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 and what services does Localcoin Bitcoin ATM - INS Market offer?
Localcoin is Canada's largest cryptocurrency ATM network allowing customers to buy cryptocurrency with cash at physical locations. The Localcoin Bitcoin ATM at INS Market enables buying Bitcoin and other popular cryptocurrencies using cash.
Where is the Localcoin Bitcoin ATM - INS Market located and what are its operating hours?
The ATM is located at 92 King St E, Toronto, ON, M5C 2V8. It operates Monday to Friday from 7:00 AM to 10:00 PM, and on weekends from 9:00 AM to 10:00 PM.
Which cryptocurrencies can I buy at the Localcoin Bitcoin ATM - INS Market?
You can buy Bitcoin, Litecoin, Ethereum, Cardano, Dogecoin, Shiba Inu, Ripple, USDC, and Tether at this ATM.
What payment methods does the Localcoin Bitcoin ATM accept?
The ATM accepts only Canadian cash bills for transactions. Debit or credit cards are not accepted at the ATM, but can be used for online purchases via the website.
What are the purchase 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.
How do I use the Localcoin Bitcoin ATM to buy cryptocurrency?
First, get a Bitcoin or crypto wallet app such as Trust Wallet or Coinbase Wallet. Visit the ATM with your wallet's QR code and cash. At the machine, scan your wallet QR code, insert cash, confirm the purchase, and your cryptocurrency will be sent to your wallet, usually within minutes.
Does the Localcoin Bitcoin ATM provide wheelchair accessibility?
Yes, the ATM location has a wheelchair accessible entrance and wheelchair accessible parking available for customers.
Are there any dining options near the Localcoin Bitcoin ATM - INS Market?
Yes, nearby dining options include Quesada Burritos & Tacos, Freshii for health-conscious meals, Stori Aperitivo Bar, and St. Louis Bar & Grill, providing various choices for customers before or after using the ATM.
What financial institutions are near the Localcoin Bitcoin ATM - INS Market that might be useful?
The BMO Bank of Montreal and BMO Financial Group are located nearby, offering traditional banking services which might be convenient for customers handling cash before visiting the ATM.
Which nearby landmarks or services could I visit around Localcoin Bitcoin ATM at INS Market?
Nearby landmarks and services include King Plaza, which offers real estate and accommodation options, The UPS Store #336 for printing and shipping services, and the Albany Club for community events, providing convenient visits alongside your ATM trip.