of Bitcoin leaves extensive public records. It is open-source; its design is public, meaning nobody owns or controls bitcoin, and everyone can take part. In our continued effort to ensure the safety and security of our customers, Coinme is excited to announce a security update of our customers wallets. However, Bitcoin is not totally anonymous and does not offer the same level of privacy as cash. This week we have an announcement from our engineering team about our Coinme Wallet: uptoken coinme wallet functionality, our team has been working around the clock to improve the features of the wallet, and we are excited to announce the UpToken Coinme Wallet is live! From the day we placed our first machine in Seattle in 2014, we understood how much our customers trusted us with their finances, and that is not something that we take lightly.
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For this reason, it can also be thought of in terms of a bank account. The ramifications of bitcoins social and economic benefits are vast, including global financial inclusion, competition in a gridlocked lifeline remittance industry, innovation in e-commerce, savings on transaction costs for businesses, and improved consumer protection and privacy. In this increasingly borderless and digital era, bitcoin is the way businesses, consumers, and the worlds unbanked can transact securely, swiftly, and affordably. In our update last week, we spoke about the next wave of Coinme ATMs and the growth of our team. With buy and sell functionality right in your Coinme Wallet, you can purchase and keep track of your crypto on your laptop or smartphone. Coinme's digital currency wallet is just another way to make purchasing and selling bitcoin convenient for you. At a Coinme ATM, with only a state-issued ID and four taps on the screen, you can buy and sell Bitcoin at any of our 50 ATMs across the country, all in less than 60 seconds. Simply enter your primary email, and follow the prompts to enter your US drivers license number and password!
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