UpToken FAQs - UpToken

Questions about UpToken

What can I use UpToken for?

UpToken is a reward for our ATM customers. Coinme uses 1% of every ATM transaction to purchase UpToken, which is given to customers as a 1% “cash back” reward. The customer can use their UpToken to receive a 30% discount on ATM fees by paying with UpToken. However, the UpToken that is rewarded to ATM users through using the ATM is not available for withdrawal until that user has reached $10,000 in ATM volume.

Additionally, Coinme will periodically hold auctions to determine which cryptocurrencies should be added to Coinme ATMs (currently Coinme only supports bitcoin, and ethereum is going to be added soon). These auctions will require UpToken to participate. We do not discriminate against which protocol ultimately wins – we want to have a huge network of ATMs ready to support the big coin of the future, and the boosters of that coin will need UpToken to secure their spot on our network. These auctions will be held as often as will provide maximum benefit to the UpToken community and ATM customers. We plan to hold the first auction immediately after the token sale (once we have sent the UpTokens).

How many UpTokens are there?

We are creating 10 billion UpTokens, up to 8 billion of which will be available for sale during the crowd sale. Coinme will hold additional UpTokens, equal to 25% of what was sold during the crowdsale. Any remaining UpTokens not sold during the crowd sale will be destroyed. Please see the terms of sale for details.

Questions about Coinme

How long has Coinme been in business?

The first Coinme crypto ATM was installed in 2014, and it was the first licensed bitcoin ATM in the United States.

What makes Coinme different from other crypto ATM operators?

Unlike other crypto ATM companies, Coinme is both a producer (a company that makes crypto ATMs) and an operator (a company that runs crypto ATMs). Coinme develops and manages the full stack of technology from the hardware design to the software. This gives Coinme a unique insight and approach to respond to changing demands. We are completely vertically integrated, and handle all aspects of the customer experience, from cash logistics to customer support and engineering.