Company Information

Get to know Robocoin

Founded in 2012 in Las Vegas, Nevada, Robocoin was one of the world's first companies to manufacture and operate Bitcoin automated teller machines (ATMs). The company's mission was to make buying and selling Bitcoin accessible to the general public. Initially, Robocoin sold its machines to independent operators, but later pivoted its business model to operate its own network of kiosks under the "Robocoin Wallet" brand. This 2.0 software update in 2014 was controversial as it mandated strict new KYC (Know Your Customer) procedures, including palm vein scanning and government ID verification, and forced all operators and users onto its centralized wallet service. This led to significant backlash from the community and its operator network. The company ceased Robocoin operations and attempted to rebrand as a remittance service called "Romit" in 2015, but it ultimately failed to gain traction and shut down.

Industry

Crypto BrokerPRIMARY
Crypto Cryptocurrency
Financial Banking

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Robocoin

United States

Founded in

2013 (13 Years)

Founded

Last online: No recent activity

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OVERALL SCORE

Licenses

--/40

Reviews

--/60

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FTD LIMITED

(505 reviews)

British Virgin Islands

2017

(9 years)

Security Information :

BVI FSC

Security Information

Warning

This company is currently Unproved.

Please be cautious of the potential risks!

License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.