At our Bitcoin ATM in Vancouver 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 - Al-Madina General Store
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 what services does it offer?
Localcoin is Canada's largest cryptocurrency ATM network, allowing customers to buy cryptocurrencies such as Bitcoin with cash at over 950 physical ATM locations primarily in convenience stores and gas stations.
How can I buy Bitcoin using the Localcoin Bitcoin ATM?
You need a Bitcoin wallet app like Trust Wallet or Coinbase Wallet. At the ATM, scan your wallet's QR code, insert Canadian cash, confirm your purchase, and the Bitcoins will be sent to your wallet address usually within 10-30 minutes.
What are the operating hours of the Localcoin Bitcoin ATM at Al-Madina General Store?
The Bitcoin ATM is open 24 hours a day, seven days a week, allowing customers to buy cryptocurrencies at any time.
What cryptocurrencies can I purchase at the Localcoin Bitcoin ATM?
You can buy Bitcoin, Litecoin, Ethereum, Cardano, Dogecoin, Shiba Inu, Ripple, USDC, and Tether at the ATM.
What are the purchase limits when buying Bitcoin at the Localcoin ATM?
The minimum purchase amount is $20 CAD, and the maximum is $995 per transaction, with up to five transactions allowed per day.
What payment methods does the Localcoin Bitcoin ATM accept?
The ATM accepts only Canadian cash bills. Other payment methods like debit or credit cards are available through online purchases via their website.
Is the Localcoin Bitcoin ATM at Al-Madina General Store wheelchair accessible?
Yes, the entrance to the ATM location is wheelchair accessible, ensuring easy access for all customers.
What nearby places can I visit when using the Localcoin Bitcoin ATM at 516 West Pender Street?
How can nearby businesses like Momentus Software and Klean Sneaks be useful while visiting the Localcoin Bitcoin ATM?
If you work or visit Momentus Software, an IT company nearby, you can easily access the Bitcoin ATM during your day. Similarly, Klean Sneaks offers shoe repair services nearby if you need to freshen up your footwear before or after your visit.
Are there dining options near the Localcoin Bitcoin ATM for a quick meal or coffee?
Yes, several nearby eateries include Gelato Express Cafe for coffee and ice cream, ChamMani for Korean and Asian cuisine, and Venom Convenience for groceries and tobacco products.