At our Bitcoin ATM in Richmond Hill 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 - Bibi 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 cryptocurrency with cash at over 950 physical ATMs located primarily in convenience stores and gas stations.
What cryptocurrencies can I buy at the Localcoin Bitcoin ATM in Richmond Hill?
You can buy Bitcoin, Litecoin, Ethereum, Cardano, Dogecoin, Shiba Inu, Ripple, USDC, and Tether at the Localcoin Bitcoin ATM in Richmond Hill.
How do I use the Localcoin Bitcoin ATM at Bibi Convenience?
To use the Bitcoin ATM, download a crypto wallet app like Trust Wallet or Coinbase Wallet, visit the ATM with your wallet's QR code and cash, select your cryptocurrency, scan the QR code at the machine, insert cash, confirm the amount, and your coins will be sent to your wallet usually within 10-30 minutes.
What are the purchase limits for Bitcoin at the Localcoin ATM?
The minimum purchase is $20 CAD and the maximum is $995 per transaction, with up to 5 transactions allowed per day at the Localcoin ATM.
What payment methods are accepted at the Localcoin Bitcoin ATM?
Only Canadian cash bills are accepted at the Localcoin Bitcoin ATM. For other payment methods like debit or credit cards, you can purchase cryptocurrencies online through their website.
What are the operating hours of the Localcoin Bitcoin ATM at 9625 Yonge Street, Richmond Hill?
The ATM is open Monday to Saturday from 8:00 AM to 10:00 PM and Sunday from 9:00 AM to 9:00 PM.
Where is the Localcoin Bitcoin ATM located in Richmond Hill?
It is located at 9625 Yonge Street Unit 1, Richmond Hill, ON, L4C 5T2, Canada, inside Bibi Convenience Store.
Are there any nearby transit or local amenities that can help me locate the Localcoin Bitcoin ATM?
Nearby places include Bibi Convenience Store where the ATM is situated, Rexall pharmacy, and other convenience stores. These landmarks can assist you in locating the ATM at 9625 Yonge Street.
What dining options are near the Localcoin Bitcoin ATM at Bibi Convenience?
Nearby restaurants include Taftan Kebab, Nando's, Midori Ramen, Pho Hung Phat H&P, Table Bbq Korean Restaurant, Tomo Japanese Restaurant, and Hero Certified Burgers, offering various cuisines to enjoy before or after your visit to the ATM.
Are there any health and medical facilities near the Localcoin Bitcoin ATM in Richmond Hill?
Yes, nearby health facilities include Yonge Weldrick Dental Centre, Appletree Medical Centre, Rexall Pharma Plus, Richmond Hill Smiles dental clinic, and TIPS - The Interventional Pain Specialists hospital.