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Coinme Turns Seven, Help Us Celebrate!

Coinme is turning seven in May. Looking back over those seven years, we wanted to reminisce some of our key milestones. To make the occasion even more festive, we’re launching a sweepstakes as a way to say “thank you” to all of our users and supporters. 

2014 The first Coinme Bitcoin ATMs hit the streets

Coinme was founded with a simple vision to make buying bitcoin easy. The idea was to help people buy bitcoin with cash via bitcoin ATMs. Headquartered in Seattle, we started with a string of 14 ATMs, a small team, and a license from the state of Washington to launch. 

During May 2014, when Coinme officially launched its first ATM service, bitcoin was trading between $440-$630!

2017 When bitcoin went mainstream

The interesting thing about the bull run of 2017 is that it was largely led by retail investors. In other words, the price run was driven by people buying relatively small amounts of bitcoin at a time through services like Coinme. Coinme grew exponentially and saw the same demand that industry saw at large, setting the stage for bigger things to come.

2019 Bread, milk, and bitcoin

Bitcoin’s breathtaking market run in 2017 put bitcoin on the map. As mainstream media started covering bitcoin, drawing more attention to the digital asset, the team at Coinme was looking for ways to scale and grow.

We wanted to enable existing financial networks to add Coinme’s bitcoin functionality as a service. 

The result of these efforts came in 2019, Coinme announced a massive partnership with Coinstar. Coinstar already had thousands of kiosks located at the front of grocery stores, retail outlets, and pharmacies nationwide. Coinstar’s primary service allows people to convert spare change into dollars. With the addition of Coinme’s services, now people could also use the kiosk to easily convert traditional fiat cash into bitcoin. 

The partnership is continuously expanding across the nation. Today, already over 6,000 Coinme-powered Coinstar locations exist, and with more on the way.

2021 The need for a store of value

As the world comes out of a global pandemic and a year of money printing, the need for a trusted and reliable store of value is more important than ever. Coinme is excited to continue being a trusted gateway to digital currencies and a better financial future. 

Coinme Blog.

Understanding Bitcoin Network Fees

Bitcoin network fees, or bitcoin mining fees, refer to a sum that is charged to complete a bitcoin transaction. These bitcoin fees are tacked onto the amount that the sender inputs and added to the total transaction amount. Like the bitcoin network itself, bitcoin fees are dynamic. When the bitcoin network gets busy, or when there are more transactions happening, the bitcoin network fees increase.

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