CoinFlip meets the rising demand for self-custody with easy app onboarding for new users
CoinFlip, a leading global digital currency platform company, announced the launch of its new Wallet service in Australia and New Zealand to further streamline sending and receiving cryptocurrency, making purchasing digital assets accessible to everyone.
The CoinFlip Wallet offers features designed to enhance user experience by allowing users to easily locate nearby ATMs, pre-register for increased transaction limits, and manage cryptocurrency in one place for ease and convenience. It pairs with CoinFlip’s global ATM network for effortless transactions at its 5,000+ ATM locations, with more than 2,000 investments made on average per month.
CoinFlip is laser-focused on delivering a world-class user experience that prioritises security and reliability for the company’s more than 400,000 customers worldwide who use its ATMs. The business is focused on compliance and consumer protection, and as an AUSTRAC registered Digital Currency Exchange, CoinFlip complies with all applicable Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements to ensure investors are confident to use CoinFlip ATMs from the very first transaction.
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With recent ASX data showing Australians invested a median of $5,100 in crypto in 2023, CoinFlip ATMs offer a straightforward, secure way to buy and sell cryptocurrency using cash, making digital assets more accessible. The CoinFlip Wallet app further simplifies this process, providing a secure platform for users to manage their digital assets seamlessly and confidently.
“The CoinFlip Wallet was launched in the ANZ market in response to a growing demand for secure, flexible, self-custody solutions,” said Ben Brockliss, CoinFlip Vice President for Australia and New Zealand.
“CoinFlip is dedicated to making crypto accessible and secure while focusing on education around adoption. Despite growing interest, barriers like limited understanding and technical knowledge can deter new users. CoinFlip’s extensive ATM network helps break down the barrier, with our wallet making crypto more accessible and approachable across the market.”
The CoinFlip Wallet uses the built-in security features of a user’s phone for quick and secure access. Being self-custodial, the user is firmly in charge of their own digital assets. The setup process is simple: download the Wallet app to a smartphone, verify, and enable access. Users will have the option to backup their Wallet, save down backup codes and they will be required to set up a backup password.
CoinFlip charges 30% less in ATM fees, on average, than its leading competitors and has the largest coverage in Australia with ATMs available in easily accessible places such as shopping centres and petrol stations. Customers can invest in any one of these simply by taking cash out at the checkout and easily using the money to purchase cryptocurrency for near instant settlement.
CoinFlip’s highly trained team of dedicated support agents are available to assist in navigating transactions. The team has specialised training to identify fraud and warn customers. CoinFlip also utilises state-of-the-art blockchain analytics tools to proactively prevent fraud and block transactions to highly suspicious wallet addresses.
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