrencies including Bitcoin (BTC).
ATMs have long been thought of as a way of enabling access to cryptocurrency for the casual or beginner user while OTCs – which operate through a broker rather than a centralised exchange – have traditionally been geared towards the more serious investor or trader.
According to CoinFlip’s CEO and Co-Founder, Daniel Polotsky, an OTC facility expands upon their current business model to “…provide more Americans with the kind of high-touch investment service many companies reserve for their wealthiest clients.”
By assigning a personal concierge to each client who signs up on the CoinFlip Preferred website, customers are guided through the process from initial consultation to final trade.
Although currently only available in the USA, it is expected the service will be expanded in time to accommodate international customers.