Netcoins allows customers to buy Bitcoin in under 15 seconds. Our software, Netcoins’ “Virtual” Bitcoin ATM, turns any device into a Bitcoin ATM (tablet, computer, mobile). We sell Bitcoin at over 7,000 stores & mobile agents.
Who started the company? Do you / team members have tech background?
Netcoins is co-founded by myself, Michael Vogel, and my brother Dominic Vogel (aka the Bitcoin Brothers!). My background is in engineering, and Dominic’s is in cyber security, specializing in banking.
How are you being financed?
Netcoins has bootstrapped itself from a startup into a profitable and rapidly scaling company
What do you think will be / is a big obstacle to overcome?
Managing time is always a challenge with any company, there are a million different things to do and it can be a challenge to prioritize when everything seems equally important!
How do you go about finding good developers / IT guys for your company?
Given our tech backgrounds, we’ve fortunately been able to develop our core product ourselves. Speaking from past experiences as an engineering manager, recruiters are often a tremendous resource for finding talent. LinkedIn is also a good starting point – you’d be surprised how many potential candidates you can find.
Who is your biggest competition?
Bitcoin can also be purchased online through an exchange, however exchanges have long verification and payment times, often taking weeks, whereas Netcoins purchases are instant.
How are you intending on taking your company to million dollars in revenues? In what markets?
Along with the Bitcoin market, Netcoins’ growth has exploded in 2017. We’re very happy to have launched on multiple continents, including recent partnerships in Africa and South America, in addition to Canada & Australia.
What is the big lesson you’ve learned (success or failure) with this project.
We originally created Netcoins because it was difficult to buy Bitcoin for ourselves. Developing a product with ourselves in mind as the first customers has made it possible to have a clear direction on how we’d like the product to function and how best to serve our customers.