Bitcoin ATM located in INS Market. You can buy Bitcoin and other popular cryptocurrency at our ATM with cash. 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 - INS 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 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?
Localcoin is Canada's largest cryptocurrency ATM network with over 950 ATMs, mainly in convenience stores and gas stations, allowing you to buy cryptocurrency with cash.
What cryptocurrencies can I buy at the Localcoin Bitcoin ATM located at 55 York St?
You can buy Bitcoin, Litecoin, Ethereum, Cardano, Dogecoin, Shiba Inu, Ripple, USDC, and Tether at this ATM.
How do I use the Localcoin Bitcoin ATM at INS Market?
Download a crypto wallet app like Trust Wallet or Coinbase Wallet, bring your wallet's QR code and cash, select your cryptocurrency on the ATM, scan your QR code, insert cash, and confirm your purchase. Bitcoins are sent to your wallet within minutes to a few hours.
What are the purchase limits for the Localcoin Bitcoin ATM at INS Market?
You can buy a minimum of $20 CAD and a maximum of $995 per transaction, with up to 5 transactions allowed per day.
What payment methods does the Localcoin Bitcoin ATM accept?
The ATM accepts only Canadian cash bills. For other payment methods like debit or credit cards, purchases can be made through their website.
What are the opening hours of the Localcoin Bitcoin ATM at INS Market?
The ATM is open Monday to Friday from 7:00 AM to 11:00 PM, and Saturday to Sunday from 9:00 AM to 10:00 PM.
Is the Localcoin Bitcoin ATM at INS Market wheelchair accessible?
Yes, this location has wheelchair accessible parking.
What are some nearby places to the Localcoin Bitcoin ATM at 55 York St that customers might visit?
Nearby places include Destination Bride for wedding planning, EatWell Health Centre for mental health services, and Devyn Perry Travel for travel services, which customers may find useful before or after using the ATM.
How can nearby travel agencies help customers visiting Localcoin Bitcoin ATM at INS Market?
Agencies like Carrie Me Away Vacations, Exclusive Travel, and Road Trip Escapes offer travel planning services, making it convenient for customers to organize trips after purchasing cryptocurrency at the ATM.
Are there any nearby services related to event planning near the Localcoin Bitcoin ATM at INS Market?
Yes, nearby services include KNAV Canada for event planning and accounting and Destination Bride for wedding and event planning, useful for customers planning special events.