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At our Bitcoin ATM in Penticton 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 - Hasty 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 Trust Wallet and Blue Wallet.
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 that allows customers to buy cryptocurrency with cash at physical locations, primarily convenience stores and gas stations.
What cryptocurrencies can I buy at the Localcoin Bitcoin ATM?
You can buy Bitcoin, Litecoin, Ethereum, Cardano, Dogecoin, Shiba Inu, Ripple, USDC, and Tether at Localcoin Bitcoin ATMs.
How do I use the Localcoin Bitcoin ATM to purchase cryptocurrency?
First, download a crypto wallet app like Trust Wallet, Exodus, or Coinbase Wallet. Visit the Localcoin ATM with your wallet's address or QR code and cash. Select your cryptocurrency, scan your wallet's QR code at the machine, insert cash, confirm the amount, and your cryptocurrency will be sent to your wallet, usually instantly or within 1–2 hours.
What are the purchase limits for buying Bitcoin at Localcoin ATM?
The minimum purchase amount is $20 CAD and the maximum is $995 per transaction, with up to 5 transactions permitted per day.
What payment methods does the Localcoin Bitcoin ATM accept?
The Localcoin Bitcoin ATM only accepts Canadian cash bills. For debit or credit card payments, purchases can be made online via the Localcoin website.
Where is the Localcoin Bitcoin ATM located in Madoc?
It is located at 66 Saint Lawrence Street West, Madoc, ON, K0K 2K0, Canada.
What are the opening hours of the Localcoin Bitcoin ATM in Madoc?
The ATM is open Monday to Saturday from 5:00 AM to 11:00 PM and on Sunday from 6:00 AM to 11:00 PM.
Can I visit a nearby restaurant or pub before or after using the Localcoin Bitcoin ATM in Madoc?
Yes, Localcoin ATM is near Barley Pub & Eatery and Madoc Firehall Food Fun & Friends, great spots to enjoy food and drinks before or after your visit.
Are there real estate agents near the Localcoin Bitcoin ATM in Madoc for related assistance?
Yes, nearby you will find real estate agents such as Jennifer Reid at Re/Max, Bobbi McCrae at Re/Max Quinte Ltd., and April Gordon at The Wooden Duck Real Estate Brokerage Inc.
What other notable nearby places can I visit near the Localcoin Bitcoin ATM in Madoc?
Nearby, you can visit ServiceOntario government services, TD Canada Trust ATM for banking, Pawfecto Pet Grooming for pet services, and Madoc Playground for leisure.