Cointed is a rather young, but fast-growing Bitcoin exchange located in Kufstein, Austria. The company was founded in November 2015 by Christopher Rieder and Wolfgang Thaler and during the first year attracted more than 4,000 permanent customers.
Cointed currently makes it possible to buy and sell a number of cryptocurrencies, including Bitcoin, Ether, Monero, and Zcash and convert them to USD, EUR, and GBP.
Expanding to Turkey
Cointed is operating more than 17 Bitcoin ATM’s around Austria, France and Italy. BATMTwo and BATMThree machines are supplied by General Bytes, one of the leading Bitcoin and Blockchain technology providers.
This year Cointed is planning to expand to Turkey. With the suspension of business operations in the country by PayPal due to the introduction of a new set of regulations. Bitcoin is now becoming one of the most effective ways to pay online.
Having evaluated the existing demand, Cointed is aiming to make operations with Bitcoin easier for a growing amount of users in the country.
Wolfgang Thaler, CEO and Co-founder at Cointed told Cointelegraph:
“There is a great demand for cryptocurrencies like Bitcoins since Turkey has forbidden PayPal last year and it is a very interesting and important market in our point of view. But this are dreams of the future.”
Cointed is striving to become the biggest online exchange in Europe, therefore the company is constantly revising and improving their services. In the following month, the Cointed website will go through significant upgrades.
Wishing to open their services for global customers, Cointed will, first of all, make the webpage available in multiple languages. The interface has been redesigned and simplified to make the registration process smoother.
Thus, it will offer a step by step guidance through a simple menu. The Cointed team managed to build a platform offering a variety of different functions and services available in one place.
Besides that, the company is extending their services launching Buy Gold with Bitcoin service, smart payment solutions for companies PayCo and Bitcoin Debit Card.
Christopher Rieder, CEO at Cointed, explains:
“With PayCo customers will be able to pay with Bitcoins at the shop or online and the entrepreneur will get money on his bank account if he wants it. It is cheaper and safer than the common credit card payments.”
Bridging traditional finance and cryptocurrency world
The Bitcoin Debit Card is one of the ways to bridge cryptocurrency world with that of traditional finance. The Bitcoin Debit cards basically function as prepaid cards denominated in a particular currency opening up Bitcoin or any other cryptocurrency to a world of buying options even when traditional payment options are actually used.
Different exchange services are introducing this kind of cards to their customers nowadays to make it easier to spend Bitcoins on real world goods. Cointed sets out to make it more convenient for their customers to convert digital currencies to traditional money and vice versa introducing a Crypto Debit Card.
Soon Cointed customers will be able to load the equivalent of their crypto fortune in EUR, USD or GBP and many more currencies to the card through Cointed online exchange.
Making Bitcoin green
Cointed puts its few coins into keeping Bitcoin from becoming an environmental disaster. See, most of us might assume that since it exists online, it is environmentally friendly. Is that really so? Bitcoins are generated through a fun process of solving complex mathematical problems by computers, which need energy to operate.
As the number of Bitcoins is growing, these processor-intensive equations are getting harder, meaning the increase in the amount of electricity required.
Charli Aho, CTO at Cointed, says:
“We operate our mining farms only in hydroelectric power plants in Austria. As a result, we not only keep the environment clean, we keep also the production costs low and pass this savings onto our customers.”