At our Bitcoin ATM in Burnaby you can buy Bitcoin and other popular cryptocurrency, such as Ethereum and Litecoin, with cash. With Canada's largest network of Bitcoin ATMs, Localcoin is a Toronto-based company whose mission is to provide a simple buying & selling experience of digital currency for customers while upholding privacy standards across North America.
Frequently Asked Questions About Localcoin Bitcoin ATM - Deer Lake Market
What is Localcoin?
Localcoin is Canada’s largest cryptocurrency ATM network that enables customers to buy cryptocurrency with cash at a physical location. Customers can visit one of our 950+ physical ATMs at our retail locations, composed primarily of convenience stores and gas stations.
What is Bitcoin?
Bitcoin is a decentralized digital currency, meaning it is not controlled by any government or central bank. Bitcoin can be used to buy goods and services online, and can also be held as an investment. Each Bitcoin is like a computer file that is stored in a 'digital wallet' app on a smartphone or computer. People can send Bitcoins to your digital wallet, and you can send Bitcoins to other people. Every single transaction is recorded in a public list called the blockchain.
What is a Bitcoin ATM?
A Bitcoin ATM is a machine that enables users to buy Bitcoin and other cryptocurrencies using cash. It functions similarly to a traditional ATM, enabling users to deposit cash and receive Bitcoin in their wallet, or sell bitcoin and receive cash.
How do I use a Bitcoin ATM?
Step 1: Get a Bitcoin Wallet:
We recommend the following easy-to-use Bitcoin wallets downloadable from your app store: Trust Wallet, Exodus or Coinbase Wallet
You'll need to take this wallet (or a printed QR code) with you, to the machine.
Step 2: Visit a Localcoin Bitcoin ATM
All you need is your wallet’s address, QR code and cash!
Step 3: At the Machine
a. Tap the machine's touchscreen, then read the on-screen prompt.
b. Select your desired cryptocurrency. (Bitcoin, Ethereum, LTC, etc.)
c. In your wallet, find the QR code. This tells the machine where to send your Bitcoin once you've confirmed your purchase.
d. Hold it up to the machine's camera and wait for it to be scanned.
Step 4: Purchasing Your Bitcoins
a. After scanning the QR code, insert your CAD bills.
b. Confirm the amount on the screen to complete your purchase.
c. Please note that there will be a service fee, which varies based on the Bitcoin market.
Step 5: Receiving Your Bitcoins
Once you've confirmed your purchase, your Bitcoins will be sent to the address you provided.
Transactions are usually instantaneous but may take anywhere between 10–30 minutes, or even 1–2 hours in rare cases.
What is a Bitcoin/Crypto Wallet and how do I get one?
A crypto wallet is a necessary part of holding and transacting crypto coins. To send or receive any kind of coin, you’ll need a secure wallet that’s just for cryptocurrency. These specialized wallets:
1. Exist to keep track of coin ownership
2. Help generate the public addresses you’ll need to make transactions.
3. Don’t hold your coins like a traditional wallet does; instead, your Bitcoin, Ether, Litecoin, etc. all exist on the blockchain — your crypto wallet simply gives you access to them.
You can download a crypto wallet from your app store, some easy-to-use mobile wallets include BRD Wallet, Bitpay, and Blockchain.
What are the limits for purchasing Bitcoin?
The minimum amount of Bitcoins (and other coins) you can buy from a Localcoin ATM is $20 CAD. The maximum is $995 per transaction, with at most 5 transactions per day.
What payment methods are accepted?
We only accept Canadian cash bills. For other payment methods such as debit/credit cards, you can purchase online by visiting our website at localcoinatm.com
What other cryptocurrency coins do you sell at your Bitcoin ATMs?
We sell Bitcoin, Litecoin, Ethereum, Cardano, Dogecoin, Shiba Inu, Ripple, USDC, and Tether at our ATMs.
What is Localcoin and how does it work?
Localcoin is Canada's largest cryptocurrency ATM network that allows customers to buy cryptocurrency with cash at physical locations like convenience stores and gas stations through over 950 ATMs.
What types of cryptocurrencies can I buy at the Localcoin Bitcoin ATM in Burnaby?
You can buy Bitcoin, Litecoin, Ethereum, Cardano, Dogecoin, Shiba Inu, Ripple, USDC, and Tether at our ATMs.
How do I use a Bitcoin ATM at Localcoin?
First, download a Bitcoin wallet app like Trust Wallet, Exodus, or Coinbase Wallet. Bring your wallet's QR code and cash to the ATM. Scan the QR code, insert cash, confirm your purchase on the screen, and your cryptocurrency will be sent to your wallet address, normally within minutes.
What are the hours of operation for the Localcoin Bitcoin ATM at 5962 Sperling Ave, Burnaby?
The ATM is open Monday to Friday from 9:00 AM to 9:00 PM, Saturdays from 10:00 AM to 6:00 PM, and Sundays from 11:00 AM to 6:00 PM.
What payment methods are accepted at the Localcoin Bitcoin ATM in Deer Lake Market?
Only Canadian cash bills are accepted at the ATM. For debit or credit card payments, customers can purchase cryptocurrency online through the Localcoin website.
Are there any accessibility features at the Localcoin Bitcoin ATM location?
Yes, the location has wheelchair accessible entrances and parking to provide ease of access for all customers.
What nearby locations can help me find the Localcoin Bitcoin ATM at Deer Lake Market?
Nearby places include Deer Lake Market convenience store and Canada Post. These landmarks can help you easily locate the Localcoin Bitcoin ATM at 5962 Sperling Ave in Burnaby.
Can I combine a visit to the Localcoin Bitcoin ATM with nearby attractions?
Yes, after using the ATM, you can enjoy nearby spots like Deer Lake Park for outdoor activities or visit Deer Creek Gallery Library for cultural events, making your visit more enjoyable.
How can nearby transportation options assist me in getting to the Localcoin Bitcoin ATM?
Bus Stop 53090 (144) is close to the ATM, allowing convenient public transit access to the Deer Lake Market area where the Localcoin Bitcoin ATM is located.
What should I know about transaction limits at Localcoin Bitcoin ATM?
The minimum purchase amount is $20 CAD, and the maximum is $995 per transaction, with up to 5 transactions allowed per day.