At our Bitcoin ATM in Chatham 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 - Richmond Convenience
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 like Bitcoin with cash at physical locations, mostly convenience stores and gas stations.
How can I buy Bitcoin using a Localcoin Bitcoin ATM?
Visit a Localcoin Bitcoin ATM with your Bitcoin wallet's QR code and cash. Select your cryptocurrency on the machine, scan your wallet's QR code, insert cash, confirm the amount, and receive Bitcoin in your wallet. Transactions typically complete within 10-30 minutes.
What cryptocurrencies can I purchase at the Localcoin Bitcoin ATM - Richmond Convenience?
You can buy Bitcoin, Litecoin, Ethereum, Cardano, Dogecoin, Shiba Inu, Ripple, USDC, and Tether at this location.
What are the transaction limits for buying Bitcoin at this ATM?
The minimum purchase amount is $20 CAD, and the maximum is $995 per transaction, with up to 5 transactions allowed per day.
What payment methods are accepted at the Localcoin Bitcoin ATM?
Only Canadian cash bills are accepted at the ATM. For debit or credit card purchases, customers can buy cryptocurrency online via the Localcoin website.
What are the operating hours for the Localcoin Bitcoin ATM - Richmond Convenience?
The ATM is open Monday through Saturday from 7:00 AM to 11:00 PM, and on Sundays from 8:00 AM to 11:00 PM (local time, America/Toronto).
Is the Localcoin Bitcoin ATM - Richmond Convenience wheelchair accessible?
Yes, the location offers wheelchair accessible parking for customers.
What nearby convenience stores can I visit before or after using the Bitcoin ATM?
You can visit Richmond Convenience Store, 7-Eleven, and Richmond Pharmacy, all located close to the ATM, for snacks, essentials, or additional services.
Which nearby restaurants are available around the Localcoin Bitcoin ATM for a meal or snack?
Nearby dining options include Tokyo Sushi, Red Swan Pizza, Domino's, Feta Pita, Koka's Pizza, and Tim Hortons, offering various cuisines such as sushi, pizza, Greek food, and coffee.
What other useful nearby services can I access around the Localcoin Bitcoin ATM at 161 Richmond St?
Close to the ATM are services including Chatham-Kent Community Health Centres, Garcia Dental Care, Scott Stanley Desjardins Insurance Agent, Instant Print & Promo, and Access Storage, providing medical, insurance, printing, and storage solutions.