Bitcoin ATM operator CoinFlip has introduced a new online pre-registration system designed to streamline the use of its Bitcoin ATMs. This innovation allows users to obtain pre-approval before physically accessing the machines, improving both the security and convenience of transactions.
The company’s latest move targets the enhancement of user experience by reducing wait times at ATMs, where customers can now complete pre-registrations in under two minutes using either a mobile device or desktop.
This new process streamlines transactions and allows withdrawals over $960, ensuring regulatory compliance standards and an added layer of security with CoinFlip’s KYC protocols.
This process not only saves time but also elevates the transaction limit for users to $2,995 per day, contingent upon local state regulations.
Ben Weiss, CEO and Co-Founder of CoinFlip, emphasized the dual benefits of the new system, stating, “Our new pre-registration process achieves both convenience and compliance, providing our customers a secure, efficient, and seamless experience at our kiosks.”
He further noted that this initiative aligns with the company’s goal to maintain the highest safety and security standards.
To pre-register, customers need to visit CoinFlip’s Online ATM Registration portal, enter their phone number, and select their preferred currency. Following this, they will receive an authentication code on their phone, and must undergo a verification process for their identification.
This pre-registration mechanism is part of CoinFlip’s broader strategy to ensure compliance and security as it responds to growing concerns around the security of digital currency transactions.
By enabling pre-approval, CoinFlip not only expedites the transaction process but also fortifies its defenses against fraudulent activities.
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