Here at Coinme, our mission is to help the world gain access to virtual currency. The first step in achieving that mission is to deploy a global network of cryptocurrency ATMs, in addition to other online financial infrastructure, and we are well on our way to that goal with ATMs currently being deployed across the western United States.
In the process of doing so, we were discovered by J.R. Willett, an early cryptocurrency advocate and the inventor of the first token sale, a concept that has since taken the industry by storm. It was upon his suggestion that we launched UpToken to accelerate the deployment of our ATM network, and he has been intimately involved in its design and rollout.
According to Willett, UpToken is “the perfect token sale”. It’s one that will eventually benefit everyone, every cryptocurrency, and has no real limits on the good that can be done through it. It’s simply up to the collective vision of those who choose to participate.
Here’s his case:
- UpToken helps us all. Cryptocurrencies are changing the world, and a lot of people are getting left behind. Crypto ATMs can change that. Developing countries and the non-technical aren’t being reached. As ATM infrastructure improves, everyone can have access to fair money and financial services.
- UpToken doesn’t care who wins. Will Bitcoin win? Ethereum? Litecoin? Something else that hasn’t been invented yet? UpToken doesn’t care. In a gold rush, you’d rather be selling shovels than digging, and I think crypto ATMs represent the ultimate example of picks and shovels for the crypto economy.
- UpToken can help any cryptocurrency to grow. Coinme ATMs currently buy and sell Bitcoin, and Ethereum will be added shortly, but the owners of UpToken get to choose which coins are added to the ATMs after that.
- UpToken already has traction. Most token sales are just an idea. Coinme has existing, operational hardware. Coinme wrote all the software, from the ATM firmware up to the web wallet. UpToken takes an existing functional technology and scales it up!
- Coinme continually buys UpToken. 1% of Coinme ATM fees in perpetuity are devoted to buying UpToken, which will be given to ATM customers as a rewards program. This “cash back” is locked from sale or transfer until the customer has done $10,000 worth of transactions at Coinme ATMs. In the meantime, UpToken can be used to pay Coinme ATM fees at a 30% discount. See the whitepaper for details.
- UpToken is scalable. In the ICO world, an idea that is worth only one million dollars might attract a hundred million dollars, which is grossly inefficient and wasteful. The perfect token sale should scale with the funds raised. If UpToken attracted a billion dollars, we’d use it all to build out our ATM network, each of which would use UpToken. In fact, the more funds UpToken attracts, the better, thanks to economies of scale.
- UpToken has no pre-sale. Most token sales give the best prices on tokens to rich insiders. UpToken gives everyone access to the best prices available. You can see on our signup spreadsheet here — no one is given preferential treatment at UpToken.
Visit www.uptoken.org and join the revolution today!