What Went Down for CoinOutlet in 2014?

2014 ended a few days ago. The Bitcoin community can only look back with pride at what was achieved within the year. It goes without mentioning that the adoption of bitcoin and other crypto coins grew significantly.

This was also the year when the highest number so far of major brands embraced the crypto currency. The best examples in this regard include Microsoft, Overstock, Dell, and Time Inc.

Last, but not least, 2014 is the year when CoinOutlet burst onto the Bitcoin ATM scene. The company introduced to the market a machine that is designed with the man and woman on the street in mind.

CoinOutlet made 2014 special in the Bitcoin ATM industry

The simplicity of this ATM makes it ideal for bringing crypto currency to the mainstream. In fact, those who have used it can attest to the fact that it is the most convenient way of buying and selling bitcoin.

In addition, the CoinOutlet ATM is the first to incorporate the Know Your Customer (KYC), and Anti-Money Laundering (AML) features as per the regulatory requirements.

All these were achieved because though the company was new, the men behind it were not. Eric Grill and Richard Haber already had over ten years of experience in IT infrastructure development, and in particular software development for financial services.

They also had a history with Bitcoin, with Eric having been a miner and active member of Bitcoin advocacy groups.

Things started moving fast for the company in the month of August. This is the time when it was formally launched with a working prototype presented in Baltimore.

The company created the most valuable partnerships

A few weeks later, on September 29, 2014, with the assistance of Bitcoin Shop, CoinOutlet was able to secure a partnership with Locant. This is a company with exclusive rights to close to 100,000 prime spots across the US, which gave CoinOutlet the potential for setting up the largest Bitcoin ATM network ever.

The company also had a rare opportunity of being part of an incredible history in the making. In early October, it provided a machine through which the first marriage, between David Mondrus of Redboxjewels.com and Joyce Bayo, was registered on the blockchain.

This happened during the Bitcoin Conference at the Disney world Resort on 4th and 5th October.

Other proud moments include when Four54 Grill, a sandwich shop in the city of Lancaster, opened the first ATM in the state of Pennsylvania on 14th November 2014.

With so many achievements and proud moments in 2014, we can only look forward to an even more successful CoinOutlet in 2015.


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