Daniel Polotsky is an individual who might be regarded as action-oriented. It seems as though everything he does is done for a purpose. Understanding this purpose is the key to understanding Polotsky and his company, CoinFlip. CoinFlip is one of the first companies in the country to produce cryptocurrency ATMs, and it is no coincidence that one of the most influential men in business is the one who founded it.
CoinFlip operates under many principles, and they all have deeply-rooted origins. Whenever Daniel Polotsky notices an aspect of corruption in the real world, he tries to counteract it in his business operations. For him, his position of power is not something to be abused, but rather, it is a gift to be given back to the public. After all, Polotsky recognizes, it is the public who has made him successful, not the other way around.
While his humility is admirable, you really have to take a moment to look at the relatively young business-owner and stand in awe; just viewing all that he has accomplished throughout his years inspires many people to start their own businesses, and a fair few of them actually write to Polotsky indicating their gratitude for inspiration. In order to understand why there are so many of these young businesspeople that look for Polotsky for inspiration, one of the best things you can do is to analyze CoinFlip and the conditions under which it is operated.
Daniel Polotsky was inspired to manufacture his revolutionary new wave of bitcoin ATMs not by another company’s success but by another company’s failure. Oftentimes, Daniel Polotsky finds failure to be a great source of inspiration for improvement; after all, many of the greatest businesses in the world were only founded because another business that came directly before them had messed it up. This is one of the key dictating principles in business; in order to improve, you must first fail.
When running CoinFlip, this is Polotsky’s most practiced philosophy, and it is one he totes publicly. He is proud of his ability to fail because it shows that he is still a human being, and no human being is perfect. Not only that but every failure, Polotsky recognizes, is more than just that; it is a window into the future, an opportunity to build up what is to come.
CoinFlip was inspired by the first bitcoin ATM’s failures. They were slow, they had a buggy and confusing user interface, and they were unreliable. CoinFlip’s answer to that was to create a multitude of cryptocurrency ATMs with not only bitcoin but a variety of others to choose from. Additionally, he dotted the country with these ATMs, convinced that the best way to get his word across was by having a consistent and functional line of ATMs that everyone could access.
It had to be designed so that even somebody with little experience in the field could simply walk up to an ATM and understand how to operate it. Many companies talk about how cryptocurrencies are the future for business, but they refuse to bring this future into the mainstream. CoinFlip, luckily, is not one of these businesses, because they understand that, in order to popularize a product, it must be accessible to everyone. This is why he designs his entire company to be customer-friendly.