At our Bitcoin ATM in Markham 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.
Location
Localcoin Bitcoin ATM - Newly Elson's Variety & Gift
Frequently Asked Questions About Localcoin Bitcoin ATM - Newly Elson's Variety & Gift
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 provide at the Markham location?
Localcoin is Canada's largest cryptocurrency ATM network, allowing customers to buy cryptocurrency with cash at physical ATMs. At the Markham location, you can buy Bitcoin and other popular cryptocurrencies using cash.
What cryptocurrencies can I buy at the Localcoin Bitcoin ATM in Markham?
You can buy Bitcoin, Litecoin, Ethereum, Cardano, Dogecoin, Shiba Inu, Ripple, USDC, and Tether at the Localcoin Bitcoin ATM in Markham.
How do I use the Bitcoin ATM at Newly Elson's Variety & Gift?
To use the Bitcoin ATM, first get a crypto wallet (such as Trust Wallet, Exodus, or Coinbase Wallet). Visit the ATM with your wallet's QR code and cash. Follow the on-screen prompts to scan your QR code, insert CAD bills, and confirm the purchase. Bitcoins are sent to your wallet shortly after.
What are the transaction limits at the Localcoin Bitcoin ATM in Markham?
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 other payment methods like debit or credit cards, purchases can be made online via the Localcoin website.
What are the operating hours of the Localcoin Bitcoin ATM located at 280 Elson St, Markham?
The ATM is open daily from 9:00 AM to 11:00 PM.
Is there wheelchair accessible parking available at the Localcoin Bitcoin ATM in Markham?
Yes, there is wheelchair accessible parking available at this location.
What nearby places can I visit around the Localcoin Bitcoin ATM at Newly Elson's Variety & Gift?
Nearby places include India Sweets and Restaurant for dining, Markham Video Centre for entertainment, and John Daniels Park for outdoor activities. These spots can complement your visit to the Bitcoin ATM.
How can nearby supermarkets like No Frills and Spicetown Halal Meat enhance my visit to the Localcoin Bitcoin ATM?
You can conveniently complete your cryptocurrency transactions at the ATM while shopping for groceries at nearby supermarkets such as No Frills and Spicetown Halal Meat, making it easy to manage errands in one trip.
Are there any nearby financial services near the Localcoin Bitcoin ATM to assist with related needs?
Yes, nearby financial services include CIBC, Mortgage Architects Inc., and President's Choice Financial, which might help with banking, mortgage, or financial advice before or after using the Bitcoin ATM.