Difference between revisions of "Flexcoin"

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[[File:FlexcoinLogo.jpg]]<br />
 
[[File:FlexcoinLogo.jpg]]<br />
  
Flexcoin bills itself as the first real Bitcoin bank.
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Flexcoin was an [[EWallet]] ran by Flexcoin Inc in Edmonton Alberta Canada.
  
Run by Yooter InterActive Marketing in Pottsville, PA it allows for a central location for all bitcoin only transactions. 
 
  
Flexcoin differentiates itself from [[EWallet]](s) by providing a paid discount to the account holders.  It generates revenue by charging small transaction fees on outgoing bitcoins but no fees are charged from flexcoin to flexcoin accounts.  These fees are for the most part forwarded back to the account holders via a discount payment(currently 70% of all flexcoin collected fees are forwarded back to account holders).
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Flexcoin differentiated itself from [[EWallet]]s by providing a paid "discount" to account holders.  It generated revenue by charging small transaction fees on outgoing bitcoins but no fees were charged from Flexcoin to Flexcoin accounts.  These fees were for the most part forwarded back to the account holders.   
  
The bitcoin bank has been running on an invite only process in June 2011,  invites were filled within minutes of releasing them.
 
Flexcoin went live on August 4th 2011 to the general public.
 
  
Significant attention is focused on "obtaining the best ID possible" similar to a one word domain name as the ID can be used to transfer bitcoins.
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Flexcoin was running on an invite only process in June 2011, but invites were filled within minutes of releasing them.
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Flexcoin went live on August 4th, 2011 to the general public.
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Flexcoin was sold from [http://www.yooter.com Yooter] to a group of Edmonton based investors, headed by James Gray on March 14th 2012.
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On March 3, 2014, Flexcoin announced it was shutting down as a hack amounting 896 BTC had left the wallet penniless. Users with cold storage wallets on Flexcoin were able to keep the funds out of reach of the hacker.
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Flexcoin offers users an alternative to Bitcoin addresses in the form of personalized addresses:
  
 
Example :   
 
Example :   
 
<br>
 
<br>
Before flexcoin: Pay for your coffee at bitcoin address 1555hjPG7pRwTHVMfukPvjXexQMHFE3qu6
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Bitcoin: Pay for your coffee at bitcoin address 1555hjPG7pRwTHVMfukPvjXexQMHFE3qu6
 
<br>
 
<br>
After flexcoin: Pay for your coffee with flexcoin id '''coffeeshop'''
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flexcoin: Pay for your coffee with flexcoin id '''coffeeshop'''
 
<br>
 
<br>
  
Another significant development is that transfers from ID to ID are instant, meaning no next block wait.
 
  
It is one of the first bitcoin eWallets based in the United States and is the first to label itself as a "bank".
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As with most [[EWallet]]s, transfers within flexcoin were instant, meaning no next block wait.
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Flexcoin was one of the first bitcoin eWallets based in the United States and was the first to label itself as a "bank" (though not legally registered as a bank).
  
 
==External links==
 
==External links==
 
* [http://www.flexcoin.com flexcoin] website
 
* [http://www.flexcoin.com flexcoin] website
* [http://www.yooter.com Yooter] (Parent Company)
 
  
 
[[Category:eWallets]]
 
[[Category:eWallets]]
 
[[Category:Financial]]
 
[[Category:Financial]]

Latest revision as of 20:26, 7 April 2014

FlexcoinLogo.jpg

Flexcoin was an EWallet ran by Flexcoin Inc in Edmonton Alberta Canada.


Flexcoin differentiated itself from EWallets by providing a paid "discount" to account holders. It generated revenue by charging small transaction fees on outgoing bitcoins but no fees were charged from Flexcoin to Flexcoin accounts. These fees were for the most part forwarded back to the account holders.


Flexcoin was running on an invite only process in June 2011, but invites were filled within minutes of releasing them. Flexcoin went live on August 4th, 2011 to the general public. Flexcoin was sold from Yooter to a group of Edmonton based investors, headed by James Gray on March 14th 2012. On March 3, 2014, Flexcoin announced it was shutting down as a hack amounting 896 BTC had left the wallet penniless. Users with cold storage wallets on Flexcoin were able to keep the funds out of reach of the hacker.


Flexcoin offers users an alternative to Bitcoin addresses in the form of personalized addresses:

Example :
Bitcoin: Pay for your coffee at bitcoin address 1555hjPG7pRwTHVMfukPvjXexQMHFE3qu6
flexcoin: Pay for your coffee with flexcoin id coffeeshop


As with most EWallets, transfers within flexcoin were instant, meaning no next block wait.

Flexcoin was one of the first bitcoin eWallets based in the United States and was the first to label itself as a "bank" (though not legally registered as a bank).

External links