At our Bitcoin ATM in 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 - Machado 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?
Localcoin is Canada’s largest cryptocurrency ATM network that allows customers to buy cryptocurrency with cash at over 950 physical ATMs located mainly in convenience stores and gas stations.
How do I use the Localcoin Bitcoin ATM at Machado Convenience?
To use the Localcoin Bitcoin ATM, first get a Bitcoin wallet app like Trust Wallet or Coinbase Wallet. At the ATM, select your cryptocurrency, scan your wallet's QR code, insert Canadian cash bills, confirm your purchase and the coins will be sent to your wallet address.
What cryptocurrencies can I buy at the Localcoin ATM?
You can buy Bitcoin, Litecoin, Ethereum, Cardano, Dogecoin, Shiba Inu, Ripple, USDC, and Tether at the Localcoin ATMs.
What are the operating hours of the Localcoin Bitcoin ATM at 1990 Eglinton Ave W?
The ATM is open daily from 8:00 AM to 10:00 PM.
What payment methods are accepted at the Localcoin Bitcoin ATM?
The ATM accepts only Canadian cash bills. For debit or credit card payments, purchases can be made online at localcoinatm.com.
What are the purchase limits for using the Localcoin Bitcoin ATM?
The minimum purchase amount is $20 CAD, and the maximum is $995 per transaction with a limit of 5 transactions per day.
Is the Localcoin ATM at Machado Convenience accessible for wheelchair users?
Yes, the ATM location has a wheelchair accessible entrance.
What nearby places can I visit near the Localcoin Bitcoin ATM at Machado Convenience?
Nearby, you can visit Fairbank Village BIA, a community and entertainment hub, and various local restaurants like George’s Eatery + Bar and Yummy Tummy Restaurant, great for dining before or after your visit to the ATM.
How can nearby businesses like Fairbank Village BIA help customers visiting the Localcoin ATM?
Fairbank Village BIA offers community services and entertainment that can enhance your visit. It’s also a great landmark to find the ATM location and explore local services and events in York afterwards.
Are there other amenities near the Localcoin Bitcoin ATM at Machado Convenience?
Yes, nearby amenities include grocery stores like Loconte Ambrogio Super Market, barber shops such as The President's Barbers, and health services like Fairbank Dental and Guardian - Eglinton Medical Pharmacy for a convenient visit.