- CoinPip makes international money transfers cheaper and more efficient by using Bitcoin as the mode of transfer.
- Users will receive the funds in their bank accounts in less than 48 hours, for 1/3 of the typical cost.
- Both senders and receivers do not need to use bitcoin at all.
- Backed by Silicon Valley-based seed fund and accelerator 500 Startups, CoinPip has already acquired 600+users and have made over US $1 million in transactions since its official launch in March 2015.
- CoinPip targets to serve the needs of enterprises delivering payments to vendors, contractors and employees.
- Businesses in developing markets often do not have access to cheap solutions, wire transfers are costly and time-consuming.
- CoinPip offers businesses a cheaper and faster money transfer service to allow them to send money to partners and remote workers that are in Indonesia, China, Taiwan, Hong Kong, Singapore, India and the Philippines with a 2% flat fee.
- Faster transfers: CoinPip can complete inter-bank tranfers within 48 hours, as compared to 7-9 days for traditional wire transfers
- Lower costs: CoinPip charges a flat fee of 2% per transaction with no Forex charges and no minimum transaction amount.
- No Bitcoin knowledge required: Users do not need to touch or even know about Bitcoin, as it is merely CoinPip’s mode of transfer.
How to use it
- Users enter the recipient’s email, currency and transfer amount.
- The user transfers money locally to CoinPip’s bank account.
- Within 48 hours, the recipient receives money in their respective bank account and currency. They do not need to have an account to receive money.