At our Bitcoin ATM in North York 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 - BGD Food Market Inc.
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?
Localcoin is Canada’s largest cryptocurrency ATM network that allows customers to buy cryptocurrency with cash at over 950 physical ATMs located primarily in convenience stores and gas stations.
What types of cryptocurrencies can I buy at the Localcoin Bitcoin ATM in Scarborough?
You can buy Bitcoin, Litecoin, Ethereum, Cardano, Dogecoin, Shiba Inu, Ripple, USDC, and Tether at our Bitcoin ATM.
How do I use the Localcoin Bitcoin ATM at BGD Food Market Inc.?
To use the Localcoin Bitcoin ATM, download a Bitcoin wallet app like Trust Wallet, Exodus, or Coinbase Wallet and bring your wallet’s address or QR code to the machine. Tap the touchscreen, select your cryptocurrency, scan your wallet’s QR code, insert CAD cash bills, confirm the amount, and your cryptocurrency will be sent to your wallet.
What are the purchasing limits at the Localcoin Bitcoin 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 Bitcoin ATM. For other payment methods like debit or credit cards, customers can purchase online through the Localcoin website.
What are the operating hours of the Localcoin Bitcoin ATM at 1410 Victoria Park Ave?
The ATM is open every day from 9:00 AM to 10:00 PM.
Is the Localcoin Bitcoin ATM at BGD Food Market Inc. wheelchair accessible?
Yes, the location has wheelchair accessible parking available.
What nearby places can I visit when I come to the Localcoin Bitcoin ATM at BGD Food Market Inc.?
Nearby you can find several points of interest such as Jamaican Ital Juice (convenience store and smoothie bar), The Veggie Thali (vegetarian and Indian restaurant), and GC Jerk Xpress (Caribbean restaurant) where you can enjoy meals or refreshments before or after using the ATM.
How can nearby supermarkets and stores like Victoria Supermarket and Bgd Food Market Inc. enhance my visit to the Localcoin Bitcoin ATM?
These nearby supermarkets and stores offer you a chance to complete your grocery shopping conveniently in the same area as the Bitcoin ATM, making it easy to combine errands in one trip.
Are there other financial or service-related places near the Localcoin ATM for additional assistance or needs?
Yes, nearby you will find HODL Bitcoin ATM for alternative cryptocurrency transactions, Basic Sleep Science for medical services, and Main Auto Body Ltd for automotive repairs, providing a variety of options for your service needs.